Quarterly ResultMay 14, 2026, 06:12 AM
National Steel 1Q26 Net Loss R$555M; Revenue R$10.6B
AI Summary
Companhia Siderúrgica Nacional (National Steel) reported a net loss of R$ 555.0 million in 1Q26, an improvement compared to the previous quarter and 1Q25. Net Revenue decreased 7.0% quarter-over-quarter and 2.8% year-over-year to R$ 10,603.8 million, reflecting seasonal weakness and exchange-rate impacts. Adjusted EBITDA reached R$ 2,646.0 million with a 23.9% margin, showing annual growth driven by strong performance in the cement and logistics segments. The company also secured a US$ 1.2 billion bridge loan and is progressing with its asset sale plan to reduce its R$ 40,505.0 million net debt.
Key Highlights
- Net Revenue totaled R$ 10,603.8 million, down 7.0% QoQ and 2.8% YoY.
- Reported a Net Loss of R$ 555.0 million, an improvement from 4Q25 and 1Q25.
- Adjusted EBITDA reached R$ 2,646.0 million, with a 23.9% margin (up 1.8 p.p. YoY).
- Free Cash Flow was negative R$ 1,597.7 million due to seasonality and working capital.
- Consolidated Net Debt stood at R$ 40,505.0 million, with leverage at 3.36x.
- Secured a US$ 1.2 billion bridge loan to reduce short-and-medium-term debt.
- Investments (CAPEX) totaled R$ 1,125.6 million, a 44.9% decrease QoQ.
- Cement segment delivered its highest quarterly result in company history.