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In the first quarter, Arcelor Mittal reported steady growth

Jun. 12, 2018

Recently, Arcelor Mittal announced its performance in the first quarter of 2018.

In the first quarter of 2018, Arcelor Mittal’s operating income increased to US$1.6 billion, a steady year-on-year increase; EBITDA was US$2.5 billion, an increase from US$2.1 billion in the fourth quarter of 2017 17.3%, an increase of 12.6% from the first quarter of 2017; Net income of US$1.2 billion, while net income was US$1 billion in the fourth quarter of 2017 and the first quarter of 2017; and steel shipments were 21.3 million. Tons, an increase of 1.7% from the fourth quarter of 2017, an increase of 1.4% from the first quarter of 2017; iron ore shipments of 13.8 million tons (an increase of 3.6% year-on-year), of which 9.1 million tons were shipped at market prices (an increase of 5.5% over the same period).

As of March 31, 2018, Arcelor Mittal’s total debt was US$13.4 billion; net debt was US$11.1 billion, a year-on-year decrease of US$1 billion.

Lakshmi N. Mittal, Chairman and CEO of Arcelor Mittal, stated: “The continuous improvement of the global steel market is a good financial performance for Arcelor Mittal in the first quarter provided support.The combination of the growth in steel demand and supply reforms has contributed to the increase in global capacity utilization.In this context, we should continue to focus on structural improvements and implement the 2020 Action Strategy Plan, and focus its investment on projects that can bring higher returns. Currently, our acquisition of Ilva Italy has been approved by the European Commission and we hope to complete it by the end of the second quarter of 2018 in this acquisition."

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