ArcelorMittal Europe reports operating profit of €281 million for Q1 2015
07 May 2015 - 3:02PM
Luxembourg, 07 May 2015 -
ArcelorMittal Europe today announced its results for the first
quarter ended 31 March 2015. The segment recorded an operating
profit of €281m, compared with €58m for Q1 2014.
First quarter 2015 Ebitda increased by 23.3 per
cent, to €546m compared with €443m in the last quarter of 2014.
Ebitda in Q1 2015 was also 40 per cent higher than in the
corresponding quarter of 2014, reflecting improved demand dynamics
and the ongoing realisation of the benefits of cost optimisation
efforts.
Steel shipments in the first quarter increased by
10.9 per cent to 10.7 million tonnes, compared with Q4 2014, as
both flat and long product shipment volumes benefitted from
seasonal impacts and improved underlying demand.
Sales in the ArcelorMittal Europe segment
increased by 5.9 per cent to €7.6bn this quarter compared to Q4
2014. This was primarily due to higher steel shipments partly
offset by lower average steel selling prices.
Commenting, Aditya Mittal, CEO ArcelorMittal
Europe, said: "Ebitda improved again this quarter proving further
evidence that the actions taken to improve the competitive position
of our European operations were the right ones, and are delivering
results. It's important to note that we have achieved this in a
European market where demand remains significantly below pre-crisis
levels. Looking ahead, we expect to see continued pick-up in
European manufacturing activity to support our apparent steel
consumption growth forecast for Europe of around 2 per
cent this year, and are very well placed to capture our share
of improving demand."
Confidence has picked up in the European market
and is expected to slowly gain momentum. Factors such as
quantitative easing, the weak Euro, low oil prices and reduced
fiscal headwinds are expected to drive a recovery in growth for the
Eurozone in 2015 and 2016. In addition, manufacturing output for
the EU28 has reached its highest level since 2008.
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 2014, ArcelorMittal had
revenues of US$79.3 billion and crude steel production of 93.1
million tonnes, while own iron ore production reached 63.9 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 Investor
Relations |
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Europe |
+35247923198 |
Americas |
+13128993985 |
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SRI |
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Bonds/Credit |
+33171921026 |
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Contact information ArcelorMittal Corporate
Communications |
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E-mail: |
press@arcelormittal.com |
Phone: |
+442076297988 |
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ArcelorMittal Corporate
Communications |
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Paul Weigh (head of media relations) |
+442032142882 |
Laura Nutt
Isabelle Cornelis |
+442075431125
+442032142453 |
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United Kingdom |
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Maitland Consultancy |
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France |
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Image 7 |
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Sylvie Dumaine / Anne-Charlotte Creach |
+33153707470
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Apparent Steel Consumption
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
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