CSN Files 2023 Year-End Financials on Form 6-K

TL;DR

CSN dropped its 2023 financials, check the balance sheet and income statement for the steel giant.

AI Summary

Companhia Siderúrgica Nacional (CSN), also known as National Steel Company, filed a Form 6-K on April 30, 2024, reporting its financial statements for the period ending December 31, 2023. The filing includes balance sheets, income statements, statements of comprehensive income, cash flows, and changes in shareholders' equity. CSN is a foreign private issuer based in Brazil and files under the 1934 Act.

Why It Matters

This filing provides investors with the audited financial performance of National Steel Company for the fiscal year 2023, crucial for assessing the company's financial health and investment potential.

Risk Assessment

Risk Level: low — This is a routine financial filing (6-K) providing year-end results, not indicating new or unusual risks.

Key Players & Entities

• Companhia Siderúrgica Nacional (company) — Registrant
• National Steel Company (company) — Registrant's English name
• 20240430 (date) — Filing date
• 20231231 (date) — Reporting period end date

FAQ

Key Financial Figures

• $ — Report 106 (In thousands of reais - R$, unless otherwise stated) Company Inf
• $2,383,276 — n CSN Cimentos Brasil in the amount of R$2,383,276. Logistics: Railroads: CSN has int
• $1 — sheet date. As of December 31, 2023, US$1 was equivalent to R$4,8413 (R$5.2177 as
• $4,8413 — ember 31, 2023, US$1 was equivalent to R$4,8413 (R$5.2177 as of December 31, 2022) and
• $5.2177 — 2023, US$1 was equivalent to R$4,8413 (R$5.2177 as of December 31, 2022) and €1 wa
• $5,3516 — 1, 2022) and €1 was equivalent to R$5,3516 (R$5.5694 as of December 31, 2022), acc
• $5.5694 — nd €1 was equivalent to R$5,3516 (R$5.5694 as of December 31, 2022), according to
• $4.8413 — e exchange rate used to conversion was R$4.8413 for dollar amounts and R$5.3516 for eur
• $5.3516 — on was R$4.8413 for dollar amounts and R$5.3516 for euro amounts, as of December 31, 20
• $122,687 — lusive funds. As of December 31, 2023, R$122,687 has restricted availability as a guaran
• $345,215 — calculation base, being approximately R$345,215, increases of R$37,153 in PIS and R$143
• $37,153 — approximately R$345,215, increases of R$37,153 in PIS and R$143,575 in COFINS and reco
• $143,575 — ,215, increases of R$37,153 in PIS and R$143,575 in COFINS and recovery. Increases in IR
• $179,122 — s in IRRF recoverable in the amount of R$179,122 were also recorded, the main factor bei

Filing Documents

• siditr4q23_6k.htm (6-K) — 2036KB
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• image_062.jpg (GRAPHIC) — 132KB
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• 0001292814-24-001732.txt ( ) — 4581KB

financial statements are identified as “Parent Company”

financial statements are identified as “Parent Company”. 2.b) Basis of presentation The financial statements were prepared based on the historical cost and were adjusted to reflect: (i) the fair value measurement of certain financial assets and liabilities (including derivative instruments), as well as pension plan assets; and (ii) losses due to the reduction in the recoverable value of assets (“impairment”). When IFRS and CPCs allow the option between acquisition cost or another measurement criterion, the acquisition cost criterion was used. The preparation of these financial statements requires Management to use certain accounting estimates, judgments and assumptions that affect the application of accounting policies and the reported amounts at the balance sheet date of assets, liabilities, income, and expenses may differ from actual future results. The assumptions used are based on history and other factors considered relevant and are reviewed by the Company’s management. The accounting policies and critical estimates, when applicable and relevant, are included in the respective explanatory notes and are consistent with the previous year presented, as shown below: Note 5 - Allowance for expected losses (impairment) of trade receivables; Note 9 - Recoverability test of investment in Transnordestina Logística S.A. (“TLSA”); Note 11 - Goodwill impairment test; Note 13 - Derivative financial instruments and hedge accounting; Note 17 - Recoverability test of deferred income tax and social contribution; Note 19 - Tax, social security, labor, civil, environmental provisions and judicial deposits; Note 20 - Provisions for environmental liabilities and asset retirement obligations; Note 29 - Employee benefits. Note 30 - Compromisses The parent company and consolidated financial statements were approved by Management on March 6, 2024. 2.c) Functional currency and presentation currency The accounti

financial statements: the amendment aims to improve the information disclosed by

financial statements: the amendment aims to improve the information disclosed by companies on long-term debt with covenants. • Amendment IAS 21 – The effects of changes in exchange rates: the amendment aims to improve the quality of information presented in the financial statements when there is a situation in which a currency cannot be easily exchanged on the other, establishing a requirement that companies adopt a uniform approach when evaluating the possibility conversion. • Amendment IAS 12 – Income tax: Clarifies aspects related to the recognition and disclosure of taxes deferred assets and liabilities related to Pillar Two rules published by the Organization for Cooperation and Economic Development (OECD). • IAS 10 and IAS 28 - Investments in associates and enterprises in set: Alignment of the wording of the aforementioned standards. . • IFRS S1 – General requirements for disclosing financial information related to sustainability: proposes that companies disclose financial information, risks and opportunities in the short and long term regarding sustainability, that are useful to the general purpose user in making decisions about providing resources to the entity. • IFRS S2 – Climate-related disclosure requirements: establishes the requirements for the disclosure of information related to climate, and applies to aspects to which the entity is exposed, which may be physical risks, transition and opportunities available to the organization. The Company has not early adopted any of these standards and does not expect that they will have a material impact on the financial statements of subsequent fiscal years. 23 (In thousands of reais - R$, unless otherwise stated) 3. CASH AND CASH EQUIVALENTS Consolidated Parent Company 12/31/2023 12/31/2022 12/31/2023 12/31/2022 Cash and banks In Brazil 103,383 85,120 73,819 49,794 Abroad 10,797,192 6,310,338 140,400 136,756

View Full Filing

View this 6-K filing on SEC EDGAR