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Securities and Exchange Commission Form 6-K 22/04/2019 siddf2018_6k.htm - Generated by SEC Publisher for SEC Filing 6-K 1 siddf2018_6k.htm FORM 6-K 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 April, 2019 Commission File Number 1-14732 COMPANHIA SIDERÚRGICA 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, 20º andar São 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____ https://www.sec.gov/Archives/edgar/data/1049659/000129281419001386/siddf2018_6k.htm 1/144 22/04/2019 siddf2018_6k.htm - Generated by SEC Publisher for SEC Filing (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) Annual Financial Statements – December 31, 2018 – CIA SIDERURGICA NACIONAL Version: 1 Table of Contents 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 01/01/2018 to 12/31/2018 8 01/01/2017 to 12/31/2017 9 Statement of Value Added 10 Consolidated Financial Statements Balance Sheet - Assets 11 Balance Sheet - Liabilities 12 Statement of Income 13 Statement of Comprehensive Income 14 Statement of Cash Flows 15 Statement of Changes in Shareholders’ Equity 01/01/2018 to 12/31/2018 18 01/01/2017 to 12/31/2017 19 Statement of Value Added 20 Management Report 21 Notes to the Financial Statement 32 Comments on the Performance of Business Projections 128 Reports and Statements Unqualified Independent Auditors’ Review Report 132 Opinion of the Supervisory Board or Equivalent Body 133 Opinion or Summary Report, if any, of the Audit Committee (statutory or otherwise) 134 Officers Statement on the Financial Staements 135 Officers Statement on Auditor’s Report 136 https://www.sec.gov/Archives/edgar/data/1049659/000129281419001386/siddf2018_6k.htm 2/144 22/04/2019 siddf2018_6k.htm - Generated by SEC Publisher for SEC Filing (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) Annual Financial Statements – December 31, 2018 – CIA SIDERURGICA NACIONAL Version: 1 Company Information / Capital Breakdown Number of Shares Current Quarter (Units) 12/31/2018 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 Page 1 https://www.sec.gov/Archives/edgar/data/1049659/000129281419001386/siddf2018_6k.htm 3/144 22/04/2019 siddf2018_6k.htm - Generated by SEC Publisher for SEC Filing (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) Annual Financial Statements – December 31, 2018 – CIA SIDERURGICA NACIONAL Version: 1 Parent Company Financial Statements / Balance Sheet - Assets (R$ thousand) Current Quarter First prior year Second prior year Code Description 12/31/2018 12/31/2017 12/31/2016 1 Total assets 42,515,849 42,365,935 0 1.01 Current assets 8,668,688 7,642,103 0 1.01.01 Cash and cash equivalents 539,853 393,504 0 1.01.02 Financial investments 882,997 716,461 0 1.01.02.03 Financial investments measured at amortized cost 882,997 716,461 0 1.01.03 Trade receivables 1,965,817 1,898,794 0 1.01.04 Inventories 3,662,466 2,951,352 0 1.01.08 Other current assets 1,617,555 1,681,992 0 1.01.08.03 Others 1,617,555 1,681,992 0 1.02 Non-current assets 33,847,161 34,723,832 0 1.02.01 Long-term receivables 4,002,570 2,267,226 0 1.02.01.10 Other non-current assets 4,002,570 2,267,226 0 1.02.02 Investments 20,232,005 22,894,885 0 1.02.03 Property, plant and equipment 9,562,973 9,502,411 0 1.02.04 Intangible assets 49,613 59,310 0 Page 2 https://www.sec.gov/Archives/edgar/data/1049659/000129281419001386/siddf2018_6k.htm 4/144 22/04/2019 siddf2018_6k.htm - Generated by SEC Publisher for SEC Filing (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) Annual Financial Statements – December 31, 2018 – CIA SIDERURGICA NACIONAL Version: 1 Parent Company Financial Statements / Balance Sheet – Liabilities (R$ thousand) Current Quarter First prior year Second prior year Code Description 12/31/2018 12/31/2017 12/31/2016 2 Total liabilities 42,515,849 42,365,935 0 2.01 Current liabilities 11,191,230 9,175,980 0 2.01.01 Payroll and related taxes 135,255 133,774 0 2.01.02 Trade payables 2,720,857 1,768,366 0 2.01.03 Tax payables 116,336 86,496 0 2.01.04 Borrowings and financing 6,474,388 6,578,171 0 2.01.05 Other payables 1,679,538 534,587 0 2.01.06 Provisions 64,856 74,586 0 2.01.06.01 Provision for tax, social security, labor and civil risks 64,856 74,586 0 2.02 Non-current liabilities 22,621,884 26,162,582 0 2.02.01 Long term Borrowings and financing 17,687,208 22,454,846 0 2.02.02 Other payables 24,024 57,599 0 2.02.03 Deferred taxes 17,434 570,559 0 2.02.04 Provisions 4,893,218 3,079,578 0 2.02.04.01 Provision for tax, social security, labor and civil risks 538,077 555,459 0 2.02.04.02 Other provisions 4,355,141 2,524,119 0 2.02.04.02.03 Provision for environmental liabilities and decommissioning of assets 191,884 248,918 0 2.02.04.02.04 Pension and healthcare plan 905,119 908,721 0 2.02.04.02.05 Provision for losses on investments 3,258,138 1,366,480 0 2.03 Consolidated Shareholders’ equity 8,702,735 7,027,373 0 2.03.01 Share Capital 4,540,000 4,540,000 0 2.03.02 Capital reserves 32,720 30 0 2.03.04 Profit reserves 3,064,827 0 0 2.03.04.01 Legal reserve 189,122 0 0 2.03.04.02 Earnings reserves 2,933,969 238,976 0 2.03.04.09 Treasury shares (58,264) (238,976) 0 2.03.05 Profits/losses acumulated 0 (1,291,689) 0 2.03.08 Other comprehensive income 1,065,188 3,779,032 0 Page 3 https://www.sec.gov/Archives/edgar/data/1049659/000129281419001386/siddf2018_6k.htm 5/144 22/04/2019 siddf2018_6k.htm - Generated by SEC Publisher for SEC Filing (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) Annual Financial Statements – December 31, 2018 – CIA SIDERURGICA NACIONAL Version: 1 Parent Company Financial Statements / Statements of Income (R$ thousand) Current Quarter First prior year Second prior year 01/01/2018 to 01/01/2017 to 01/01/2016 to Code Description 12/31/2018 12/31/2017 12/31/2016 3.01 Revenues from sale of goods and rendering of services 12,802,755 10,386,836 0 3.02 Costs from sale of goods and rendering of services (10,320,367) (8,542,284) 0 3.03 Gross profit 2,482,388 1,844,552 0 3.04 Operating expenses/income 3,190,822 378,027 0 3.04.01 Selling expenses (645,928) (680,386) 0 3.04.02 General and administrative expenses (241,887) (204,521) 0 3.04.04 Other operating income 4,126,906 799,874 0 3.04.05 Other operating expenses (864,901) (438,776) 0 3.04.06 Equity in income of affiliates and joint ventures 816,632 901,836 0 3.05 Profit before financial income (expenses) and taxes 5,673,210 2,222,579 0 3.06 Financial income (expenses) (897,645) (2,280,727) 0 3.06.01 Financial income 1.354.316 261,754 0 3.06.02 Financial expenses (2,251,961) (2,542,481) 0 3.06.02.01 Net exchange differences over financial instruments (560,494) (95,462) 0 3.06.02.02 Financial expenses (1,691,467) (2,447,019) 0 3.07 Profit (loss) before taxes 4,775,565 (58,148) 0 3.08 Income tax and social contribution 298,571 68,420 0 3.09 Profit (loss) from continued operations 5,074,136 10,272 0 3.11 Consolidated Profit (loss) for the year 5,074,136 10,272 0 3.99 Earnings per Share - (Reais / share) 3.99.01 Basic earnings per share 3.99.01.01 Common shares 3.69498 0.00757 0 3.99.02 Diluted earnings per share 3.99.02.01 Common shares 3.69498 0.00757 0 Page 4 https://www.sec.gov/Archives/edgar/data/1049659/000129281419001386/siddf2018_6k.htm 6/144 22/04/2019 siddf2018_6k.htm - Generated by SEC Publisher for SEC Filing (CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE) Annual Financial Statements – December 31, 2018 – CIA SIDERURGICA NACIONAL Version: 1 Parent Company Financial Statements / Statement of Comprehensive Income (R$ thousand) Current Quarter First prior year Second prior year 01/01/2018 to 01/01/2017 to 01/01/2016 to Code Description 12/31/2018 12/31/2017 12/31/2016 4.01 Consolidated profit for the year 5,074,136 10,272 0 4.02 Other comprehensive income (2,713,844) 822,573 0 4.02.01 Actuarial gains/(losses) over pension plan of affiliates (997) 2,168 0 4.02.02 Actuarial gains/(losses) on defined benefit pension plan 2,313 (206,275) 0 4.02.04 Cumulative translation adjustments for the year (87,101) 170,342 0 4.02.05 Fair value through other comprehensive income (1,559,680) 847,849 0 4.02.10 (Loss) / gain on change in percentage of investments (105) 2,814 0 4.02.11 Gain (loss) on cash flow hedge accounting (1,415,962) (50,987) 0 4.02.12 Realization of cash flow hedge accounting reclassified to income statement 370,191 92,140 0 4.02.13 Gain (Loss) on net investment hedge from investments in affiliates (21,852) (39,893) 0 4.02.14 Gain (Loss) on business combination (651) 4,415 0 4.03 Consolidated
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