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CSN Posts Record Net Income of R$5.8 Billion and EBITDA of R$6.6 Billion in 2008

Posted on: Monday, 30 March 2009, 07:41 CDT

SAO PAULO, March 30 /PRNewswire-FirstCall/ -- Companhia Siderurgica Nacional CSN (NYSE: SID) (BOVESPA: CSNA3) announces today its results for the 4Q08 and fiscal year 2008:

-- Net revenue reached R$14.0 billion in 2008, 22% up on the previous year, a Company record. Net revenue in the 4Q08 was at R$3.4 billion, 12% more than in the 4Q07.

-- Gross profit totaled R$7 billion in 2008, 47% up on 2007 and yet another record, accompanied by a gross margin of 50%, 8 p.p. higher than the previous year.

-- EBITDA amounted to R$6.6 billion in 2008, 35% higher than in 2007 and yet another record, and the 4Q08 EBITDA achieved R$1.5 billion, a 20% year-on-year improvement.

-- The 2008 EBITDA margin reached a substantial 47%, 5 p.p. more than the year before, while the 4Q08 margin reached 45%, 3 p.p. up on the 4Q07. CSN has consistently recorded EBITDA margins of above 40% for almost 8 years.

-- Annual net income totaled R$5.8 billion, a new Company record and virtually double the 2007 figure. Fourth quarter net income stood at R$3.9 billion, also a historical record and more than seven times the amount reported in the 4Q07.

-- CSN's annual market share of the domestic flat steel (hot-rolled, cold-rolled, galvanized and tin plate) increased to 39%, 5 p.p. up on 2007. The Company's market share of the galvanized steel market for the construction, home appliances/OEM and distribution sectors stood at more than 80%.

The full 4Q08 and 2008 Earnings Release is available on CSN's IR website at www.csn.com.br/ir

CSN will be hosting conference calls about its 4Q08 and 2008 Results on Monday, March 30, 2009, at 4:00 p.m. US EDT in English and 1:00 p.m. US EDT in Portuguese. Connection details may be accessed on the Company's IR website: www.csn.com.br/ir.

SOURCE Companhia Siderurgica Nacional

Source: PR Newswire

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