Largest steelmaking company of world ArcelorMittal said its net loss in the third quarter attributable to shareholders of the parent company amounted to 539 million US dollars, or 0.53 dollar per share.
the Luxembourg company Lakshmi Mittal, which produces about 5% of the world's steel, reported that its underlying profit (EBITDA) in the third quarter amounted to 1.06 billion dollars compared with an average analysts ' forecast of 930 million dollars.
ArcelorMittal Net loss in the third quarter amounted to 539 million US dollars, or 0.53 per US dollar per share compared to a net profit of 899 million U.S. or 0.88 dollar per share in the previous year. In the second quarter net loss of ArcelorMittal amounted to 447 million U.S. dollars.
sales of finished steel in the third quarter declined compared to the second quarter of 7.3% to 20.2 million tons. According to ArcelorMittal, it largely reflects the seasonality of the metal products trading.
"As expected, we continued to face tough market conditions in the third quarter, which are characterized by low steel prices in combination with high costs for raw materials. We remain focused on our initiatives to improve efficiency, and our priority is cost reduction, adaptation of production and ensure that the business remained positive in the cash flow," commented Mr. Lakshmi N. Mittal, Chairman and CEO of ArcelorMittal.
Key financial indicators (IFRS):
| USD, million | 3 kV 19 | 2 kV 19 | 3 kV 18 | 9M 19 | 9M 18 |
| Sales | 16634 | 19279 | 18522 | 55101 | 57706 |
| Operating income / (loss) | 297 | (158) | 1567 | 908 | 5497 |
| Net (loss) / income attributable to shareholders of the parent company | (539) | (447) | +899 | (572) | 3956 |
| basic (loss) / profit per ordinary share (us$. USA) | (0,53) | (0,44) | 0,89 | (0,56) | 3,89 |
| Operating profit / (loss) / tonne (us $ US $ / tonne) | 15 | (7) | 76 | 14 | 86 |
| EBITDA | 1063 | 1555 | 2729 | 4270 | 8314 |
| EBITDA / tonne (us $ US $ / tonne) | 53 | 68 | 133 | 66 | 131 |
| EBITDA just for steel / ton (us$. US $ / tonne) | 34 | 43 | 119 | 45 | 116 |
| crude steel Production (million Tonnes) | 22,2 | 23,8 | 23,3 | 70,1 | 69,8 |
| steel Shipments (MT) | 20,2 | 22,8 | +20,5 | 64,8 | 63,6 |
| Own iron ore production (million Tonnes) | 13,6 | 14,6 | 14,5 | 42,3 | 43,5 |
| Iron ore shipped at market price (MT) | 8,4 | 9,9 | 8,5 | +27,5 | 27,7 |
