ArcelorMittal Europe reports €122m operating profit for Q4 2014
13 February 2015 - 5:03PM
Luxembourg, 13
February 2015
ArcelorMittal Europe today announced its results
for the fourth quarter ended 31 December 2014. The segment recorded
an operating profit of €122m compared with an operating loss of
€396m for Q4 2013.
ArcelorMittal Europe has reported an operating
profit in all four quarters of 2014, with the business realising
the benefits of its cost optimisation measures, lower input costs
and better margins due to improved steel market conditions and a
stronger focus on new and specialised products.
Fourth quarter 2014 Ebitda increased by 12.4%, to
€443m compared with €394m in the previous three months of the year.
Ebitda in Q4 2014 was also 46.7% higher than in the same quarter of
2013. Full year Ebitda for 2014 was €1730m compared to €1227m
for 2013.
Steel shipments in Q4 2014 were 9.6 million
tonnes; a decrease of 2.2% compared with the previous quarter, on
account of operational issues in some sites and lower exports for
the quarter. Year-on-year, shipments for the fourth quarter rose as
a result of improved domestic demand.
Sales in the ArcelorMittal Europe segment
decreased by 1.3% to €7.2bn this quarter, compared with €7.3bn in
the third quarter. This was primarily due to lower shipments.
Commenting, Aditya Mittal, CEO
ArcelorMittal Europe, said:
"I am pleased to be able to report the fourth
consecutive quarterly profit for ArcelorMittal Europe, as well as a
41% year-on-year increase in Ebitda. This Ebitda rise shows the
expansion in our steel margins thanks to lower costs, which are the
result of our cost optimisation efforts and improved market
conditions. For 2015, we are forecasting steel
demand growth of 1.5 to 2.5%, for Europe, with the effects of
a weak Euro and low oil prices helping to boost confidence within
the Eurozone".
There is likely to be a pickup in
European GDP in 2015 however political and economical uncertainties
in the region remain. The Eurozone economic recovery has struggled
to gain momentum, with the PMI index around 50 and deflation which
is likely to persist for much of 2015 given the oil price outlook.
However the European Central Bank's quantitative easing measures
are expected to improve confidence, to some extent offsetting
deflation in the Eurozone.
About
ArcelorMittal
ArcelorMittal is the world's
leading steel and mining company, with a presence in more than 60
countries and an industrial footprint in over 20 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 we use in our 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 2013, ArcelorMittal had
revenues of $79.4 billion and crude steel production of 91.2
million tonnes, while own iron ore production reached 58.4 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 |
+ 352 4792 3198 |
Americas |
+1 312 899 3985 |
Retail |
+ 352 4792 3198 |
SRI |
+ 44 207 543 1123 |
Bonds/Credit |
+ 33 171 92 10 26 |
|
|
|
|
Contact information ArcelorMittal Corporate
Communications |
|
E-mail: |
press@arcelormittal.com |
Phone: |
+44 20 7629 7988 |
|
|
|
|
ArcelorMittal Corporate
Communications |
|
|
|
Sophie Evans (head of media relations) |
+44 20 3214 2882 |
Laura Nutt
Isabelle Cornelis |
+44 20 7543 1125
+44 20 3214 2453 |
|
|
United Kingdom |
|
Maitland Consultancy: |
|
Martin Leeburn |
+ 44 20 7379 5151 |
|
|
France |
|
Image 7 |
|
Sylvie Dumaine / Anne-Charlotte Creach |
+ 33 1 5370 7470
|
ArcelorMittal Europe Q4 2014
graph
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: ArcelorMittal S.A. via Globenewswire
HUG#1894318
ArcelorMittal (EU:MT)
Historical Stock Chart
From Jun 2024 to Jul 2024
ArcelorMittal (EU:MT)
Historical Stock Chart
From Jul 2023 to Jul 2024