ArcelorMittal Europe reports ?340m operating profit for Q2 2016
(Thomson Reuters ONE) -
ArcelorMittal S.A. /
ArcelorMittal Europe reports ?340m operating profit for Q2 2016
. Processed and transmitted by NASDAQ OMX Corporate Solutions.
The issuer is solely responsible for the content of this announcement.
29 July 2016
ArcelorMittal Europe has reported its second quarter 2016 results, with a ?340m
operating profit for the three months to 30 June 2016 - significantly higher
than the ?77m operating profit reported in the first quarter of 2016.
Year-on-year, Q2 operating profit in 2016 was slightly lower compared to ?352m
in Q2 2015. However, operating income in Q2 2016 was negatively impacted by an
impairment of ?44m relating to the sale of ArcelorMittal Zaragoza in Spain.
A year-on-year Ebitda comparison shows a 4.2% improvement to ?643m, principally
due to lower costs and efficiency improvements as a result of ArcelorMittal
Europe's ongoing transformation plan. This was offset in part by lower selling
prices, which were down by around 11%.
Commenting on the results, Aditya Mittal, CEO of ArcelorMittal Europe, said:
"Today's results from ArcelorMittal Europe show the combined effect of improved
market conditions compared with the beginning of the year, and our ongoing
transformation plan which is making the business more efficient. While we are
pleased with today's results, Europe remains exposed to the effects of steel
dumping. Although we have been encouraged by the high-level political engagement
on this matter in recent months, it remains important that this translates into
robust trade defence measures".
In terms of the outlook for European steel demand, real steel consumption is
expected to grow by 1.5-2% in 2016, while apparent steel consumption is forecast
to rise by only 1% due to destocking.
Ends
About ArcelorMittal
ArcelorMittal is the world's leading steel and mining company, with a presence
in 60 countries and an industrial footprint in 19 countries. Guided by a
philosophy to produce safe, sustainable steel, we are the leading supplier of
quality steel in the major global steel markets including automotive,
construction, household appliances and packaging, with world-class research and
development and outstanding distribution networks.
Through our core values of sustainability, quality and leadership, we operate
responsibly with respect to the health, safety and wellbeing of our employees,
contractors and the communities in which we operate.
For us, steel is the fabric of life, as it is at the heart of the modern world
from railways to cars and washing machines. We are actively researching and
producing steel-based technologies and solutions that make many of the products
and components people use in their everyday lives more energy efficient.
We are one of the world's five largest producers of iron ore and metallurgical
coal and our mining business is an essential part of our growth strategy. With a
geographically diversified portfolio of iron ore and coal assets, we are
strategically positioned to serve our network of steel plants and the external
global market. While our steel operations are important customers, our supply to
the external market is increasing as we grow.
In 2015, ArcelorMittal had revenues of US$63.6 billion and crude steel
production of 92.5 million tonnes, while own iron ore production reached 62.8
million tonnes.
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT),
Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona,
Bilbao, Madrid and Valencia (MTS).
For more information about ArcelorMittal please visit:
http://corporate.arcelormittal.com/
+------------------------------------------------------------------------------+
| |
| |
| |
|Contact information ArcelorMittal Investor Relations |
| |
| |
| |
|Europe +35247923198 |
| |
|Americas +13128993985 |
| |
|Retail +35247923198 |
| |
|SRI +442075431156 |
| |
|Bonds/Credit +33171921026 |
| |
| |
+------------------------------------------------------------------------------+
| |
| |
|Contact information ArcelorMittal Corporate |
|Communications |
| |
| |
|E-mail: press(at)arcelormittal.com|
| |
|Phone: +442076297988 |
| |
| |
+------------------------------------------------------------------------------+
| |
| |
|ArcelorMittal Corporate Communications |
| |
| |
| |
|Sophie Evans +442032142882 |
|Paul Weigh +442032142419 |
| |
| |
| |
| |
| |
|France |
| |
|Image 7 |
| |
|Sylvie Dumaine / Anne-Charlotte Creach +33153707470 |
| |
+------------------------------------------------------------------------------+
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: ArcelorMittal S.A. via GlobeNewswire
[HUG#2031744]
Unternehmensinformation / Kurzprofil:
Datum: 29.07.2016 - 07:01 Uhr
Sprache: Deutsch
News-ID 486231
Anzahl Zeichen: 9128
contact information:
Town:
London
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 274 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"ArcelorMittal Europe reports ?340m operating profit for Q2 2016"
steht unter der journalistisch-redaktionellen Verantwortung von
ArcelorMittal S.A. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
