Companhia Siderúrgica Nacional (NYSE:SID) Q4 2023 Earnings Conference Call March 7, 2024 9:30 AM ET

Company Participants

Marcelo Ribeiro - Executive Director of Finance and Investor Relations & Member of Executive Board

Benjamin Steinbruch - President of Executive Board, Chairman and Chief Executive Officer

Helena Guerra - ESG and Sustainability Director

Luis Martinez - Executive Director of Commercial and Logistics Area & Member of Executive Board

Divaldo Oliveira - Production Supervisor, Process Engineer

Conference Call Participants

Daniel Sasson - Itau BBA

Leonardo Correa - BTG Pactual

Operator

Good morning, ladies and gentlemen, and thank you for holding. At this time, we would like to welcome everyone to CSN Conference Call to present results for the Fourth Quarter 2023. Today with us, the Company’s executive officers. We would like to inform you that this event is being recorded, and all participants will be in listen-only mode during the Company presentation. Ensuing this, we will go on to the Q&A section when further instructions will be provided. This event is being webcast through internet and can be accessed at ri.csn.com.br, where the presentation is also available. The replay of this event will be available for a period of seven days.

Before proceeding, please be advised that some of the statements herein are mere expectations or trends and are based on the current assumptions and opinions of the Company management and the performance and events may differ materially from those expressed herein, which do not constitute projection. In fact, actual results, performances, or events may differ materially from those expressed or implied by forward-looking statements as a result of several factors such as overall and economic conditions in Brazil and other countries, interest rates and exchange rate levels, future rescheduling or prepayment of debt nominated in foreign currencies, protectionist measurements in the U.S., Brazil, and other countries, changes in law and regulations and general competitive factors at a global, regional, or national basis.

I’d now like to turn the floor over to Mr. Marcelo Cunha Ribeiro, CFO and Investor Relations Executive Officer, he will present the operational and financial highlights for the period. Mr. Ribeiro. You may proceed.

Marcelo Ribeiro

Good morning, everybody, and thank you for attending CSN's conference call. As usual, I will go on to the presentation. And before going on to the question and answer session, I will give the floor to Mr. Benjamin Steinbruch. Now we had a strong EBITDA of R$ 3.6 billion in the fourth quarter, confirming the robustness of the CN model of diversification, integration, and verticalization, reaching an EBITDA margin of 29%, even in difficult moments for the production of steel, and because of the prices that are dropping. Despite this, we achieved the best results in the year through this diversification.