31 Jul '15, 5am

PRESS RELEASE: ArcelorMittal reports second quarter 2015 and half year 2015 results

“Despite continued pressure on both steel and iron-ore prices, we have delivered a consistent set of operating results compared with the first quarter. Europe continues to be a bright spot, with EBITDA again improving by 10.5% compared with the first quarter of 2015. Mining has also performed robustly against the backdrop of a lower iron-ore price, with ArcelorMittal Mines Canada reporting record shipment levels and improved costs. We remain concerned by the high level of imports. Whilst we are somewhat encouraged by recent actions on potential trade defence measures from both the US and Europe, we are also taking action to adapt our own business. More positively, even against such a challenging backdrop, we have delivered a small net income for the second quarter, reduced net debt year on year and we still expect to be cash flow positive for the year.”

Full article: http://corporate.arcelormittal.com/news-and-media/press-r...

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