CSN: Production & Capex Outlook 2013 - Analyst Blog
2013年4月2日 - 10:20PM
Zacks
Days after reporting its fourth
quarter and year 2012 financial results on Mar 28,
Companhia Siderurgica Nacional (SID), or CSN came
out with its outlook for year 2013.
The Brazilian steel maker anticipates iron ore production to be
roughly 29 million tons, very similar to the 2011 production
figure. Its results are likely to get affected by lower shipments
experienced in the first quarter 2013 due to a machine break down
at Casa de Pedra mine.
Talking of steel, CSN anticipates sales in 2013 to be roughly 6.2
million tons, a rise of 7% over 5.8 million tons in 2012. Of the
total, roughly 4.9 million tons or 79% sales are expected in the
domestic market. Capital spending for steel would amount to R$400
million in 2013.
On a consolidated basis, capital spending in year 2013 is expected
to be R$3.1 billion. CSN targets to spend roughly R$2.2 billion on
expansion plans, including R$1 billion on Transnordestina Logística
and R$660 million on cement. The rest R$900 million will be used as
maintenance capex, including steel and mining.
In year 2012, CSN utilized roughly R$3,144.2 million including
among others, R$984 million spent on Transnordestina Logística,
R$381 million on expansion of Casa de Pedra mine and Itaguai Port,
R$454 million on construction of the long steel plant.
CSN is a $6.8 billion steelmaker and is considered to be one of the
best in Brazil. The stock currently holds a Zacks Rank #2 (Buy).
Other stocks to watch out for in the industry are Gibraltar
Industries, Inc. (ROCK) and Shiloh Industries
Inc. (SHLO), each with a Zacks Rank #1 (Strong Buy) and
Nippon Steel & Sumitomo Metal Corporation
(NSSMY), with a Zacks Rank #2 (Buy).
NIPPON STEEL CP (NSSMY): Get Free Report
GIBRALTAR INDUS (ROCK): Free Stock Analysis Report
SHILOH INDS INC (SHLO): Get Free Report
CIA SIDERUR-ADR (SID): Free Stock Analysis Report
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