National Steel Co 6-K, filed Nov 27, 2024

National Steel Co (SID)

6-K 2024-11-27 For: 2024-09-30

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Added on April 11, 2026

About this 6-K

National Steel Co filed this 6-K on November 27, 2024.

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Company Information
Capital Structure	1
Parent Company Financial Interim Accounting Information
Statement of Financial Position - Assets	2
Statement of Financial Position - Liabilities	3
Interim Income Statement	4
Interim Statement of Comprehensive Income	5
Interim Statement of Cash Flows	6
Interim Statement of Changes in Shareholders’ Equity	7
Interim Statement of Added Value	9
Consolidated Interim Financial Statements
Statement of Financial Position - Assets	10
Statement of Financial Position - Liabilities	11
Interim Income Statement	12
Interim Statement of Comprehensive Income	13
Interim Statement of Cash Flows	14
Interim Statement of Changes in Shareholders’ Equity	15
Interim Statement of Added Value	17
Notes to the Financial Statements	18
Reports and Statements
Independent Auditors’ Report	65
Statement of Directors on Interim Accounting Information	67
Statement of Directors on Auditor's Report	68

Number of Shares (Units)	Current Period 9/30/2024
Paid-in Capital
Common	1,326,093,947
Preferred	0
Total	1,326,093,947
Treasury Shares Acquired
Common	0
Preferred	0
Total	0

Account Code	Description	09/30/2024	12/31/2023
1	Total Assets	63,228,878	60,462,818
1.01	Current Assets	15,077,359	13,769,870
1.01.01	Cash and Cash Equivalents	1,472,672	2,270,070
1.01.02	Financial Investments	1,012,994	1,524,709
1.01.02.01	Financial Investments Measured a Fair Value Through Profit or Loss	984,893	1,493,204
1.01.02.01.03	Financial Investments Measured a Fair Value Through Profit or Loss – Usiminas’ Shares	984,893	1,493,204
1.01.02.03	Financial Investments at Amortized Cost	28,101	31,505
1.01.03	Trade Receivables	1,641,020	1,870,367
1.01.04	Inventory	7,017,344	6,168,584
1.01.06	Recoverable Taxes	847,842	855,663
1.01.08	Other Current Assets	3,085,487	1,080,477
1.01.08.03	Others	3,085,487	1,080,477
1.01.08.03.03	Derivative Financial Instruments	-	12,122
1.01.08.03.04	Prepaid Expenses	182,494	248,688
1.01.08.03.06	Dividends Receivable	2,625,583	562,938
1.01.08.03.07	Others	277,410	256,729
1.02	Non-Current Assets	48,151,519	46,692,948
1.02.01	Long-Term Assets	12,077,503	10,545,374
1.02.01.03	Financial Investments at Amortized Cost	125,306	111,350
1.02.01.07	Deferred Taxes	4,846,366	3,213,410
1.02.01.10	Other Non-Current Assets	7,105,831	7,220,614
1.02.01.10.03	Recoverable Taxes	1,845,270	1,820,866
1.02.01.10.04	Judicial Deposits	202,967	210,833
1.02.01.10.05	Prepaid Expenses	43,000	64,659
1.02.01.10.06	Receivable from Related Parties	4,188,576	3,889,117
1.02.01.10.07	Others	826,018	1,235,139
1.02.02	Investments	26,992,722	27,800,877
1.02.02.01	Equity Interest	26,856,617	27,663,116
1.02.02.02	Investment Property	136,105	137,761
1.02.03	Property, Plant and Equipment	9,022,257	8,288,815
1.02.03.01	Property, Plant and Equipment in Operation	7,567,724	7,468,574
1.02.03.02	Right of Use in Leases	40,113	6,067
1.02.03.03	Property, Plant and Equipment in Progress	1,414,420	814,174
1.02.04	Intangible Assets	59,037	57,882

Account Code	Description	09/30/2024	12/31/2023
2	Total Liabilities	63,228,878	60,462,818
2.01	Current Liabilities	14,888,262	15,031,033
2.01.01	Payroll and Related Taxes	241,012	172,098
2.01.02	Trade Payables	3,822,473	3,976,931
2.01.03	Taxes Obligations	199,907	175,576
2.01.04	Current Debt	6,416,850	5,588,464
2.01.05	Other Payables	4,188,249	5,102,736
2.01.05.02	Others	4,188,249	5,102,736
2.01.05.02.01	Dividends and Interest on Capital Payable	5,740	5,230
2.01.05.02.04	Advances from Customers	324,853	277,764
2.01.05.02.09	Trade Payables – Forfaiting	2,957,294	3,980,003
2.01.05.02.10	Lease Liabilities	10,796	6,523
2.01.05.02.11	Other Payables	889,566	833,216
2.01.06	Provisions	19,771	15,228
2.01.06.01	Provision for Tax, Social Security, Labor and Civil Risks	19,771	15,228
2.02	Non-Current Liabilities	34,922,276	27,931,110
2.02.01	Current Debt	22,641,102	18,102,841
2.02.02	Other Payables	1,472,232	848,817
2.02.02.02	Others	1,472,232	848,817
2.02.02.02.03	Advances from Customers	551,497	709,495
2.02.02.02.06	Derivative Financial Instruments	68,176	-
2.02.02.02.07	Lease Liabilities	29,881	476
2.02.02.02.08	Trade Payables	94,916	11,184
2.02.02.02.09	Other Payables	727,762	127,662
2.02.04	Provisions	10,808,942	8,979,452
2.02.04.01	Provision for Tax, Social Security, Labor and Civil Risks	350,996	312,180
2.02.04.02	Other Provisions	10,457,946	8,667,272
2.02.04.02.03	Provision for Environmental Liabilities and Decommissioning of Assets	150,587	160,968
2.02.04.02.04	Pension and Healthcare Plan	513,180	481,118
2.02.04.02.05	Provision for Losses on Investments	9,794,179	8,025,186
2.03	Shareholders’ Equity	13,418,340	17,500,675
2.03.01	Paid-up Capital	10,240,000	10,240,000
2.03.02	Capital Reserves	32,720	32,720
2.03.04	Earnings Reserves	5,121,236	6,071,236
2.03.04.01	Legal Reserve	1,158,925	1,158,925
2.03.04.02	Statutory Reserve	3,962,311	4,912,311
2.03.05	Accumulated Earnings (Losses)	(1,958,817)	-
2.03.08	Other Comprehensive Income	(16,799)	1,156,719

Account Code	Description	Accumulated of the Current Period 07/01/2024 to 09/30/2024	Accumulated of the Current Period 01/01/2024 to 09/30/2024	Accumulated of the Previous Period 07/01/2023 to 09/30/2023	Accumulated of the Previous Period 01/01/2023 to 09/30/2023
3.01	Net Operating Revenue	5,073,830	13,945,349	4,613,663	13,961,806
3.02	Cost of Goods Sold and Services Rendered	(4,758,178)	(13,313,207)	(4,516,482)	(13,218,969)
3.03	Gross Profit	315,652	632,142	97,181	742,837
3.04	Operating (Expenses)/Income	(310,106)	(1,333,437)	32,747	(611,167)
3.04.01	Selling Expenses	(210,872)	(624,542)	(197,941)	(593,908)
3.04.02	General and Administrative Expenses	(91,003)	(282,179)	(80,533)	(217,154)
3.04.04	Other Operating Income	32,646	135,453	(20,288)	(7,748)
3.04.05	Other Operating Expenses	(223,849)	(668,327)	(96,672)	(1,198,684)
3.04.06	Equity Results in Associate Companies	182,972	106,158	428,181	1,406,327
3.05	Income Before Financial Results and Income Taxes	5,546	(701,295)	129,928	131,670
3.06	Financial Results	(1,167,198)	(2,126,000)	(549,814)	(1,883,384)
3.06.01	Financial Income	96,378	431,365	67,137	331,013
3.06.02	Financial Expenses	(1,263,576)	(2,557,365)	(616,951)	(2,214,397)
3.06.02.01	Foreign Exchange, net	(310,529)	(40,902)	104,325	(132,145)
3.06.02.02	Financial Expenses	(953,047)	(2,516,463)	(721,276)	(2,082,252)
3.07	Income Before Income Taxes	(1,161,652)	(2,827,295)	(419,886)	(1,751,714)
3.08	Income Tax and Social Contribution	321,315	868,478	265,406	854,441
3.08.01	Current	-	-	(2,346)	179,100
3.08.02	Deferred	321,315	868,478	267,752	675,341
3.09	Net Income from Continuing Operations	(840,337)	(1,958,817)	(154,480)	(897,273)
3.11	Net Income/(Loss) for the Period	(840,337)	(1,958,817)	(154,480)	(897,273)
3.99	Income per Share
3.99.01	Basic Income per Share
3.99.01.01	Ordinary Shares	(0.63369)	(1.47713)	(0.11649)	(0.67663)
3.99.02	Diluted Income per Share
3.99.02.01	Ordinary Shares	(0.63369)	(1.47713)	(0.11649)	(0.67663)

Parent Company Interim Income Statement
(R$ thousand)

Parent Company Interim Statement of Changes in Shareholders’ Equity - 01/01/2024 to 09/30/2024
(R$ thousand)

Consolidated Statement of Financial Position - Assets
(R$ thousand)

Consolidated Interim Statement of Changes in Shareholders’ Equity - 01/01/2024 to 09/30/2024
(R$ thousand)

		Consolidated		Parent company
	09/30/2024	12/31/2023	09/30/2024	12/31/2023
Cash in banking institutions and in hand
In Brazil	987,638	103,383	62,299	73,819
Abroad	11,950,945	10,797,192	179,088	140,400
	12,938,583	10,900,575	241,387	214,219

Financial investments
In Brazil	4,339,452	4,227,916	1,229,758	2,052,232
Abroad	1,174,373	917,727	1,527	3,619
	5,513,825	5,145,643	1,231,285	2,055,851
	18,452,408	16,046,218	1,472,672	2,270,070

			Consolidated		Parent company
	Ref.	09/30/2024	12/31/2023	09/30/2024	12/31/2023
Trade receivables
Third parties
In Brazil		1,547,742	1,525,773	886,531	872,666
Abroad		906,649	1,801,677	49,991	31,176
		2,454,391	3,327,450	936,522	903,842
Allowance for doubtful debts		(254,810)	(226,053)	(139,600)	(119,558)
		2,199,581	3,101,397	796,922	784,284
Related parties	20.a	118,701	168,367	844,098	1,086,083
		2,318,282	3,269,764	1,641,020	1,870,367

	Equity interests (%)
Companies	09/30/2024	12/31/2023	Core business
Direct ownership interest in subsidiaries: full consolidation
CSN Islands VII Corp.	100.00	100.00	Financial transactions
CSN Inova Ventures	100.00	100.00	Equity interests and financial transactions
CSN Islands XII Corp.	100.00	100.00	Financial transactions
CSN Steel S.L.U.	100.00	100.00	Equity interests and financial transactions
TdBB S.A (*)	100.00	100.00	Equity interests
Sepetiba Tecon S.A.	99.99	99.99	Port services
Minérios Nacional S.A.	99.99	99.99	Mining and Equity interests
Companhia Florestal do Brasil	99.99	99.99	Reforestation
Estanho de Rondônia S.A.	99.99	99.99	Tin Mining
Companhia Metalúrgica Prada	99.89	99.89	Manufacture of containers and distribution of steel products
CSN Mineração S.A.	79.75	79.75	Mining
CSN Energia S.A.	99.99	99.99	Sale of electric power
FTL - Ferrovia Transnordestina Logística S.A.	92.71	92.71	Railroad logistics
Nordeste Logística S.A.	99.99	99.99	Port services
CSN Inova Ltd.	100.00	100.00	Advisory and implementation of new development project
CBSI - Companhia Brasileira de Serviços de Infraestrutura	99.99	99.99	Equity interests and product sales and iron ore
CSN Cimentos Brasil S.A.	99.99	99.99	Manufacturing and sale of cement
Berkeley Participações e Empreendimentos S.A.	100.00	100.00	Electric power generation and equity interests
CSN Inova Soluções S.A.	99.99	99.90	Equity interests
CSN Participações I	99.90	99.90	Equity interests
Circula Mais Serviços de Intermediação Comercial S.A.	0.10	0.10	Commercial intermediation for the purchase and sale of assets and materials in general
CSN Participações III	99.90	99.90	Equity interests
CSN Participações IV	99.90	99.90	Equity interests
CSN Participações V	99.90	99.90	Equity interests

Indirect ownership interest in subsidiaries: full consolidation
Lusosider Projectos Siderúrgicos S.A.	100.00	100.00	Equity interests and product sales
Lusosider Aços Planos, S. A.	100.00	99.99	Steel and Equity interests
CSN Resources S.A.	100.00	100.00	Financial transactions and Equity interests
Companhia Brasileira de Latas	99.89	99.88	Sale of cans and containers in general and Equity interests
Companhia de Embalagens Metálicas MMSA	99.88	99.87	Production and sale of cans and related activities
Companhia de Embalagens Metálicas - MTM	99.88	99.87	Production and sale of cans and related activities
CSN Productos Siderúrgicos S.L.	100.00	100.00	Financial transactions, product sales and Equity interests
Stalhwerk Thüringen GmbH	100.00	100.00	Production and sale of long steel and related activities
CSN Steel Sections Polska Sp.Z.o.o	100.00	100.00	Financial transactions, product sales and Equity interests
CSN Mining Holding, S.L.U.	79.75	79.75	Financial transactions, product sales and Equity interests
CSN Mining GmbH	79.75	79.75	Financial transactions, product sales and Equity interests
CSN Mining Asia Limited	79.75	79.75	Commercial representation
Lusosider Ibérica S.A.	100.00	100.00	Steel, commercial and industrial activities and equity interests
CSN Mining Portugal, Unipessoal Lda. ⁽⁴⁾		79.75	Commercial and representation of products
Companhia Siderúrgica Nacional, LLC	100.00	100.00	Import and distribution/resale of products
Elizabeth Cimentos S.A.	99.98	99.98	Manufacturing and sale of cement
Santa Ana Energética S.A.	99.98	99.98	Electric power generation
Topázio Energética S.A.	99.98	99.98	Electric power generation
Brasil Central Energia Ltda.	99.98	99.98	Electric power generation
Circula Mais Serviços de Intermediação Comercial S.A.	99.99	99.90	Commercial intermediation for the purchase and sale of assets and materials in general
Metalgráfica Iguaçu S.A	99.89	99.89	Metal packaging manufacturing
Companhia Energética Chapecó	79.75	79.75	Electric power generation
Companhia Estadual de Geração de Energia Elétrica - CEEE-G ⁽²⁾	100.00	98.98	Electric power generation
Ventos de Vera Cruz S.A.	99.99	98.97	Electric power generation
Ventos de Curupira S.A	99.99	98.97	Electric power generation
Ventos de Povo Novo S.A.	99.99	98.97	Electric power generation
MAZET Maschinenbau und Zerspanungstechnik Unterwellwnborn GmbH	100.00	100.00	Production and sale of long steel and related activities
CSN Mining International GmbH	79.75	79.75	Commercial and representation of products
CSN International Steel GmbH ⁽³⁾	100.00		Commercial and representation of products

Direct interest in joint operations: proportionate consolidation
Itá Energética S.A.	48.75	48.75	Electric power generation
Consórcio da Usina Hidrelétrica de Igarapava	17.92	17.92	Electric power consortium
Consórcio Itaúba	36.60	36.60	Electric power generation
Consórcio Passo Real	46.97	46.97	Electric power generation
Consórcio Dona Francisca	15.00	15.00	Electric power generation

Indirect interest in joint operations: proportionate consolidation
Consórcio Itaúba	63.40	63.40	Electric power generation
Consórcio Passo Real	48.31	48.31	Electric power generation

Direct interest in joint ventures: equity method
MRS Logística S.A.	18.75	18.64	Railroad transportation
Aceros Del Orinoco S.A. (*)	31.82	31.82	Dormant company
Transnordestina Logística S.A.	48.03	48.03	Railroad logistics
Equimac S.A	50.00	50.00	Rental of commercial and industrial machinery and equipment

Indirect interest in joint ventures: equity method
MRS Logística S.A.	14.95	14.86	Railroad transportation

Direct interest in associates: equity method
Arvedi Metalfer do Brasil S.A.	20.00	20.00	Metallurgy and Equity interests
Panatlântica S.A. ⁽¹⁾	29.92		Steel

Indirect interest in affiliates: equity method
Jaguari Energética S.A.	10.50	10.39	Electric power generation
Chapecoense Geração S.A. ⁽²⁾	9.00	8.91	Electric power generation
Parques Eólicos Palmares S.A.(*)			Dormant company
Ventos do Litoral Energia S.A.(*)			Dormant company
Ventos dos Índios Energia S.A.(*)			Dormant company
Companhia Energética Rio das Antas - Ceran ⁽²⁾	30.00	29.69	Electric power generation
Ventos do Sul Energia S.A. ⁽²⁾	10.00	9.90	Electric power generation
Foz Chapecó Energia S.A. ⁽²⁾	9.00	8.91	Electric power generation

Exclusive funds: full consolidation
Diplic II - Private credit balanced mutual fund	100.00	100.00	Investment fund
Caixa Vértice - Private credit balanced mutual fund	100.00	100.00	Investment fund
VR1 - Private credit balanced mutual fund	100.00	100.00	Investment fund

		Consolidated
	09/30/2024	09/30/2023
	09/30/2024	09/30/2023
Equity in results of affiliated companies
MRS Logística S.A.	385,676	337,534
Transnordestina	(16,385)	(17,898)
Arvedi Metalfer do Brasil	(302)	(918)
Equimac S.A	5,596	3,782
Indirect interest in affiliates - CEEE-G	22,200	34,680
Panatlântica S.A.	6,830
Fair Value Amortization	(22,775)	(41,476)
	380,840	315,704
Reclassification IAS 28 ⁽¹⁾	(66,676)	(59,389)
Other	140	3,267
Equity in results	314,304	259,582

							Parent company
Companies	Final balance at 12/31/2023	Increase (Decrease) in capital	Dividends	Equity Income	Comprehensive income	Others	Final balance at 09/30/2024


Investments under the equity method
Subsidiaries
CSN Steel S.L.U.	4,688,943			81,843	452,669		5,223,455
Sepetiba Tecon S.A.	372,251			10,195			382,446
Minérios Nacional S.A.	143,737			(21,742)			121,995
Fair Value - Minérios Nacional	2,122,071						2,122,071
Companhia Metalúrgica Prada	321,641			(111,198)			210,443
Goodwill - Companhia Metalúrgica Prada	63,509						63,509
CSN Mineração S.A.	8,532,643		(3,231,788)	2,003,172	(169,764)		7,134,263
CSN Energia S.A.	24,445			(10,047)			14,398
FTL - Ferrovia Transnordestina Logística S.A.	131,031			(21,671)			109,360
Companhia Florestal do Brasil	1,331,941			(84,932)	(2,584)		1,244,425
CBSI - Companhia Brasileira de Serviços de Infraestrutura	37,951			52,337			90,288
Goodwill - CBSI - Companhia Brasileira de Serviços de Infraestrutura	15,225						15,225
CSN Cimentos Brasil S.A.	6,555,144			(64,204)	(1,095)		6,489,845
Other	370			(45)			325
	24,340,902		(3,231,788)	1,833,708	279,226		23,222,048
Joint-ventures, Joint-operations and Affiliates
Itá Energética S.A.	193,122		(18,104)	(2,620)			172,398
MRS Logística S.A.	1,191,104		(63)	192,897	7,371		1,391,309
Transnordestina Logística S.A.	1,160,944			(16,385)			1,144,559
Fair Value -Transnordestina	659,106						659,106
Equimac S.A	23,793		(1,342)	5,596			28,047
Panatlântica S.A.		150,000	(321)	6,830	23,871	78,737	259,117
Arvedi Metalfer do Brasil	35,488			(302)			35,186
	3,263,557	150,000	(19,830)	186,016	31,242	78,737	3,689,722
Other ownership interest
Investments at fair value through profit or loss	78,737					(78,737)
Profits on subsidiaries' inventories	(20,109)			(35,073)			(55,182)
Other investments	29						29
	58,657			(35,073)		(78,737)	(55,153)

Total shareholdings	27,663,116	150,000	(3,251,618)	1,984,651	310,468		26,856,617

Subsidiaries with unsecured liabilities
CSN Islands VII Corp.	(2,516,395)			(359,240)			(2,875,635)
CSN Inova Ventures	(2,107,852)			(672,817)			(2,780,669)
CSN Islands XII Corp.	(3,286,160)			(802,378)			(4,088,538)
Estanho de Rondônia S.A.	(114,779)	109,500		(42,601)			(47,880)
Other				(1,457)			(1,457)
Total subsidiaries with unsecured liabilities	(8,025,186)	109,500		(1,878,493)			(9,794,179)

Equity Income				106,158

Classification of investments in the balance sheet
Equity interests	27,663,116						26,856,617
Investment Property	137,761						136,105
Total active investments	27,800,877						26,992,722
Provision for Investments with Unsecured Liabilities	(8,025,186)						(9,794,179)
Total active and passive investments	19,775,691						17,198,543

Account Code	Description	Accumulated of the Current Period 01/01/2024 to 09/30/2024	Accumulated of the Previous Period 01/01/2023 to 09/30/2023
6.01	Net cash provided by operating activities	(925,154)	689,607
6.01.01	Cash provided by operating activities	(175,473)	(370,145)
6.01.01.01	Net income for the period	(1,958,818)	(897,273)
6.01.01.02	Interest on loans and borrowings paid	1,307,125	1,303,753
6.01.01.03	Interest on loans and borrowings granted	(165,671)	(184,796)
6.01.01.04	Depreciation, amortization and depletion	983,338	871,377
6.01.01.05	Equity Results in Associate Companies	(99,504)	(1,406,327)
6.01.01.06	Deferred Taxes	(868,478)	(675,341)
6.01.01.08	Provision for tax, social security, labor, civil and environmental risks	43,359	(79,992)
6.01.01.09	Foreign exchange, net	80,674	600,634
6.01.01.10	Updated shares – fair value through profit or loss	542,108	105,438
6.01.01.12	Write-off and Estimated Losses net of Reversal	-	659
6.01.01.13	Allowance for credit loss on trade and other receivables, net	(10,381)	12,156
6.01.01.14	Charges on lease liabilities	1,233	897
6.01.01.15	Provision for consumption and services	(28,600)	10,539
6.01.01.18	Dividends receveid from Usiminas	(44,912)	(51,152)
6.01.01.19	Other Provisions	43,054	19,283
6.01.02	Decrease/(increase) in assets and decrease/(increase) in liabilities	(749,681)	1,059,752
6.01.02.01	Trade receivables - third parties	(168,781)	439
6.01.02.02	Trade receivables - related party	716,897	73,131
6.01.02.03	Inventory	(937,038)	1,592,293
6.01.02.04	Other receivables from related parties	1,153,746	1,977,499
6.01.02.05	Recoverable Taxes	(16,581)	(27,816)
6.01.02.06	Judicial Deposits	7,866	20,831
6.01.02.07	Cash received on settlement of derivatives, net	(16,757)	15,918
6.01.02.09	Trade Payables	18,237	330,555
6.01.02.10	Trade Payables – Forfaiting	(1,022,709)	(2,626,734)
6.01.02.11	Payroll and related taxes	68,918	60,730
6.01.02.12	Taxes Obligations	21,062	(204,343)
6.01.02.14	Payables to related parties	54,248	22,549
6.01.02.16	Interest paid	(1,158,345)	(1,002,965)
6.01.02.17	Interest received	1,391	2,271
6.01.02.18	Advances from Customers	-	783,181
6.01.02.19	Others	528,165	42,213
6.02	Net cash used in investing activities	(1,932,904)	(1,502,741)
6.02.01	Decrease (increase) in investments in investees	(143,953)	(223,134)
6.02.02	Acquisition of PP&E, intangible assets and investment properties	(1,643,683)	(1,128,242)
6.02.08	Intercompany loans granted	(138,603)	(172,933)
6.02.09	Intercompany loans received	3,888	3,888

Account Code	Description	Paid-up Capital	Capital Reserve, Granted Options and Treasury Shares	Earnings Reserve	Retained Earnings (Accumulated Losses)	Other Comprehensive Income	Shareholders’ Equity
5.01	Balance at the Beginning of the Period	10,240,000	32,720	8,988,442	-	228,305	19,489,467
5.02	Prior Year Adjustment	-	-	-	-	-	-
5.03	Adjusted Opening Balances	10,240,000	32,720	8,988,442	-	228,305	19,489,467
5.04	Capital Transaction with Shareholders	-	-	(1,614,000)	-	(14,544)	(1,628,544)
5.04.06	Dividends	-	-	(1,614,000)	-	-	(1,614,000)
5.04.08	(Loss) / gain on the percentage change in investments	-	-	-	-	(14,544)	(14,544)
5.05	Total Comprehensive Income	-	-	-	(897,273)	798,878	(98,395)
5.05.01	Net Income/(Loss) for the Period	-	-	-	(897,273)	-	(897,273)
5.05.02	Other Comprehensive Income	-	-	-	-	798,878	798,878
5.05.02.04	Translation Adjustments	-	-	-	-	(173,711)	(173,711)
5.05.02.06	Actuarial Gains/(Losses) on Pension Plan, net of Taxes	-	-	-	-	7,560	7,560
5.05.02.07	(Loss) / Gain on Cash Flow Hedge Accounting, net of Taxes	-	-	-	-	965,029	965,029
5.06	Changes in Shareholders' Equity	-	-	-	-	-	-
5.07	Balance at the End of the Period	10,240,000	32,720	7,374,442	(897,273)	1,012,639	17,762,528

Account Code	Description	Accumulated of the Current Period 01/01/2024 to 09/30/2024	Accumulated of the Previous Period 01/01/2023 to 09/30/2023
7.01	Revenues	16,860,309	16,838,916
7.01.01	Sales of Products and Rendering of Services	16,815,727	16,839,075
7.01.02	Other Revenues	64,624	(6,225)
7.01.04	Allowance (Reversal) for Expect Credit Losses	(20,042)	6,066
7.02	Inputs Acquired from Third Parties	(12,030,585)	(15,996,013)
7.02.01	Cost of Sales and Services	(10,953,809)	(14,958,584)
7.02.02	Materials, Electric Power, Outsourcing and Other	(985,134)	(979,656)
7.02.03	Impairment / Reversals of Assets	(91,642)	(57,773)
7.03	Gross Added Value	4,829,724	842,903
7.04	Retentions	(982,697)	(870,757)
7.04.01	Depreciation, Amortization and Depletion	(982,697)	(870,757)
7.05	Net Added Value Produced	3,847,027	(27,854)
7.06	Transferred Added Value	27,623	1,998,589
7.06.01	Share of Profit of Equity-Accounted Investments	106,158	1,406,327
7.06.02	Financial Income	(76,946)	331,013
7.06.03	Others	(1,589)	261,249
7.06.03.01	Other and Exchange Gains	(1,589)	261,249
7.07	Total Added Value to be Distributed	3,874,650	1,970,735
7.08	Distribution of Added Value	3,874,650	1,970,735
7.08.01	Employee Compensation	1,212,092	580,788
7.08.01.01	Salaries	924,172	452,375
7.08.01.02	Fringe Benefits	235,635	103,876
7.08.01.03	Unemployment Benefits (FGTS)	52,285	24,537
7.08.02	Taxes, Fees and Contributions	2,568,236	(192,103)
7.08.02.01	Federal	1,315,100	(368,913)
7.08.02.02	State	1,253,136	176,810
7.08.03	Return on Third-Party Capital	2,053,140	2,479,323
7.08.03.01	Interest	1,619,426	1,787,347
7.08.03.02	Rental Expenses	5,674	3,676
7.08.03.03	Others	428,040	688,300
7.08.04	Return on Shareholders' Equity	(1,958,818)	(897,273)
7.08.04.03	Retained Earnings / (Losses) for the Period	(1,958,818)	(897,273)

				09/30/2024				12/31/2023
	Joint-Venture			Joint-Operation	Joint-Venture			Joint-Operation
Equity interest (%)	MRS Logística	Transnordestina Logística	Equimac S.A.	Itá Energética	MRS Logística	Transnordestina Logística	Equimac S.A.	Itá Energética
Equity interest (%)	37.49%	48.03%	50.00%	48.75%	37.27%	48.03%	50.00%	48.75%
Balance sheet
Current Assets
Cash and cash equivalents	2,202,355	509,602	18,590	77,666	3,388,052	786,007	13,953	93,712
Advances to suppliers	94,959	43,882	42	378	101,318	6,161	77	409
Other current assets	1,109,802	79,141	22,330	23,822	1,390,540	67,758	16,747	30,517
Total current assets	3,407,116	632,625	40,962	101,866	4,879,910	859,926	30,777	124,638
Non-current Assets
Other non-current assets	458,523	89,265	142	17,416	679,749	97,560	599	18,054
Investments, PP&E and intangible assets	14,178,105	12,820,864	75,434	272,890	12,774,225	12,062,189	48,570	296,818
Total non-current assets	14,636,628	12,910,129	75,576	290,306	13,453,974	12,159,749	49,169	314,872
Total Assets	18,043,744	13,542,754	116,538	392,172	18,333,884	13,019,675	79,946	439,510

Current Liabilities
Borrowing and financing	367,297	224,797	25,496		993,367	167,201	8,552
Lease liabilities	605,370		295		565,002		684
Other current liabilities	1,707,315	112,797	14,058	13,919	2,111,251	80,851	8,310	21,222
Total current liabilities	2,679,982	337,594	39,849	13,919	3,669,620	248,052	17,546	21,222
Non-current Liabilities
Borrowing and financing	5,610,223	8,953,729	18,217		5,879,207	8,481,707	12,734
Lease liabilities	1,403,645				1,665,072		253
Other non-current liabilities	930,335	1,868,853	2,379	24,616	729,736	1,873,232	1,827	22,140
Total non-current liabilities	7,944,203	10,822,582	20,596	24,616	8,274,015	10,354,939	14,814	22,140
Shareholders’ equity	7,419,559	2,382,578	56,093	353,637	6,390,249	2,416,684	47,586	396,148
Total liabilities and shareholders’ equity	18,043,744	13,542,754	116,538	392,172	18,333,884	13,019,675	79,946	439,510

				01/01/2024 to 09/30/2024				01/01/2023 a 09/30/2023
	Joint-Venture			Joint-Operation		Joint-Venture		Joint-Operation
Equity interest (%)	MRS Logística	Transnordestina Logística	Equimac S.A.	Itá Energética	MRS Logística	Transnordestina Logística	Equimac S.A.	Itá Energética
Equity interest (%)	37.49%	48.03%	50.00%	48.75%	37.27%	48.03%	50.00%	48.75%
Income Statements
Net revenue	5,414,307		53,334	138,022	4,655,746		37,948	145,136
Cost of sales and services	(2,873,611)		(28,332)	(87,801)	(2,429,094)		(20,782)	(69,762)
Gross profit	2,540,696		25,002	50,221	2,226,652		17,166	75,374
Operating (expenses) income	(298,594)	(24,336)	(5,036)	(58,124)	(375,268)	(30,297)	(3,406)	(62,265)
Financial income (expenses), net	(716,275)	(9,771)	(1,944)	3,200	(483,120)	(6,961)	(2,196)	4,425
Profit/(Loss) before IR/CSLL	1,525,827	(34,107)	18,022	(4,703)	1,368,264	(37,258)	11,564	17,534
Current and deferred IR/CSLL	(492,103)		(5,804)	(637)	(462,604)		(848)	(5,753)
Profit / (loss) for the period	1,033,724	(34,107)	12,218	(5,340)	905,660	(37,258)	10,716	11,781

									Consolidated
	Ref.	Land	Buildings and Infrastructure	Machinery, equipment and facilities	Furniture and fixtures	Construction in progress (*)	Right of use (i)	Other (**)	Total
Balance at December 31, 2023		525,307	4,532,319	17,419,522	45,917	4,425,130	674,786	304,477	27,927,458
Cost		525,307	9,110,694	39,597,174	297,916	4,425,130	1,126,977	860,818	55,944,016
Accumulated depreciation			(4,578,375)	(22,177,652)	(251,999)		(452,191)	(556,341)	(28,016,558)
Balance at December 31, 2023		525,307	4,532,319	17,419,522	45,917	4,425,130	674,786	304,477	27,927,458
Effect of changes in foreign exchange rate		9,942	9,588	57,781	1,630	8,937	7,931	916	96,725
Acquisitions		1,105	19,464	141,859	5,921	3,283,177	1,268	13,309	3,466,103
Capitalized interest	26					136,115			136,115
Write-offs	25			(7,988)	(19)	(22,745)	(855)	(164)	(31,771)
Depreciation	24		(216,623)	(2,178,782)	(7,489)		(167,403)	(42,153)	(2,612,450)
Transfers to other asset categories		7,663	205,232	2,340,490	20,464	(2,697,921)		124,072
Transfer between groups - intangible assets and investment property		(726)				(29,593)			(30,319)
Right of use - Remeasurement							265,105		265,105
Other				(916)		(21,366)		3	(22,279)
Balance at September 30, 2024		543,291	4,549,980	17,771,966	66,424	5,081,734	780,832	400,460	29,194,687
Cost		543,291	9,373,189	42,298,908	329,055	5,081,734	1,286,454	985,578	59,898,209
Accumulated depreciation			(4,823,209)	(24,526,942)	(262,631)		(505,622)	(585,118)	(30,703,522)
Balance at September 30, 2024		543,291	4,549,980	17,771,966	66,424	5,081,734	780,832	400,460	29,194,687

				Consolidated
				09/30/2024
Nature	New debts	Maturities	Repayment	Interest payment
Pre-Payment	693,280	2027	(322,427)	(401,243)
Bonds, ACC, CCE and Facility	4,944,313	2024 to 2027	(2,854,595)	(1,040,901)
BNDES/FINAME/FINEP, Debentures, NCE, Facility and CCB	2,298,000	2024 to 2029	(2,004,424)	(1,352,068)
	7,935,593		(5,181,446)	(2,794,212)

	Consolidated
				09/30/2024				12/31/2023
	Ref.	Fair value through profit or loss	Measured at amortized cost	Balances	Fair value through other comprehensive income	Fair value through profit or loss	Measured at amortized cost	Balances
Assets
Current
Cash and cash equivalents	3		18,452,408	18,452,408			16,046,218	16,046,218
Financial investments	4	984,893	43,496	1,028,389		1,493,204	39,800	1,533,004
Trade receivables	5		2,318,282	2,318,282			3,269,764	3,269,764
Dividends and interest on equity	8		182,459	182,459			185,178	185,178
Financial derivatives	8					32,211		32,211
Trading securities	8	3,877		3,877		7,198		7,198
Loans - related parties	20.a		5,310	5,310			5,316	5,316
Receivables by indemnity	8						106,405	106,405
Total		988,770	21,001,955	21,990,725		1,532,613	19,652,681	21,185,294

Non-current
Financial investments	4		152,941	152,941			251,299	251,299
Other trade receivables			1,888	1,888			10,406	10,406
Eletrobrás compulsory loan	8		58,707	58,707			62,913	62,913
Receivables by indemnity	8		786,616	786,616			992,577	992,577
Loans - related parties	20.a		1,839,601	1,839,601			1,659,412	1,659,412
Investments	9					78,737		78,737
Total			2,839,753	2,839,753		78,737	2,976,607	3,055,344

Total Assets		988,770	23,841,708	24,830,478		1,611,350	22,629,288	24,240,638

Liabilities
Current
Borrowing and financing	12		9,452,033	9,452,033			7,701,796	7,701,796
Lease liabilities	14		212,829	212,829			137,638	137,638
Trade payables	15		7,234,414	7,234,414			7,739,520	7,739,520
Trade payables - Drawee Risk and forfaiting	15.a		3,727,054	3,727,054			4,209,434	4,209,434
Dividends and interest on capital	16		578,337	578,337			80,624	80,624
Financial derivatives	16				672,280	263,747		936,027
Total			21,204,667	21,204,667	672,280	263,747	19,869,012	20,805,039

Non-current
Borrowing and financing	12		42,792,577	42,792,577			37,772,116	37,772,116
Lease liabilities	14		646,193	646,193			596,123	596,123
Trade payables	15		98,137	98,137			31,060	31,060
Financial derivatives		80,722		80,722		60,468		60,468
Concessions to be paid	16		72,860	72,860			74,177	74,177
Total		80,722	43,609,767	43,690,489		60,468	38,473,476	38,533,944

Total Liabilities		80,722	64,814,434	64,895,156	672,280	324,215	58,342,488	59,338,983

	Parent company
				09/30/2024			12/31/2023
	Ref.	Fair value through profit or loss	Measured at amortized cost	Balances	Fair value through profit or loss	Measured at amortized cost	Balances
	Ref.	Fair value through profit or loss	Measured at amortized cost	Balances	Fair value through profit or loss	Measured at amortized cost	Balances
Assets
Current
Cash and cash equivalents	3		1,472,672	1,472,672		2,270,070	2,270,070
Financial investments	4	984,893	28,101	1,012,994	1,493,204	31,505	1,524,709
Trade receivables	5		1,641,020	1,641,020		1,870,367	1,870,367
Derivative financial instruments	8				12,122		12,122
Dividends and interest on equity	8		2,625,583	2,625,583		562,938	562,938
Trading securities	8	3,721		3,721	7,054		7,054
Loans - related parties	20.a		5,310	5,310		5,316	5,316
Total		988,614	5,772,686	6,761,300	1,512,380	4,740,196	6,252,576

Non-current
Financial investments	4		125,306	125,306		111,350	111,350
Other trade receivables			1,003	1,003		1,003	1,003
Eletrobrás compulsory loan	8		56,002	56,002		60,136	60,136
Receivables by indemnity	8		768,943	768,943		992,577	992,577
Loans - related parties	20.a		2,395,536	2,395,536		2,096,536	2,096,536
Investments	9				78,737		78,737
Total		-	3,346,790	3,346,790	78,737	3,261,602	3,340,339
Total Assets		988,614	9,119,476	10,108,090	1,591,117	8,001,798	9,592,915

Liabilities
Current
Borrowing and financing	12		6,438,158	6,438,158		5,613,314	5,613,314
Lease liabilities	14		10,796	10,796		6,523	6,523
Trade payables	15		3,822,473	3,822,473		3,976,931	3,976,931
Trade payables - Drawee Risk and forfaiting	15.a		2,957,294	2,957,294		3,980,003	3,980,003
Dividends and interest on capital	16		5,740	5,740		5,230	5,230
Total		-	13,234,461	13,234,461	-	13,582,001	13,582,001

Non-current
Borrowing and financing	12		22,735,589	22,735,589		18,168,815	18,168,815
Lease liabilities	14		29,881	29,881		476	476
Trade payables	15		94,916	94,916		11,184	11,184
Financial derivatives		100,032		100,032
Total		100,032	22,860,386	22,960,418	-	18,180,475	18,180,475
Total Liabilities		100,032	36,094,847	36,194,879	-	31,762,476	31,762,476

	09/30/2024	12/31/2023
Foreign Exchange Exposure	(Amounts in US$’000)	(Amounts in US$’000)
Cash and cash equivalents abroad	2,374,374	2,228,736
Trade receivables	66,928	292,028
Financial investments	13,860	15,597
Borrowing and financing	(5,924,183)	(5,615,893)
Trade payables	(439,148)	(524,622)
Others	(55,114)	(42,474)
Natural Gross Foreign Exchange Exposure (assets - liabilities)	(3,963,283)	(3,646,628)
Cash flow hedge	5,287,266	3,931,879
Exchange rate swap CDI x Dollar	(133,000)	(67,000)
Exchange rate swap Real x Dollar	(165,000)	(115,000)
Net foreign exchange exposure	1,025,983	103,251

				09/30/2024
Currency	Exchange rate	Probable scenario	Scenario 1	Scenario 2
USD	5.4481	5.7149	5.5871	4.9763
EUR	6.0719	6.1607	6.2349	5.2812
USD x EUR	1.1145	1.0780	1.1437	0.9937

					09/30/2024
Instruments	Notional (in millions de USD)	Risk	Probable scenario (*) R$	Scenario 1 R$	Scenario 2 R$
Gross exchange position	(3,963)	Dollar	(1,354)	(551)	1,870
Cash flow hedge	5,287	Dollar	1,807	735	(2,495)
Exchange rate swap CDI x Dollar	(133)	Dollar	(45)	(18)	63
Exchange rate swap Real x Dollar	(165)	Dollar	(56)	(16)	54
Net exchange position	1,026		352	150	(508)

						Impact on balances on 09/30/2024
Changes in interest rates	% p.a	Assets	Liabilities	Probable scenario (*)	Scenario 1	Scenario 2
CDI	10.65%	(5,513,826)	12,494,818	7,724,468	7,976,925	7,681,210
TJLP	6.91%		800,985	856,333	858,997	852,599
IPCA	3.31%		28,376	29,316	29,694	29,262
SOFR 6M	4.25%		4,909,751	5,118,605	5,183,538	4,934,729
SOFR	4.96%		4,589,838	4,817,494	4,834,996	4,603,797
EURIBOR 3M	3.28%		683,098	705,497	709,186	703,000
EURIBOR 6M	3.11%		25,820	26,622	26,885	26,547

	12/31/2023	Transactions	Realization	09/30/2024
Cash flow hedge – “Platts”	(672,280)	1,125,187	(452,907)
Income tax and social security contributions on cash flow hedge	228,575	(382,563)	153,988
Fair Value of cash flow hedge - Platts, net	(443,705)	742,624	(298,919)

									09/30/2024
Designation Date	Hedging Instrument	Hedged item	Type of hedged risk	Hedged period	Exchange rate on designation	Designated amounts (US$’000)	Amortizated part (USD'000)	Effect on Result (*) (R$'000)	Impact on Shareholders' equity (R$'000)
07/31/2019	Bonds and Export prepayments in US$ to third parties	Portion of highly probable future monthly iron ore exports	Foreign exchange - R$ vs. US$ spot rate	January 2020 - April 2026	3.7649	1,342,761	(871,761)		(792,787)
01/10/2020	Bonds	Portion of highly probable future monthly iron ore exports	Foreign exchange - R$ vs. US$ spot rate	March 2020 to November 2025 until December 2050	4.0745	1,416,000	(1,404,021)		(1,339,508)
01/28/2020	Bonds	Portion of highly probable future monthly iron ore exports	Foreign exchange - R$ vs. US$ spot rate	March 2027 - January 2028	4.2064	1,000,000			(1,241,700)
06/01/2022	Bonds and Export prepayments in US$ to third parties	Portion of highly probable future monthly iron ore exports	Foreign exchange - R$ vs. US$ spot rate	June 2022 - April 2032	4.7289	1,145,300	(151,210)	(3,969)	(714,950)
12/01/2022	Bonds	Portion of highly probable future monthly iron ore exports	Foreign exchange - R$ vs. US$ spot rate	December 2022 - June 2031	5.0360	490,000	(37,000)		(186,681)
12/01/2022	Advance on foreign exchange contract	Portion of highly probable future monthly iron ore exports	Foreign exchange - R$ vs. US$ spot rate	December 2022 - December 2025	5.2565	100,000			(19,160)
12/01/2022	Advance on foreign exchange contract	Portion of highly probable future monthly iron ore exports	Foreign exchange - R$ vs. US$ spot rate	December 2022 - January 2024	5.2660	50,000	(50,000)	17,240
06/01/2022	Export prepayments in US$ to third parties	Portion of highly probable future monthly iron ore exports	Foreign exchange - R$ vs. US$ spot rate	June 2022 - May 2033	4.7289	878,640	(138,520)	(13,183)	(532,294)
12/01/2022	Export prepayments in US$ to third parties	Portion of highly probable future monthly iron ore exports	Foreign exchange - R$ vs. US$ spot rate	December 2022 - June 2027	5.0360	70,000			(28,857)
05/16/2024	Export prepayments in US$ to third parties	Portion of highly probable future monthly iron ore exports	Foreign exchange - R$ vs. US$ spot rate	August 2025 - March 2035	5.1270	208,717			(67,019)
05/16/2024	Export Prepayments in US$ with third parties, ACC and Bonds	Portion of highly probable future monthly iron ore exports	Foreign exchange - R$ vs. US$ spot rate	September 2024 - March 2035	5.1270	1,202,000	(3,640)	(1,169)	(384,803)
06/06/2024	Advance on foreign exchange contract	Portion of highly probable future monthly iron ore exports	Foreign exchange - R$ vs. US$ spot rate	June 2024 - February 2025	5.2700	30,000			(5,343)
06/25/2024	Advance on foreign exchange contract	Portion of highly probable future monthly iron ore exports	Foreign exchange - R$ vs. US$ spot rate	June 2024 - February 2025	5.4405	10,000			(76)
Total						7,943,418	(2,656,152)	(1,081)	(5,313,178)

						Consolidated
At September 30, 2024	Ref.	Less than one year	From one to two years	From two to five years	Over five years	Total
Loans, financing and debentures	12.b	9,452,033	6,823,047	17,094,970	18,874,560	52,244,610
Lease liabilities	14	212,829	200,988	193,097	252,108	859,022
Financial derivatives	13.c				80,722	80,722
Trade payables	15	7,234,414	23,933	47,200	27,004	7,332,551
Trade payables - Drawee Risk and forfaiting	15.a	3,727,054				3,727,054
Dividends and interest on capital	16	578,337				578,337
Concessions to be paid	16		3,411	5,117	64,758	73,286
		21,204,667	7,051,379	17,340,384	19,299,152	64,895,582

		09/30/2024		12/31/2023
	Closing Balance	Fair value	Closing Balance	Fair value
Fixed Rate Notes (*)	19,615,120	17,808,287	15,030,441	12,825,475

Class of shares	09/30/2024				12/31/2023				09/30/2024	09/30/2023
Class of shares	Quantity	Equity interest (%)	Share price	Closing Balance	Quantity	Equity interest (%)	Share price	Closing Balance	Profit or loss (note 26)
USIM3	106,620,851	15.12%	6.01	640,792	106,620,851	15.12%	9.20	980,912	(340,120)	(50,112)
USIM5	55,144,456	10.07%	6.24	344,101	55,144,456	10.07%	9.29	512,292	(168,191)	(28,675)
				984,893				1,493,204	(508,311)	(78,787)
PATI3					2,705,726	11.31%	29.10	78,737	-	(26,651)
				984,893				1,571,941	(508,311)	(105,438)

Thousands of reals	09/30/2024	12/31/2023
Shareholder's equity (equity)	15,235,016	19,684,838
Borrowings and Financing (Third-party capital)	51,631,661	44,859,075
Gross Debit/Shareholder's equity	3.39	2.28

				Consolidated
	Less than one year	Between one and five years	Over five years	Total
Leases	223,993	541,054	1,398,247	2,163,294
Present value adjustment - Leases	(11,164)	(146,969)	(1,146,139)	(1,304,272)
	212,829	394,085	252,108	859,022

				Consolidated
	Nine-month period		Three-month period
	09/30/2024	09/30/2023	09/30/2024	09/30/2023
Contract less than 12 months	880	3,431		736
Lower Assets value	7,840	11,795	2,290	3,671
Variable lease payments	259,699	302,302	118,721	102,466
	268,419	317,528	121,011	106,873


				Parent company
	Nine-month period		Three-month period
	09/30/2024	09/30/2023	09/30/2024	09/30/2023
Lower Assets value	5,660	6,146	1,729	1,993
	5,660	6,146	1,729	1,993

Trade payables	Forfaiting	No Forfaiting
Owed between 1 and 180 days	2,664,520	6,528,178
Owed between 181 to 360 days	1,062,534	706,237
Over 360 days		98,136
Total	3,727,054	7,332,551

Changes in exchange rate	24,436
Interest Appropriation	18,958
Total	43,394