ArcelorMittal Europe reports ?371m operating profit for Q3 2016
(Thomson Reuters ONE) -
ArcelorMittal S.A. /
ArcelorMittal Europe reports ?371m operating profit for Q3 2016
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8 November 2016
ArcelorMittal Europe has reported its third quarter 2016 results, with a ?371m
operating profit for the three months to 30 September 2016 - higher than the
?340m operating profit reported in the second quarter of 2016.
Year-on-year, operating profit has risen significantly, albeit from a very low
base; ArcelorMittal Europe reported an operating loss of ?23m in the third
quarter of 2015, when European steel prices were under strong downward pressure
from record levels of imports.
A year-on-year Ebitda comparison shows a 29.4% rise to ?642m, compared with Q3
2015, primarily on account of lower costs and efficiency improvements, offset in
part by lower steel volumes (-2.7%) and lower average steel selling prices (-
3.3%).
In terms of steel production, ArcelorMittal Europe's crude steel production
decreased by 1.4% to 10.6 million tonnes in Q3 2016, compared with 10.7 million
tonnes in Q2 2016 as a result of seasonal planned stoppages.
Commenting on the results, Aditya Mittal, CEO of ArcelorMittal Europe, said:
"Today's results from ArcelorMittal Europe reflect the usual seasonal slowdown
in production and shipments, but also the improved pricing environment and the
impact of measures to make the business more efficient. Operating profit has
improved 8.9% in the past three months and is also positive year-on-year.
We remain concerned about unfair trade. We have seen some positive trade case
rulings this year but a comprehensive solution is required across all product
categories, to prevent anti-competitive behaviour in the European market."
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/
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|Contact information ArcelorMittal Corporate |
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|ArcelorMittal Corporate Communications |
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|Sylvie Dumaine / Anne-Charlotte Creach +33153707470 |
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Source: ArcelorMittal S.A. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 08.11.2016 - 07:01 Uhr
Sprache: Deutsch
News-ID 505477
Anzahl Zeichen: 8891
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Town:
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Kategorie:
Business News
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