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MTS - ArcelorMittal SA News Story

€25.21 0.8  3.1%

Last Trade - 16/04/21

Sector
Basic Materials
Size
Large Cap
Market Cap £23.62bn
Enterprise Value £29.90bn
Revenue £38.52bn
Position in Universe 12th / 729

ArcelorMittal beats estimates, sees signs of market recovery

Thu 30th July, 2020 6:26am
BRUSSELS, July 30 (Reuters) - ArcelorMittal  MT.AS  MT.LU ,
the world's largest steelmaker, reported higher than expected
second quarter earnings and said it core markets were showing
sign of recovery, albeit from exceptionally low levels.
    The Luxembourg-based company said on Thursday second-quarter
core profit (EBITDA), the figure most watched by the market, was
$707 million, less than half the year-ago figure but far higher
than the average forecast in a company poll of $482 million.
    ArcelorMittal said steel shipments should improve in the
third quarter from the second, when they declined by 23.7% from
the first three months of the year.
    Net debt fell to $7.8 billion at the end of June from $9.5
billion at the end of March. Because of the need to save costs,
the company said it would only resume dividend payments once
operating conditions normalise.

 (Reporting by Marine Strauss @StraussMarine; editing by Philip
Blenkinsop)
 ((Marine.Strauss@thomsonreuters.com; +32 2 287 6830; Reuters
Messaging: marine.strauss.thomsonreuters.com@reuters.net))
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