ArcelorMittal revises its outlook
events, features, international, top news, world July 28th, 2010ArcelorMittal blows hot and cold. The steelmaker displays uninviting outlook for the third quarter, but he nevertheless kept his goals in the second quarter.
ArcelorMittal plans a third quarter slowed, with lower operating performance. The group on a table and a gross operating surplus (EBITDA) of between 2.1 and 2.5 billion dollars. ArcelorMittal explains that the period will be marked "by a combination of seasonal factors and the effects of economic slowdown in China." The goal of a 10% increase in global demand in 2010, described by the group earlier this year, now seems difficult to achieve.On the other hand, the group's factories, which have operated in the second quarter to 78% of capacity against 80% expected in late April, are expected to slow to about 70%.
Long awaited on the subject, ArcelorMittal also said: "For the second half of the year, the challenge will be to pass all cost increases to our customers."
More encouragingly, the world's largest steelmaker has managed to keep its goals in the second quarter. The steelmaker has unveiled an operating surplus in line with expectations at $ 3 billion after an increase of 150% compared to last year. The net continues, as expected, grow, and was 1.7 billion dollars against a loss of 792 million last year. "The improved second-quarter performance is consistent with our expectations and reflects the continuation of the slow and gradual recovery," said Officer.
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Turnover was slightly below expectations at 21.65 billion dollars against 23.1 billion expected by the consensus of analysts.
Finally, ArcelorMittal said currently evaluating the possibility of creating a separate company (spin-off) of its stainless steel business. "We have confidence in the future of the stainless steel business and believe that creating a separate company will create further added value for all shareholders," said the group.
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