|
Article Excerpt
LUXEMBOURG -- Regulatory News:
ArcelorMittal (referred to as "ArcelorMittal", or the "Company") (MT (New York, Amsterdam, Brussels, Luxembourg, Paris) MTS (Madrid)), the world's leading steel company, today announced results for the three and nine month periods ended September 30, 2009.
Highlights for the three months ended September 30, 2009:
* Shipments of 18.2 million tonnes, up 7% as compared to Q2 2009
* EBITDA1 of $1.6 billion, up 30% as compared to Q2 2009
* Net income of $0.9 billion in Q3 2009
* Cash flow from operations of $2.4 billion in Q3 2009
* Dividend to be maintained at $0.75 per share for 2010
Industrial and financial plan targets achieved ahead of schedule:
* $2.2 billion of annualized sustainable cost reduction achieved as of Q3 2009
* Working capital rotation days target2 achieved, down to 83 days in Q3 2009 from 98 days in Q2 2009
* Net debt reduced to $21.6 billion, down by $10.9 billion over last twelve months
New initiatives:
* Selected growth projects reinitiated in some key emerging markets
* Financial policy adjusted with new gearing3 and Net debt/average EBITDA4 targets
* Strategic investment in 1 million tonne Indian re-roller Uttam Galva
* Successful debut 30-year bond issuance of $1.0 billion on October 1, 2009
Guidance for fourth quarter of 2009:
* EBITDA expected to be between $2.0 - $2.4 billion
Commenting, Mr. Lakshmi N. Mittal, Chairman and CEO, ArcelorMittal, said:
"As anticipated, we have seen the first signs of recovery in the third quarter. In response to this increased demand, a number of our facilities have now been re-started, and we expect fourth quarter crude steel capacity utilization to be approximately 70%. We should continue to see further gradual improvement through 2010, although the operating environment remains challenging."
Financial highlights (on the basis of IFRS(5), amounts in US$ and Euros(6 )):
(In millions of U.S. dollars except earnings per share and shipments data)
[TABLE OMITTED]
(In millions of Euros except earnings per share and shipments data)
[TABLE OMITTED]
THIRD QUARTER 2009 NEWS CONFERENCE (FOR MEDIA)
ArcelorMittal management will host a news conference:
Date: Wednesday, October 28,2009
Time: 5.30 am U.S. Eastern time / 9.30 am GMT / 10.30 am CET
The dial in numbers:
[TABLE OMITTED]
Access code for each language on the replay:
Language > Access code English > 069434 Spanish > 181439 French > 414790
The news conference will be available via a live video webcast on www.arcelormittal.com.
THIRD QUARTER 2009 EARNINGS ANALYST CONFERENCE CALL
Additionally, ArcelorMittal management will host a conference call for members of the investment community to discuss the third quarter 2009 financial performance at:
Date: Wednesday, October 28,2009
Time: 10.30 am U.S. Eastern time / 2.30 pm GMT / 3.30 pm CET
The conference call will include a brief question and answer session with senior management.
The dial in numbers:
[TABLE OMITTED]
A replay of the conference call will be available for one week by dialing (access code 634819#)
The presentation will be available via a live video webcast on www.arcelormittal.com
Forward-Looking Statements
This document may contain forward-looking information and statements about ArcelorMittal and its subsidiaries. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Forward-looking statements may be identified by the words "believe," "expect," "anticipate," "target" or similar expressions. Although ArcelorMittal's management believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of ArcelorMittal's securities are cautioned that forward-looking information and statements are subject to numerous risks and uncertainties, many of which are difficult to predict and generally beyond the control of ArcelorMittal, that could cause actual results and developments to differ materially and adversely from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in the filings with the Luxembourg Stock Market Authority for the Financial Markets (Commission de Surveillance du Secteur Financier) and the United States Securities and Exchange Commission (the "SEC") made or to be made by ArcelorMittal, including ArcelorMittal's Annual Report on Form 20-F for the year ended December 31, 2008 filed with the SEC. ArcelorMittal undertakes no obligation to publicly update its forward-looking statements, whether as a result of new information, future events, or otherwise.
About ArcelorMittal
ArcelorMittal is the world's leading steel company, with operations in more than 60 countries.
ArcelorMittal is the leader in all major global steel markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. With an industrial presence in over 20 countries spanning four continents, the Company covers all of the key steel markets, from emerging to mature.
Through its core values of sustainability, quality and leadership, ArcelorMittal commits to operating in a responsible way with respect to the health, safety and well-being of its employees, contractors and the communities...
|
