ArcelorMittal reports results for the first quarter 2017

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ArcelorMittal (referred to as “ArcelorMittal” or the “Company”) (MT (New York, Amsterdam, Paris, Luxembourg), MTS (Madrid)), the world’s leading integrated steel and mining company, today announced results[1] for the three month period ended March 31, 2017

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12/05/2017 |

Highlights:

Health and safety: LTIF rate of 0.80x in 1Q 2017 as compared to 0.84x in 4Q 2016 and 0.72x in 1Q 2016
Operating income increased to $1.6 billion in 1Q 2017 as compared to $0.8 billion in 4Q 2016
EBITDA of $2.2 billion in 1Q 2017, 34.3% higher as compared to $1.7 billion in 4Q 2016 primarily reflecting higher steel shipments (+5.1%) and higher seaborne iron ore prices (+21%)
Net income of $1.0 billion in 1Q 2017 as compared to $0.4 billion in 4Q 2016
Steel shipments of 21.1 Mt in 1Q 2017, up 5.1% vs. 4Q 2016 and down 1.9% vs. 1Q 2016 (down 0.9% on comparable basis)
1Q 2017 iron ore shipments of 13.4 Mt (+1.7% YoY), of which 8.7 Mt shipped at market prices (+11.2% YoY)
Due to seasonal working capital investment ($2.2 billion), net debt increased to $12.1 billion as of March 31, 2017, as compared to $11.1 billion as of December 31, 2016

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