Siderúrgica Venezolana Sivensa, S.A. announced consolidated earnings results for the third quarter ended December 31, 2016. For the quarter, operating loss was VEB 376,074,000 compared to VEB 96,460,000 a year ago. The rise of VEB 279.9 million is mainly due to the increase of the account "General and Administrative Expenses" in VEB 376.7 million. Loss before tax was VEB 609,618,000 compared to VEB 2,143,000 a year ago. Net loss of the quarter was VEB 609,435,000 compared to VEB 1,960,000 a year ago. This negative variation of VEB 607.7 million is mainly explained by the increase of the general and administration expenses as explained in the previous paragraph; the increase of VEB 880.3 million in the financial expenses of the year primarily denominated in US dollars; the increase of VEB 756.6 million in the financial income of the year mainly denominated in US dollars; the negative variation of VEB 69.5 million in the account "Exchange (loss) gain, net" concerning the one registered in 2016; all these variations are caused by the increase in the applicable rate of exchange (VEB per 1 USD) to translate into Bolivars the transactions and balances denominated in US Dollars, utilizing the exchange agreements in force during the quarters ended on December 31, 2016 and 2015, and the negative variation of VEB 134.6 million in the item "Gain from net monetary position" due to the absence of the inflation index during the quarter ended on December 31, 2016. Net loss attributable to shareholders was VEB 624,463,000 compared to income of VEB 6,247,000 a year ago. The company reported negative return over assets of 0.36% and negative return over equity of 0.59% compared to return over assets of 0.01% and return over equity of 0.02% a year ago.