ArcelorMittal Flat Carbon Europe reports €366m operating loss for Q4 2013
ArcelorMittal today announced results for its Flat Carbon Europe segment for the fourth quarter of 2013.
We are seeing the positive effects of asset optimisation and an improved operational performance across FCE mills in 2013 results. With a recovery in underlying steel demand and mild restocking, we expect to see European steel demand rise by around 2% in 2014
The segment recorded an operating loss of €366m for Q4 2013. Operating performance in the fourth quarter was impacted by net restructuring charges of €236m, primarily as a result of the industrial and social plan in Liege and review of Florange primary production.
Q4 2013 losses compare with an operating loss of €131m in Q3 2013.
This segment’s crude steel production remained flat, compared to Q3 2013, at 7.4 million tonnes.
Steel shipments in Q4 2013 were 6.7 million tonnes, an increase of 1.6% as compared to the previous quarter, due to a mild pick- up in demand following the seasonally weak third quarter.
Sales in the Flat Carbon Europe segment also increased by 0.8% to €4.83bn, compared with €4.78bn in the third quarter. This was primarily due to higher steel shipment volumes.
Ebitda for the quarter increased by 11.6% to €163m, compared with €146m in the third quarter. This resulted mainly from a positive volume effect and excellent operational performance across FCE mills.
Commenting, Geert Van Poelvoorde, CEO Flat Carbon Europe, said:
“We are seeing the positive effects of asset optimisation and an improved operational performance across FCE mills in 2013 results. With a recovery in underlying steel demand and mild restocking, we expect to see European steel demand rise by around 2% in 2014.”
More information in the document below
Communiqués liés
Drees & Sommer lauréat du Vision Zero Award
Drees & Sommer, société leader dans le conseil et la réalisation de projets d...
PwC Luxembourg welcomes New Head of Human Resources, Delphin...
PwC Luxembourg is delighted to welcome its new Head of Human Resources, Delphine...
BESIX RED relève les défis de 2023 grâce à l’unité e...
Malgré les défis sans précédent auquel le marché immobilier a fait face tou...
ION-owned LIST connects FastTrade electronic trading system ...
LIST, an ION company, today announces that it has successfully completed the cer...
Nomination de Benoît Piccart en tant que Head of Corporate ...
Après plus de 30 années chez Baloise, Marc Folmer, Directeur de la Gouvernance...
Votre monde, votre langue, votre assurance : l'Intelligence ...
AXA Luxembourg lance une initiative invitant les habitants et futurs habitants d...
Il n'y a aucun résultat pour votre recherche