National Steel Co. Files 6-K for Q3 2025

TL;DR

CSN (National Steel Co.) filed its 6-K for Q3 2025, confirming its foreign private issuer status and 20-F annual report filing.

AI Summary

Companhia Siderúrgica Nacional (CSN), also known as National Steel Company, filed a Form 6-K on November 10, 2025, for the period ending September 30, 2025. The filing is a report of a foreign private issuer and indicates that CSN will file annual reports under Form 20-F. The company's principal executive office is located in Sao Paulo, Brazil.

Why It Matters

This filing provides an update on National Steel Company's reporting status as a foreign private issuer, which is relevant for investors tracking its compliance and financial reporting schedule.

Risk Assessment

Risk Level: low — This is a routine filing for a foreign private issuer and does not contain specific financial performance data or significant corporate events.

Key Players & Entities

• Companhia Siderúrgica Nacional (company) — Registrant
• National Steel Company (company) — Translation of Registrant's name
• 0001292814-25-003879 (filing_id) — Accession Number
• 20251110 (date) — Filing Date
• 20250930 (date) — Reporting Period End Date

FAQ

Key Financial Figures

• $4.3 — ery in iron ore prices, which rose by US$4.3/dmt compared to the previous quarter, d

Filing Documents

• sidpr3q25_6k.htm (6-K) — 120KB
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From the Filing

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 For the month of November, 2025 Commission File Number 1-14732 COMPANHIA SIDERRGICA NACIONAL (Exact name of registrant as specified in its charter) National Steel Company (Translation of Registrant's name into English) Av. Brigadeiro Faria Lima 3400, 20 andar So Paulo, SP, Brazil 04538-132 (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F ___X___ Form 40-F _______ Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes _______ No ___X____ 3Q25 RESULTS São Paulo, November 4, 2025 - Companhia Siderúrgica Nacional ("CSN") (B3: CSNA3) (NYSE: SID) announces its results for the third quarter of 2025 (3Q25) in Brazilian Reais, with its financial statements being consolidated in accordance with the accounting practices adopted in Brazil issued by the Brazilian Accounting Pronouncements Committee ("CPC"), approved by the Brazilian Securities and Exchange Commission ("CVM") and the Federal Accounting Council ("CFC") and in accordance with the International Financial Reporting Standards ("IFRS"), issued by the International Accounting Standards Board ("IASB"). The comments address the consolidated results of the Company in the third quarter of 2025 (3Q25) and the comparisons are relative to the second quarter of 2025 (2Q25) and the third quarter of 2024 (3Q24). The dollar exchange rate was R$ 5.44 on 09/30/2024; R$ 5.46 on 06/30/2025 and R$ 5.32 on 09/30/2025. 3Q25 Operational and Financial Highlights For more information, visit our website: https://ri.csn.com.br/ 2 3Q25 RESULTS Consolidated Table - Highlights ¹ Adjusted EBITDA is calculated from net income (loss) plus depreciation and amortization, income taxes, net financial income, income from investments, income from other operating income/expenses and includes the proportional 37.49% share of EBITDA of the jointly owned subsidiary MRS Logística. ² The Adjusted EBITDA Margin is calculated as Adjusted EBITDA divided by Management Net Revenue. ³ Adjusted Net Debt and Adjusted Cash/Availabilities consider 37.49% of MRS, in addition to not considering Forfaiting and Drawn Risk operations . 4 Leverage calculation considers Tora's UDM EBITDA Consolidated Results · Net revenue totaled R$ 11,794 million in 3Q25, representing a significant growth of 10.3% when compared to the previous quarter and 6.6% compared to the same period in 2024. This was primarily driven by the mining segment, which benefited from increased iron ore prices and ongoing operational improvements. Other factors contributing to this performance were the favorable dynamics of the cement segment, which recorded its best quarter of the year through higher volumes and price adjustments, and the increased cargo movement in the logistics segment, which was also impacted by the positive seasonality of the period. · Cost of Goods Sold (COGS) totaled R$ 8,327 million in 3Q25, an increase of 4.5% compared to the previous quarter, reflecting higher sales volumes across all operational segments. Compared to 3Q24, there was stability, with higher iron ore shipments being offset by lower steel product sales. · In turn, Gross Profit reached R$ 3,467 million in 3Q25, representing an increase of 27.2% and 26.8% compared to the previous quarter and the same period in 2024, respectively. The excellent performance of the mining, cement, and logistics segments was key to the profitability gain observed in the period, resulting in a Gross Margin of 29.4%, which represents an expansion of 3.9 percentage points compared to the previous quarter and 4.7 percentage points in the annual comparison. · In 3Q25, Selling General and Administrative Expenses totaled R$ 1,560 million, which was 4.2% higher than the previous quarter and in line with seasonal trends. Compared to 3Q24, there was an 8.7% decrease due to a lower commercial activity in the steel segment and greater expense control. For more information, visit our website: https://ri.csn.com.br/ 3 3Q25 RESULTS · The Other Operating Income and Expenses group recorded a negative balance of R$ 341 million in 3Q25, representing a significant decrease from the positive result of R$ 246 million in previous quarter, primarily due to the reversal of contingencies verified in 2Q25. Compared to the same period in 2024, there was a 7.0% improvement, mainly reflecting the reduction in costs related to idle capacity expenses in the steelma

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View this 6-K filing on SEC EDGAR