National Steel Co 6-K, filed May 10, 2021

National Steel Co (SID)

6-K 2021-05-10 For: 2021-03-31

View Original

Added on April 11, 2026

About this 6-K

National Steel Co filed this 6-K on May 10, 2021.

Search and read filings like this one from Claude or ChatGPT with the SEC filings MCP server →

Company Information
Capital Breakdown	1
Parent Company Financial Statements
Balance Sheet – Assets	2
Balance Sheet – Liabilities	3
Statement of Income	4
Statement of Comprehensive Income	5
Statement of Cash Flows	6
Statement of Changes in Shareholders’ Equity
01/01/2021 to 03/31/2021	8
01/01/2020 to 03/31/2020	9
Statement of Value Added	10
Consolidated Financial Statements
Balance Sheet – Assets	11
Balance Sheet - Liabilities	12
Statement of Income	14
Statement of Comprehensive Income	15
Statement of Cash Flows	16
Statement of Changes in Shareholders’ Equity
01/01/2021 to 03/31/2021	18
01/01/2020 to 03/31/2020	19
Statement of Value Added	20
Comments on the Company’s Consolidated Performance
Notes to the quarterly financial information	21
Comments on the Performance of Business Projections
Reports and Statements
Unqualified Independent Auditors’ Review Report	68

Number of Shares (Units)	Current quarter 03/31/2021
Paid-in Capital
Common	1,387,524,047
Preferred	0
Total	1,387,524,047
Treasury Shares
Common	7,409,500
Preferred	0
Total	7,409,500

Parent Company Financial Statements / Balance Sheet - Assets
(R$ thousand)

Code	Description	Current Quarter 03/31/2021	Previous Year 12/31/2020
1	Total Assets	55,794,836	53,196,550
1.01	Current assets	15,965,807	14,879,594
1.01.01	Cash and cash equivalents	5,126,462	4,647,125
1.01.02	Financial investments	4,279,964	3,780,891
1.01.02.01	Financial investments measured a fair value through profit or loss	3,817,603	3,305,109
1.01.02.01.03	Financial investments measured a fair value through profit or loss – Usiminas’ shares	3,817,603	3,305,109
1.01.02.03	Financial investments at amortized cost	462,361	475,782
1.01.03	Trade receivables	1,699,363	1,549,703
1.01.04	Inventory	3,625,618	3,014,446
1.01.06	Recoverable taxes	959,735	1,381,853
1.01.08	Other current assets	274,665	505,576
1.01.08.03	Others	274,665	505,576
1.01.08.03.02	Prepaid expenses	116,588	94,782
1.01.08.03.03	Dividends receivable	28,156	329,413
1.01.08.03.04	Others	129,921	81,381
1.02	Non-current assets	39,829,029	38,316,956
1.02.01	Long-term assets	8,536,877	8,406,417
1.02.01.03	Financial investments at amortized cost	132,635	123,409
1.02.01.07	Deferred taxes assets	3,785,791	3,799,707
1.02.01.10	Other non-current assets	4,618,451	4,483,301
1.02.01.10.03	Recoverable taxes	762,776	738,431
1.02.01.10.04	Judicial deposits	224,675	221,016
1.02.01.10.05	Prepaid expenses	91,568	99,834
1.02.01.10.06	Receivable from related parties	2,019,900	1,907,877
1.02.01.10.07	Others	1,519,532	1,516,143
1.02.02	Investments	24,080,191	19,546,493
1.02.02.01	Equity interest	23,935,793	19,401,494
1.02.02.02	Investment Property	144,398	144,999
1.02.03	Property, plant and equipment	7,173,674	10,315,724
1.02.03.01	Property, plant and equipment in operation	6,210,917	8,598,597
1.02.03.02	Right of use in leases	21,769	64,659
1.02.03.03	Property, plant and equipment in progress	940,988	1,652,468
1.02.04	Intangible assets	38,287	48,322

Parent Company Financial Statements / Balance Sheet – Liabilities
(R$ thousand)

Code	Description	Current Quarter 03/31/2021	Previous Year 12/31/2020
2	Total Liabilities	55,794,836	53,196,550
2.01	Current liabilities	11,488,593	10,756,084
2.01.01	Payroll and related taxes	135,204	138,761
2.01.02	Trade payables	4,167,535	4,133,089
2.01.03	Tax payables	339,343	289,095
2.01.04	Borrowings and financing	3,547,956	3,858,493
2.01.05	Other payables	3,256,079	2,302,188
2.01.05.02	Others	3,256,079	2,302,188
2.01.05.02.04	Dividends and interests on shareholder´s equity	901,982	901,983
2.01.05.02.05	Advances from clients	169,877	196,595
2.01.05.02.06	Trade payables – Forfaiting and Drawee risk	1,469,209	623,861
2.01.05.02.07	Lease liabilities	7,829	26,546
2.01.05.02.08	Other payables	707,182	553,203
2.01.06	Provisions	42,476	34,458
2.01.06.01	Provision for tax, social security, labor and civil risks	42,476	34,458
2.02	Non-current liabilities	29,918,755	32,527,015
2.02.01	Borrowings and financing	21,320,194	24,423,753
2.02.02	Other payables	513,345	771,292
2.02.02.02	Others	513,345	771,292
2.02.02.02.03	Lease liabilities	15,771	40,561
2.02.02.02.04	Derivative financial instruments	119,306	97,535
2.02.02.02.05	Trade payables	145,301	376,753
2.02.02.02.06	Other payables	232,967	256,443
2.02.04	Provisions	8,085,216	7,331,970
2.02.04.01	Provision for tax, social security, labor and civil risks	359,211	401,157
2.02.04.02	Other provisions	7,726,005	6,930,813
2.02.04.02.03	Provision for environmental liabilities and decommissioning of assets	181,260	229,524
2.02.04.02.04	Pension and healthcare plan	758,426	758,426
2.02.04.02.05	Provision for losses on investments	6,786,319	5,942,863
2.03	Shareholders’ equity	14,387,488	9,913,451
2.03.01	Paid-up capital	6,040,000	6,040,000
2.03.02	Capital reserves	32,720	32,720
2.03.04	Earnings reserves	5,824,350	5,824,350
2.03.04.01	Legal reserve	468,291	468,291
2.03.04.02	Statutory reserve	5,414,323	5,414,323
2.03.04.09	Treasury shares	(58,264)	(58,264)
2.03.05	Accumulated earnings (losses)	5,240,015	-
2.03.08	Other comprehensive income	(2,749,597)	(1,983,619)

Parent Company Financial Statements / Statement of Income
(R$ thousand)

Code	Description	Year to date 01/01/2021 to 03/31/2021	YTD previous year 01/01/2020 to 03/31/2020
3.01	Revenues from sale of goods and rendering of services	5,373,279	3,031,309
3.02	Costs from sale of goods and rendering of services	(3,689,909)	(2,778,380)
3.03	Gross profit	1,683,370	252,929
3.04	Operating (expenses)/income	3,302,930	(1,262,912)
3.04.01	Selling expenses	(167,212)	(162,239)
3.04.02	General and administrative expenses	(57,691)	(50,192)
3.04.04	Other operating income	2,531,577	74,847
3.04.05	Other operating expenses	(393,647)	(534,638)
3.04.06	Equity in results of affiliated companies	1,389,903	(590,690)
3.05	Income before financial income (expenses) and taxes	4,986,300	(1,009,983)
3.06	Financial income (expenses)	409,488	(351,172)
3.06.01	Financial income	579,338	53,376
3.06.02	Financial expenses	(169,850)	(404,548)
3.06.02.01	Net exchange differences over financial instruments	172,004	931,016
3.06.02.02	Financial expenses	(341,854)	(1,335,564)
3.07	Income before income taxes	5,395,788	(1,361,155)
3.08	Income tax and social contribution	(155,773)	304
3.09	Net income from continued operations	5,240,015	(1,360,851)
3.11	Net income for the year	5,240,015	(1,360,851)
3.99	Earnings per share – (Reais / Share)	-	-
3.99.01	Basic earnings per share	-	-
3.99.01.01	Common shares	3.7968	- 0.9860
3.99.02	Diluted earnings per share	-	-
3.99.02.01	Common shares	3.7968	- 0.9860

(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)
Quarterly Financial Information - March 31, 2021 – CIA SIDERURGICA NACIONAL	Version: 1

6.02	Net cash investment activities	2,863,731	(297,419)
6.02.01	Investments / AFAC / Acquisitions of Shares	(32,550)	(2,180)
6.02.02	Purchase of property, plant and equipment, intangible assets and investment property	(195,882)	(196,628)
6.02.05	Intercompany loans granted	(88,158)	(98,614)
6.02.06	Intercompany loans received	-	4,076
6.02.08	Financial Investments, net of redemption	15,709	(4,073)
6.02.09	Net cash received from sale of CSN Mineração's shares	3,164,612	-
6.03	Net cash used in financing activities	(5,086,846)	1,375,211
6.03.01	Borrowings and financing raised	40,903	80,744
6.03.02	Transactions cost - Borrowings and financing	(11,423)	(1,980)
6.03.03	Borrowings and financing – related parties	1,394,275	2,205,145
6.03.04	Amortization of borrowings and financing	(3,226,111)	(889,247)
6.03.05	Amortization of borrowings and financing - related parties	(3,282,109)	(13,053)
6.03.06	Amortization of leases	(2,381)	(6,262)
6.03.07	Dividends and interest on shareholder’s equity	-	(136)
6.05	Increase (decrease) in cash and cash equivalents	479,337	1,033,879
6.05.01	Cash and equivalents at the beginning of the year	4,647,125	392,107
6.05.02	Cash and equivalents at the end of the year	5,126,462	1,425,986

Consolidated Financial Statements / Balance Sheet – Assets
(R$ thousand)
Code	Description	Current Quarter 03/31/2021	Previous Year 12/31/2020
1	Total assets	69,678,932	63,002,149
1.01	Current assets	29,770,912	23,386,194
1.01.01	Cash and cash equivalents	13,908,238	9,944,586
1.01.02	Financial investments	4,282,151	3,783,362
1.01.02.01	Financial investments measured a fair value through profit or loss	3,817,603	3,305,109
1.01.02.01.03	Financial investments measured a fair value through profit or loss – Usiminas’ shares	3,817,603	3,305,109
1.01.02.03	Financial investments at amortized cost	464,548	478,253
1.01.03	Trade receivables	4,219,052	2,867,352
1.01.04	Inventory	5,673,189	4,817,586
1.01.06	Recoverable taxes	1,199,100	1,605,494
1.01.08	Other current assets	489,182	367,814
1.01.08.03	Others	489,182	367,814
1.01.08.03.02	Prepaid expenses	266,824	211,027
1.01.08.03.03	Dividends receivable	38,086	38,088
1.01.08.03.04	Derivative financial instruments	39,236	-
1.01.08.03.05	Others	145,036	118,699
1.02	Non-current assets	39,908,020	39,615,955
1.02.01	Long-term assets	9,080,505	8,887,158
1.02.01.03	Financial investments at amortized cost	132,635	123,409
1.02.01.05	Inventory	381,175	347,304
1.02.01.07	Deferred taxes assets	3,929,974	3,874,946
1.02.01.10	Other non-current assets	4,636,721	4,541,499
1.02.01.10.03	Recoverable taxes	946,792	938,452
1.02.01.10.04	Judicial deposits	338,890	325,117
1.02.01.10.05	Prepaid expenses	121,513	129,455
1.02.01.10.06	Receivable from related parties	1,707,780	1,630,070
1.02.01.10.07	Others	1,521,746	1,518,405
1.02.02	Investments	3,746,507	3,695,780
1.02.02.01	Equity interest	3,587,397	3,535,906
1.02.02.02	Investment Property	159,110	159,874
1.02.03	Property, plant and equipment	19,759,932	19,716,223
1.02.03.01	Property, plant and equipment in operation	15,485,037	15,519,233
1.02.03.02	Right of use in leases	523,436	516,668
1.02.03.03	Property, plant and equipment in progress	3,751,459	3,680,322
1.02.04	Intangible assets	7,321,076	7,316,794

Consolidated Financial Statements / Statements of Income
(R$ thousand)
Code	Description	Year to date 01/01/2021 to 03/31/2021	YTD previous year 01/01/2020 to 03/31/2020
3.01	Revenues from sale of goods and rendering of services	11,913,328	5,334,653
3.02	Costs from sale of goods and rendering of services	(6,178,784)	(4,017,707)
3.03	Gross profit	5,734,544	1,316,946
3.04	Operating (expenses)/income	1,442,516	(1,221,313)
3.04.01	Selling expenses	(422,586)	(390,915)
3.04.02	General and administrative expenses	(134,463)	(119,055)
3.04.04	Other operating income	2,560,232	102,689
3.04.05	Other operating expenses	(574,112)	(768,924)
3.04.06	Equity in results of affiliated companies	13,445	(45,108)
3.05	Income before financial income (expenses) and taxes	7,177,060	95,633
3.06	Financial income (expenses)	(201,507)	(1,201,138)
3.06.01	Financial income	585,585	65,131
3.06.02	Financial expenses	(787,092)	(1,266,269)
3.06.02.01	Net exchange differences over financial instruments	(56,328)	364,882
3.06.02.02	Financial expenses	(730,764)	(1,631,151)
3.07	Income before income taxes	6,975,553	(1,105,505)
3.08	Income tax and social contribution	(1,278,240)	(206,204)
3.09	Net income from continued operations	5,697,313	(1,311,709)
3.11	Consolidated net income for the year	5,697,313	(1,311,709)
3.11.01	Earnings attributable to the controlling interests	5,240,015	(1,360,851)
3.11.02	Earnings it attributable to the non-controlling interests	457,298	49,142
3.99	Earnings per share – (Reais / Share)	-	-
3.99.01	Basic earnings per share	-	-
3.99.01.01	Common shares	3.79680	- 0.98604
3.99.02	Diluted earnings per share	-	-
3.99.02.01	Common shares	3.79680	- 0.98604

6.03	Net cash used in financing activities	(2,212,281)	2,157,127
6.03.01	Borrowings and financing raised	310,141	4,553,970
6.03.02	Transactions cost - Borrowings and financing	(11,423)	(9,131)
6.03.03	Amortization of borrowings and financing	(3,653,158)	(2,363,666)
6.03.04	Dividends and interest on shareholder’s equity	(176,217)	(136)
6.03.05	Amortization of leases	(29,486)	(23,910)
6.03.06	Issuance of new CSN Mineração's shares	1,347,862	-
6.04	Exchange rate on translating cash and cash equivalents	(16,658)	(27,026)
6.05	Increase (decrease) in cash and cash equivalents	3,963,652	2,192,183
6.05.01	Cash and equivalents at the beginning of the year	9,944,586	1,088,955
6.05.02	Cash and equivalents at the end of the year	13,908,238	3,281,138

	Consolidated		Parent Company
	03/31/2021	12/31/2020	03/31/2021	12/31/2020
Cash and banks
In Brazil	94,224	245,185	58,528	238,509
Abroad	6,265,404	3,899,282	111,108	199,994
	6,359,628	4,144,467	169,636	438,503

Investments
In Brazil	7,498,424	5,800,119	4,956,826	4,208,622
Abroad	50,186
	7,548,610	5,800,119	4,956,826	4,208,622
	13,908,238	9,944,586	5,126,462	4,647,125

	Consolidated				Parent Company
	Current		Non Current		Current		Non Current
	03/31/2021	12/31/2020	03/31/2021	12/31/2020	03/31/2021	12/31/2020	03/31/2021	12/31/2020
Investments ⁽¹⁾	464,548	478,253			462,361	475,782
Usiminas shares ⁽²⁾	3,817,603	3,305,109			3,817,603	3,305,109
Bonds ⁽³⁾			132,635	123,409			132,635	123,409
	4,282,151	3,783,362	132,635	123,409	4,279,964	3,780,891	132,635	123,409

	Number of shares held by CSN in units	Equity interests (%)
Companies	Number of shares held by CSN in units	03/31/2021	12/31/2020	Core business

Direct interest in subsidiaries: full consolidation
CSN Islands VII Corp.	20,001,000	100.00	100.00	Financial transactions
CSN Inova Ventures	50,000	100.00	100.00	Financial transactions
CSN Islands XII Corp.	1,540	100.00	100.00	Financial transactions
CSN Steel S.L.U.	22,042,688	100.00	100.00	Equity interests and Financial transactions
TdBB S.A (*)		100.00	100.00	Equity interests
Sepetiba Tecon S.A.	254,015,052	99.99	99.99	Port services
Minérios Nacional S.A.	141,719,295	99.99	99.99	Mining and Equity interests
Companhia Florestal do Brasil	66,354,391	99.99	99.99	Reforestation
Estanho de Rondônia S.A.	195,454,162	99.99	99.99	Tin Mining
Companhia Metalúrgica Prada	555,142,354	99.99	99.99	Manufacture of containers and distribution of steel products
CSN Mineração S.A. ⁽¹⁾	4,374,779,493	78.24	87.52	Mining
CSN Energia S.A.	43,149	99.99	99.99	Sale of electric power
FTL - Ferrovia Transnordestina Logística S.A. ⁽²⁾	510,726,198	92.71	92.38	Railroad logistics
Nordeste Logística S.A.	99,999	99.99	99.99	Port services
CSN Inova Ltd.	10,000	100.00	100.00	Advisory and implementation of new development projec
CBSI - Companhia Brasileira de Serviços de Infraestrutura	4,669,986	99.99	99.99	Equity interests and product sales and iron ore
CSN Cimentos S.A. ⁽³⁾	2,956,094,581	99.99	90.00	Manufacturing and sale of cement

Indirect interest in subsidiaries: full consolidation
Lusosider Projectos Siderúrgicos S.A.		100.00	100.00	Equity interests and product sales
Lusosider Aços Planos, S. A.		99.99	99.99	Steel and Equity interests
CSN Resources S.A.		100.00	100.00	Financial transactions and Equity interests
Companhia Brasileira de Latas		99.99	99.99	Sale of cans and containers in general and Equity interests
Companhia de Embalagens Metálicas MMSA		99.67	99.67	Production and sale of cans and related activities
Companhia de Embalagens Metálicas - MTM		99.67	99.67	Production and sale of cans and related activities
CSN Steel Holdings 1, S.L.U.		100.00	100.00	Financial transactions, product sales and Equity interests
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		78.24	87.52	Financial transactions, product sales and Equity interests
CSN Mining GmbH		78.24	87.52	Financial transactions, product sales and Equity interests
CSN Mining Asia Limited		78.24	87.52	Commercial representation
Lusosider Ibérica S.A.		100.00	100.00	Steel, commercial and industrial activities and equity interests
CSN Mining Portugal, Unipessoal Lda.		78.24	87.52	Commercial and representation of products
Companhia Siderúrgica Nacional, LLC		100.00	100.00	Import and distribution/resale of products
CSN Cimentos S.A. ⁽³⁾		-	10.00	Manufacturing and sale of cement
Direct interest in joint operations: proportionate consolidation
Itá Energética S.A.	253,606,846	48.75	48.75	Electric power generation
Consórcio da Usina Hidrelétrica de Igarapava		17.92	17.92	Electric power consortium

Direct interest in joint ventures: equity method
MRS Logística S.A. ⁽⁴⁾	63,377,198	18.64	18.64	Railroad transportation
Aceros Del Orinoco S.A.		31.82	31.82	Dormant company
Transnordestina Logística S.A. ⁽⁵⁾	24,670,093	47.26	47.26	Railroad logistics
Equimac S.A	1,117	50.00	50.00	Rental of commercial and industrial machinery and equipment

Indirect interest in joint ventures: equity method
MRS Logística S.A. ⁽⁴⁾		14.58	16.30	Railroad transportation

Direct interest in associates: equity method
Arvedi Metalfer do Brasil S.A.	49,074,882	20.00	20.00	Metallurgy and Equity interests

Exclusive funds: full consolidation
Diplic II - Fundo de investimento multimercado crédito privado		100.00	100.00	Investment fund
Caixa Vértice - Fundo de investimento multimercado crédito privado		100.00	100.00	Investment fund
VR1 - Fundo de investimento multimercado crédito privado		100.00	100.00	Investment fund

	03/31/2021				03/31/2020
Companies	Participation in				Participation in
	Assets	Liabilities	Shareholders’ equity	Profit /(Loss) for the period	Assets	Liabilities	Shareholders’ equity	Profit /(Loss) for the period



Investments under the equity method
Subsidiaries
CSN Islands VII Corp.	531,764	3,289,139	(2,757,375)	(258,952)	481,327	2,979,749	(2,498,422)	(574,487)
CSN Inova Ventures	9,591,849	10,519,332	(927,483)	(217,757)	9,534,299	10,244,025	(709,726)	(143,621)
CSN Islands XII Corp.	2,637,854	5,705,057	(3,067,203)	(360,600)	2,497,173	5,203,776	(2,706,603)	(617,535)
CSN Steel S.L.U.	4,847,452	25,551	4,821,901	241,834	4,522,589	28,642	4,493,947	452,147
Sepetiba Tecon S.A.	748,723	444,770	303,953	4,461	731,294	431,801	299,493	2,823
Minérios Nacional S.A.	352,364	163,139	189,225	48,955	292,708	152,438	140,270	3,268
Valor Justo - Minérios Nacional S.A.	-	-	2,123,507	-	-	-	2,123,507	-
Estanho de Rondônia S.A.	103,888	138,146	(34,258)	(6,147)	103,484	131,596	(28,112)	(6,620)
Companhia Metalúrgica Prada	817,938	621,588	196,350	49,874	750,130	603,654	146,476	(14,630)
CSN Mineração S.A.	17,053,347	6,690,346	10,363,001	1,896,260	17,166,329	7,887,964	9,278,992	351,181
CSN Energia S.A.	118,641	72,004	46,637	(286)	130,642	83,718	46,924	202
FTL - Ferrovia Transnordestina Logística S.A.	467,350	254,292	213,058	(15,215)	471,952	254,510	217,442	(13,272)
Companhia Florestal do Brasil	51,872	3,106	48,766	(781)	52,073	2,526	49,547	(384)
Nordeste Logística S.A.	69	59	10	(4)	69	55	14	(4)
CBSI - Companhia Brasileira de Serviços de Infraestrutura	115,157	90,961	24,196	3,874	118,553	98,231	20,322	(2,778)
Ágio - CBSI - Companhia Brasileira de Serviços de Infraestrutura	-	-	15,225	-	-	-	15,225	-
CSN Cimentos S.A.	3,512,433	478,600	3,033,833	48,611	-	-	-	-
	40,950,701	28,496,090	14,593,343	1,434,127	36,852,622	28,102,685	10,889,296	(563,710)
Joint-venture and Joint-operation
Itá Energética S.A.	280,203	21,474	258,729	7,647	268,447	17,365	251,082	2,905
MRS Logística S.A.	1,974,636	1,156,665	817,971	14,072	2,088,151	1,284,265	803,886	(17,061)
Transnordestina Logística S.A.	4,717,847	3,562,305	1,155,542	(4,562)	4,657,691	3,497,587	1,160,104	(6,334)
Fair Value (*) - Transnordestina	-	-	271,116	-	-	-	271,116	-
Equimac S.A	7,553	413	7,140	(96)	7,536	301	7,235	-
	6,980,239	4,740,857	2,510,498	17,061	7,021,825	4,799,518	2,493,423	(20,490)
Associates
Arvedi Metalfer do Brasil S.A.	40,088	32,160	7,928	(110)	40,528	32,490	8,038	(712)
	40,088	32,160	7,928	(110)	40,528	32,490	8,038	(712)
Classified at fair value through profit or loss (note 14 II)
Panatlântica			90,883				59,879
			90,883				59,879
Other investments
Profits on subsidiaries' inventories			(116,714)	(61,171)			(55,543)	(5,588)
Investment property			144,398	-			144,999	-
Others			63,536	(4)			63,538	(190)
			91,220	(61,175)			152,994	(5,778)
Total investments			17,293,872	1,389,903			13,603,630	(590,690)

Classification of investments in the balance sheet
Investments in assets			23,935,793				19,401,494
Investments with negative equity			(6,786,319)				(5,942,863)
Investment property			144,398				144,999
			17,293,872				13,603,630

	12/31/2020	01/31/2021
Assets	appraisal reports	Close balance
Trade receivables	37,171	54,684
Inventories	134,309	164,460
Other assets	29,186	30,228
Property, plant and equipment	3,151,349	3,129,161
Intangíible assets	8,086	8,086
Liabilities
Trade payables	(253,186)	(278,539)
Other payables current	(42,074)	(34,301)
Lease liabilities	(42,257)	(24,430)
Other provisions	(66,490)	(64,125)
Net assets	2,956,094	2,985,225

Parent Company Financial Statements / Statement of Changes in Equity - 01/01/2021 to 03/31/2021
(R$ thousand)

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	Opening balances	6,040,000	32,720	5,824,350	-	(1,983,619)	9,913,451
5.03	Adjusted opening balances	6,040,000	32,720	5,824,350	-	(1,983,619)	9,913,451
5.05	Total comprehensive income	-	-	-	5,240,015	(765,978)	4,474,037
5.05.01	Net income for the period	-	-	-	5,240,015	-	5,240,015
5.05.02	Other comprehensive income	-	-	-	-	(765,978)	(765,978)
5.05.02.04	Translation adjustments for the year	-	-	-	-	86,119	86,119
5.05.02.06	Actuarial gains/(losses) on pension plan, net of taxes	-	-	-	-	20	20
5.05.02.07	(Loss) / gain on the percentage change in investments	-	-	-	-	814,285	814,285
5.05.02.08	(Loss) / gain on cash flow hedge accounting	-	-	-	-	(1,666,402)	(1,666,402)
5.07	Closing balance	6,040,000	32,720	5,824,350	5,240,015	(2,749,597)	14,387,488

Parent Company Financial Statements / Statement of Changes in Equity - 01/01/2020 to 03/31/2020
(R$ thousand)

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	Opening balances	4,540,000	32,720	4,431,200	-	1,170,624	10,174,544
5.03	Adjusted opening balances	4,540,000	32,720	4,431,200	-	1,170,624	10,174,544
5.05	Total comprehensive income	-	-	-	(1,360,851)	(4,643,683)	(6,004,534)
5.05.01	Net income for the period	-	-	-	(1,360,851)	-	(1,360,851)
5.05.02	Other comprehensive income	-	-	-	-	(4,643,683)	(4,643,683)
5.05.02.04	Translation adjustments for the year	-	-	-	-	380,042	380,042
5.05.02.06	Actuarial gains/(losses) on pension plan, net of taxes	-	-	-	-	31	31
5.05.02.07	(Loss) / gain on cash flow hedge accounting, net of taxes	-	-	-	-	(5,025,225)	(5,025,225)
5.05.02.08	(Loss) / gain on hedge of net investment in foreign operations	-	-	-	-	1,469	1,469
5.07	Closing balance	4,540,000	32,720	4,431,200	(1,360,851)	(3,473,059)	4,170,010

Parent Company Financial Statements / Statement of Value Added
(R$ thousand)
Code	Description	Year to date 01/01/2021 to 03/31/2021	YTD previous year 01/01/2020 to 03/31/2020
7.01	Revenues	9,911,533	3,772,385
7.01.01	Sales of products and rendering of services	6,704,021	3,769,699
7.01.02	Other revenues	3,207,624	4,729
7.01.04	Allowance for (reversal of) doubtful debts	(112)	(2,043)
7.02	Raw materials acquired from third parties	(4,924,195)	(3,469,351)
7.02.01	Cost of sales and services	(3,794,821)	(2,878,256)
7.02.02	Materials, electric power, outsourcing and other	(1,094,613)	(585,281)
7.02.03	Impairment/recovery of assets	(34,761)	(5,814)
7.03	Gross value added	4,987,338	303,034
7.04	Retentions	(201,725)	(209,001)
7.04.01	Depreciation, amortization and depletion	(201,725)	(209,001)
7.05	Value added created	4,785,613	94,033
7.06	Value added received	2,017,352	(392,985)
7.06.01	Equity in results of affiliates companies	1,389,903	(590,690)
7.06.02	Financial income	579,338	53,376
7.06.03	Others	48,111	144,329
7.06.03.01	Others and exchange gains	48,111	144,329
7.07	Value added for distribution	6,802,965	(298,952)
7.08	Value added distributed	6,802,965	(298,952)
7.08.01	Personnel	290,648	335,379
7.08.01.01	Salaries and wages	217,406	249,708
7.08.01.02	Benefits	59,829	69,873
7.08.01.03	Severance payment (FGTS)	13,413	15,798
7.08.02	Taxes, fees and contributions	1,050,027	176,027
7.08.02.01	Federal	948,460	133,501
7.08.02.02	State	101,567	42,526
7.08.03	Remuneration on third-party capital	222,275	550,493
7.08.03.01	Interest	341,854	1,335,564
7.08.03.02	Rental	4,314	1,618
7.08.03.03	Others	(123,893)	(786,689)
7.08.03.03.01	Others and exchange losses	(123,893)	(786,689)
7.08.04	Remuneration on Shareholders' capital	5,240,015	(1,360,851)
7.08.04.03	Retained earnings (accumulated losses)	5,240,015	(1,360,851)

Gain on participation in the capital increase	1,054,613
Loss due to dilution of participation with issue of new shares	(231,044)
Equity adjustment by dilution of share percentage	(7,393)
Net gain from the transaction	816,176

Equity in the transaction		9,947,525
Number of share before initial public offering		5,430,057,060
Cost per share		R$ 1.83

Number of shares sold by CSN		377,804,907
Price per share		R$ 8.50

(+) Net cash generated in the transaction		3,211,342
(-) Transaction cost		(46,730)
(=) net cahs reveivable (a)		3,164,612
(-) Cost of shares (b)		(692,115)
(=) Net gain from the transaction (a)+(b)		2,472,497

	03/31/2021					12/31/2020
		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 (%)		33.22%	47.26%	50.00%	48.75%		34.94%	47.26%	50.00%	48.75%
Balance sheet
Current Assets
Cash and cash equivalents		951,179	905	1,088	79,431		1,206,484	1,390	1,351	48,919
Advances to suppliers		27,997	1,830		595		27,312	1,948		742
Other current assets		488,141	52,095	2,975	90,395		823,204	51,793	2,356	89,521
Total current assets		1,467,317	54,830	4,063	170,421		2,057,000	55,131	3,707	139,182
Noncurrent Assets
Other non-current assets		648,302	224,273		20,592		608,878	225,492		20,807
Investments, PP&E and intangible assets		8,478,265	9,703,392	11,043	383,763		8,537,009	9,574,588	11,365	390,672
Total non-current assets		9,126,567	9,927,665	11,043	404,355		9,145,887	9,800,080	11,365	411,479
Total Assets		10,593,884	9,982,495	15,106	574,776		11,202,887	9,855,211	15,072	550,661

Current Liabilities
Borrowings and financing		806,745	247,212				828,439	241,029
Lease liabilities		304,093					317,526
Other current liabilities		688,575	129,993	826	27,312		1,117,975	125,794	602	19,721
Total current liabilities		1,799,413	377,205	826	27,312		2,263,940	366,823	602	19,721
Noncurrent Liabilities
Borrowings and financing		1,951,084	6,494,594				2,162,657	6,368,070
Lease liabilities		1,649,300					1,674,594
Other non-current liabilities		805,690	665,683		16,738		788,862	665,653		15,900
Total non-current liabilities		4,406,074	7,160,277		16,738		4,626,113	7,033,723		15,900
Shareholders’ equity		4,388,397	2,445,013	14,280	530,726		4,312,834	2,454,665	14,470	515,040
Total liabilities and shareholders’ equity		10,593,884	9,982,495	15,106	574,776		11,202,887	9,855,211	15,072	550,661

	01/01/2021 a 03/31/2021					01/01/2020 a 03/31/2020
		Joint-Venture			Joint-Operation		Joint-Venture	Joint-Operation
Equity interest (%)		MRS Logística	Transnordestina Logística	Equimac S.A.	Itá Energética	MRS Logística	Transnordestina Logística	Itá Energética
Equity interest (%)		33.22%	47.26%	50.00%	48.75%	34.94%	47.26%	48.75%
Statements of Income
Net revenue		965,022	143	1,107	59,470	674,725		40,991
Cost of sales and services		(661,441)		(1,092)	(18,749)	(624,148)		(15,659)
Gross profit		303,581	143	15	40,721	50,577	-	25,332
Operating (expenses) income		(88,723)	(4,617)	(204)	(16,237)	(72,015)	(8,065)	(16,639)
Financial income (expenses), net		(97,514)	(5,178)	(1)	(699)	(111,614)	(5,337)	330
Income before income tax and social contribution		117,344	(9,652)	(190)	23,785	(133,052)	(13,402)	9,023
Current and deferred income tax and social contribution		(41,850)		(1)	(8,099)	41,521		(3,064)
Profit / (loss) for the period		75,494	(9,652)	(191)	15,686	(91,531)	(13,402)	5,959

	Consolidated			Parent Company
	Land	Buildings	Total	Land	Buildings	Total
Balance at December 31, 2020	97,610	62,264	159,874	94,431	50,568	144,999
Cost	97,610	86,548	184,158	94,431	74,260	168,691
Accumulated depreciation		(24,284)	(24,284)		(23,692)	(23,692)
Balance at December 31, 2020	97,610	62,264	159,874	94,431	50,568	144,999
Depreciation		(764)	(764)		(601)	(601)
Balance at March 31, 2021	97,610	61,500	159,110	94,431	49,967	144,398
Cost	97,610	86,548	184,158	94,431	74,261	168,692
Accumulated depreciation		(25,048)	(25,048)		(24,294)	(24,294)
Balance at March 31, 2021	97,610	61,500	159,110	94,431	49,967	144,398

	Consolidated
	Land	Buildings and Infrastructure	Machinery, equipment and facilities	Furniture and fixtures	Construction in progress	Right of use (i)	Other (*)	Total
Balance at December 31, 2020	257,686	2,677,565	12,457,383	26,297	3,680,322	516,668	100,302	19,716,223
Cost	257,686	4,752,412	26,213,225	182,974	3,680,322	634,786	414,705	36,136,110
Accumulated depreciation		(2,074,847)	(13,755,842)	(156,677)		(118,118)	(314,403)	(16,419,887)
Balance at December 31, 2020	257,686	2,677,565	12,457,383	26,297	3,680,322	516,668	100,302	19,716,223
Effect of foreign exchange differences	5,139	9,714	32,339	314	2,491	625	104	50,726
Acquisitions			52,019	621	357,359	55,549	151	465,699
Capitalized interest ⁽¹⁾ (notes 26 and 29)					15,133			15,133
Write-offs (note 25)			(31)		(2,286)	(38,017)	(130)	(40,464)
Depreciation (note 24)	(115)	(39,069)	(396,597)	(1,297)		(18,205)	(7,761)	(463,044)
Transfers to other asset categories	116	215	302,532	4	(310,626)		7,759
Right of use - Remesurement						6,816		6,816
Others			(18)		9,066		(205)	8,843
Balance at March 31, 2021	262,826	2,648,425	12,447,627	25,939	3,751,459	523,436	100,220	19,759,932
Cost	262,826	4,776,117	26,690,241	185,343	3,751,459	646,755	423,359	36,736,100
Accumulated depreciation		(2,127,692)	(14,242,614)	(159,404)		(123,319)	(323,139)	(16,976,168)
Balance at March 31, 2021	262,826	2,648,425	12,447,627	25,939	3,751,459	523,436	100,220	19,759,932

	Consolidated							Parent Company
	Goodwill	Customer relationships	Software	Trademarks and patents	Rights and licenses (*)	Others	Total		Software	Rights and licenses	Total
Balance at December 31, 2020	3,606,156	278,041	45,665	215,532	3,169,349	2,051	7,316,794		40,236	8,086	48,322
Cost	3,846,563	823,540	182,059	215,532	3,193,787	2,051	8,263,532		131,795	8,088	139,883
Accumulated amortization	(131,077)	(545,499)	(136,394)		(24,438)		(837,408)		(91,559)	(2)	(91,561)
Adjustment for accumulated recoverable value	(109,330)						(109,330)
Balance at December 31, 2020	3,606,156	278,041	45,665	215,532	3,169,349	2,051	7,316,794		40,236	8,086	48,322
Effect of foreign exchange differences		13,405	132	10,597		102	24,236
Acquisitions and expenditures			303				303
Drop down of Cements (note 10.c)										(8,086)	(8,086)
Amortization (note 24)		(17,651)	(2,606)				(20,257)		(1,949)		(1,949)
Balance at March 31, 2021	3,606,156	273,795	43,494	226,129	3,169,349	2,153	7,321,076		38,287		38,287
Cost	3,846,563	863,963	172,007	226,129	3,193,787	2,153	8,304,602		131,795		131,795
Accumulated amortization	(131,077)	(590,168)	(128,513)		(24,438)		(874,196)		(93,508)		(93,508)
Adjustment for accumulated recoverable value	(109,330)						(109,330)
Balance at March 31, 2021	3,606,156	273,795	43,494	226,129	3,169,349	2,153	7,321,076		38,287		38,287

	Consolidated
			03/31/2021
Nature	New debts	Repayment	Interest payment
Prepayment (1)		(1,942,732)	(47,188)
Bonds, Perpetual bonds, ACC, CCE and Facility	306,597	(447,140)	(526,432)
BNDES/FINAME, Debentures, NCE and CCB (2)	40,903	(1,263,286)	(65,425)
	347,500	(3,653,158)	(639,045)

Class of shares	03/31/2021				12/31/2020				03/31/2021	03/31/2020
Class of shares	Quantity	Equity interest (%)	Share price	Closing Balance	Quantity	Equity interest (%)	Share price	Closing Balance	Fair value adjustment recognized in profit or loss (note 25 and 26)
USIM3	107,156,651	15.19%	17.89	1,917,032	107,156,651	15.19%	15.69	1,681,288	235,744	(452,201)
USIM5	111,144,456	20.29%	17.10	1,900,571	111,144,456	20.29%	14.61	1,623,821	276,750	(510,153)
				3,817,603				3,305,109	512,494	(962,354)
PATI3	2,065,529	11.31%	44.00	90,883	2,065,529	11.31%	28.99	59,879	31,004	(207)
				3,908,486				3,364,988	543,498	(962,561)

	03/31/2021
Foreign Exchange Exposure	(Amounts in US$’000)	(Amounts in €’000)
Cash and cash equivalents overseas	1,047,363	2,810
Trade receivables	414,755	1,991
Financial investments	23,280	-
Iron ore derivative	2,110
Other assets	9,267	4,581
Total Assets	1,496,776	9,382
Borrowings and financing	(4,408,288)	-
Trade payables	(282,234)	(8,859)
Other liabilities	(7,328)	(1,114)
Total Liabilities	(4,697,850)	(9,973)
Foreign exchange exposure	(3,201,074)	(591)
Cash flow hedge accounting	3,762,450	-
Dollar - to - real NDF	(100,000)
Exchange rate swap CDI x Dollar	(67,000)	-
Net foreign exchange exposure	394,376	(591)

				03/31/2021
Currency	Exchange rate	Probable scenario	Scenario 1	Scenario 2
USD	5.6973	5.6445	7.1216	8.5460
EUR	6.6915	6.7158	8.3644	10.0373
USD x EUR	1.1725	1.1888	1.4656	1.7588

					03/31/2021
Instruments	Notional	Risk	Probable scenario (*) R$	Scenario 1 R$	Scenario 2 R$

Gross exchange position	(3,201,074)	Dollar	169,017	(4,559,370)	(9,118,739)

Cash flow hedge accounting	3,762,450	Dollar	(198,657)	5,358,952	10,717,903

Dollar - to - real NDF	(100,000)	Dollar	5,280	(142,433)	(284,865)

Exchange rate swap CDI x Dollar	(67,000)	Dollar	3,538	(95,430)	(190,860)

Net exchange position	394,376	Dollar	(20,822)	561,719	1,123,439

Net exchange position	(591)	Euro	(14)	(989)	(1,978)

Exchange rate swap Dollar x Euro	87,976	Dollar	2,542	(90,991)	(157,936)

			03/31/2021
Interest	Interest rate	Scenario 1	Scenario 2
CDI	2.65%	3.31%	3.98%
TJLP	4.39%	5.49%	6.59%
LIBOR	0.21%	0.26%	0.31%

						Consolidated
					Impact on profit or loss
Changes in interest rates	% p.a	Assets	Liabilities	Probable scenario (*)	Scenario 1	Scenario 2
CDI	2.65	7,477,707	(7,865,137)	(10,681)	(2,567)	(5,134)
TJLP	4.39		(843,873)	(2,055)	(9,262)	(18,524)
Libor	0.21		(2,952,056)	(37,720)	(1,515)	(3,030)

							Consolidated
							03/31/2021
				Appreciation (R$)		Fair value (market)	Impact on financial income (expenses) in 2021
Counterparties	Maturity	Functional Currency	Notional amount	Asset position	Liability position	Amounts receivable / (payable)	Impact on financial income (expenses) in 2021
Exchange rate swap Dollar x Real	06/01/2021	Dollar	(100,000)	583,340	(565,550)	17,790	6,758
Total dollar x real swap (NDF)			(100,000)	583,340	(565,550)	17,790	6,758

Exchange rate swap Dollar x Euro	04/26/2021 to 10/21/2021	Dollar	57,176	326,308	(320,671)	5,637	9,514
Exchange rate swap Dollar x Euro	05/04/2021 a 08/20/2021	Dollar	30,800	175,777	(171,988)	3,789	8,110
Total dollar-to-euro swap			87,976	502,085	(492,659)	9,426	17,624

Exchange rate swap CDI x Dollar	02/10/2023	Dollar	(67,000)	291,069	(410,375)	(119,306)	(27,444)
Total Swap CDI x dollar			(67,000)	291,069	(410,375)	(119,306)	(27,444)

				1,376,494	(1,468,584)	(92,090)	(3,062)

									03/31/2021
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$'000)
07/21/2015	Export prepayments in US$ to third parties	Part of the highly probable future monthly iron ore exports	Foreign exchange - R$ vs. US$ spot rate	July 2019 - March 2021	3.1813	60,000	(60,000)	(33,016)	-
07/23/2015	Export prepayments in US$ to third parties	Part of the highly probable future monthly iron ore exports	Foreign exchange - R$ vs. US$ spot rate	July 2019 - March 2021	3.285	100,000	(100,000)	(52,436)	-
07/23/2015	Export prepayments in US$ to third parties	Part of the highly probable future monthly iron ore exports	Foreign exchange - R$ vs. US$ spot rate	August 2018 - October 2022	3.285	30,000	(24,000)	-	(26,531)
07/24/2015	Export prepayments in US$ to third parties	Part of the highly probable future monthly iron ore exports	Foreign exchange - R$ vs. US$ spot rate	August 2018 - October 2022	3.3254	100,000	(100,000)	-	(78,764)
07/27/2015	Export prepayments in US$ to third parties	Part of the highly probable future monthly iron ore exports	Foreign exchange - R$ vs. US$ spot rate	August 2018 - October 2022	3.3557	25,000	(24,150)	-	(19,730)
07/27/2015	Export prepayments in US$ to third parties	Part of the highly probable future monthly iron ore exports	Foreign exchange - R$ vs. US$ spot rate	August 2018 - October 2022	3.3557	70,000	(56,000)	-	(59,925)
07/27/2015	Export prepayments in US$ to third parties	Part of the highly probable future monthly iron ore exports	Foreign exchange - R$ vs. US$ spot rate	August 2018 - October 2022	3.3557	30,000	(24,000)	-	(25,683)
07/28/2015	Export prepayments in US$ to third parties	Part of the highly probable future monthly iron ore exports	Foreign exchange - R$ vs. US$ spot rate	August 2018 - October 2022	3.3815	30,000	(24,000)	-	(25,373)
3/8/2015	Export prepayments in US$ to third parties	Part of the highly probable future monthly iron ore exports	Foreign exchange - R$ vs. US$ spot rate	July 2018 - October 2022	3.394	355,000	(343,000)	(108,874)	(50,446)
2/4/2018	Bonds	Part of the highly probable future monthly iron ore exports	Foreign exchange - R$ vs. US$ spot rate	July 2018 - February 2023	3.3104	1,170,045	(820,045)	-	(835,415)
07/31/2019	Bonds and Export prepayments in US$ to third parties	Part of the highly probable future monthly iron ore exports	Foreign exchange - R$ vs. US$ spot rate	January 2020 - April 2026	3.7649	1,342,761	(254,161)	(12,148)	(2,103,610)
10/1/2020	Bonds with no maturity date and Export prepayments in US$ to third parties	Part of the highly probable future monthly iron ore exports	Foreign exchange - R$ vs. US$ spot rate	March 2020 - December 2050	4.0745	1,416,000	(137,000)	(45,776)	(2,075,560)
01/28/2020	Bonds	Part of the highly probable future monthly iron ore exports	Foreign exchange - R$ vs. US$ spot rate	March 2017 - January 2028	4.2064	1,000,000	-	-	(1,490,900)
Total						5,728,806	(1,966,356)	(252,250)	(6,791,937)

	Consolidated and Parent Company
	12/31/2020	Movement	Realization	03/31/2021
Cash flow hedge accounting	5,125,058	1,919,129	(252,250)	6,791,937

					Consolidated
At March 31, 2021	Less than one year	From one to two years	From two to five years	Over five years	Total
Borrowings, financing and debentures (note 13)	3,647,805	12,031,018	5,010,599	13,551,927	34,241,349
Lease Liabilities (note 16)	95,287	151,478	115,200	178,531	540,496
Derivative financial instruments (note 14 I)			119,306		119,306
Trade payables (note 17)	6,156,294	197,547	27,522		6,381,363
Trade payables – Drawee risk (note 14 I)	1,469,209				1,469,209
Dividends and interest on equity (note 15)	901,982				901,982
Total	12,270,577	12,380,043	5,272,627	13,730,458	43,653,705

Thousands of reais	03/31/2021	12/31/2020
Shareholder's equity (equity)	17,275,336	11,251,505
Borrowings and Financing (Third-party capital)	34,139,190	35,270,653
Gross Debit/Shareholder's equity	1.98	3.13

	Consolidated
	Less than one year	Between one and five years	Over five years	Total
Leases	100,161	375,664	1,151,958	1,627,783
Present value adjustment - Leases	(4,874)	(108,986)	(973,427)	(1,087,287)
	95,287	266,678	178,531	540,496