CSN Records Net Income of R$1.15 Billion, Sales Volume Moves up by 39% and the EBITDA Margin Widens to 33% in the 3Q09

Wed. November 04, 2009; Posted: 05:46 AM

    --  Net income totaled R$1.15 billion in the 3Q09, 243% up on the R$335
        million recorded in the previous quarter. In the first nine months, net
        income stood at R$1.85 billion, also an improvement over the same period
        last year;

    --  Steel product sales volume amounted to 1.32 million tonnes, 39% more
        than the 2Q09;

    --  Crude steel production in the 3Q09 came to 1.18 million tonnes, with
        rolled output of 1.32 million tonnes, 35% and 37% up, respectively, on
        the 2Q09;

    --  The average rolled steel unit production cost fell from R$964/t in the
        2Q09 to R$784/t in the 3Q09, a hefty 19% reduction;

    --  3Q09 net revenue totaled R$3.0 billion, 20% more than the R$2.5 billion
        reported in the 2Q09;

    --  3Q09 EBITDA stood at close to R$1.0 billion, a 36% improvement over the
        2Q09, with an EBITDA margin of 33%, up by 4 p.p. on the 2Q09, further
        underlining the Company's margin recovery process;

    --  In 2009 through September 30, CSN's shares appreciated by 100% on the
        Bovespa (Brazil), the 10th largest upturn among those firms listed on
        the Ibovespa index, while its ADRs climbed by 155% on the NYSE, the 8th
        highest increase among all the Latin American ADRs listed on the New
        York Stock Exchange;

    --  CSN closed the 3Q09 with a market cap of US$22.3 billion, the highest
        figure of any steel manufacturer in the Americas;

    --  Also at the end of the 3Q09, ROE stood at 91%, considering net income in
        the last 12 months, growth of 23 p.p. over the previous quarter;

    --  In September 2009, through its wholly-owned subsidiary CSN Islands XI
        Corporation, CSN effected a US$750 million bond issue at 6.875% p.a.,
        maturing in 10 years.

The full 3Q09 Earnings Release is available on CSN's IR website at www.csn.com.br/ir

CSN will be hosting conference calls about its 3Q09 Results TODAY, November 4, 2009, at 9:00 a.m. US EST in English and 7:00 a.m. US EST in Portuguese. Connection details may be accessed on the Company's IR website.

SOURCE Companhia Siderurgica Nacional

http://www.csn.com.br/ir/

For full details on Companhia Siderurgica Nacional S.A. (SID) click here. Companhia Siderurgica Nacional S.A. (SID) has Short Term PowerRatings of 4. Details on Companhia Siderurgica Nacional S.A. (SID) Short Term PowerRatings is available at This Link.

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