ArcelorMittal’s most recent quarterly results

en

ArcelorMittal (referred to as “ArcelorMittal” or the “Company”) (MT (New York, Amsterdam, Paris, Luxembourg), MTS (Madrid)), the world’s leading integrated steel and mining company, today announced results[1] for the three month and six month periods ended June 30, 2017.

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27/07/2017 |
  • ArcelorMittal - European statement

Highlights:

  • Health and safety: LTIF rate of 0.72x in 2Q 2017; 1H 2017 LTIF of 0.78x stable YoY
  • Operating income of $1.4 billion in 2Q 2017; 1H 2017 operating income of $3.0 billion, 38.1% higher YoY
  • EBITDA of $2.1 billion in 2Q 2017; 1H 2017 EBITDA of $4.3 billion, 61% higher YoY
  • Net income of $1.3 billion in 2Q 2017; 1H 2017 net income of $2.3 billion as compared to $696 million in 1H 2016
  • Steel shipments of 21.5 Mt in 2Q 2017, up 2% vs. 1Q 2017; 1H 2017 steel shipments of 42.5Mt, down 2.4% YoY. Steel shipments down 1.2% on a comparable basis
  • 2Q 2017 iron ore shipments of 15.2Mt (-0.9% YoY), of which 9.5 Mt shipped at market prices (-1.2% YoY); 1H 2017 market price iron ore shipments at 18.1Mt; up 4.3% YoY
  • Net debt decreased to $11.9 billion as of June 30, 2017, as compared to $12.1 billion as of March 31, 2017 due to positive free cash flow (+$0.6 billion) (despite investment in working capital) offset in part by foreign exchange losses (-$0.4 billion)

Commenting, Mr. Lakshmi N. Mittal, ArcelorMittal Chairman and CEO, said:

"We have materially improved our financial performance in the first half of 2017, and continue to make important progress on our Action 2020 plan. The recently announced acquisition of Ilva represents a unique opportunity to create value for our shareholders. Looking ahead demand remains strong in our core markets supporting robust order books and healthy levels of steel spreads. However, it remains a matter of concern that we are not able to capture the full benefits of this demand growth due to continued high levels of imports. We continue to work towards achieving a comprehensive trade solution in response to unfair imports."

More information concerning the quarterly results on: http://corporate.arcelormittal.com/investors/results

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