ArcelorMittal 4Q Net Profit More Than Doubles
31 Janeiro 2018 - 4:51AM
Dow Jones News
By Alberto Delclaux
ArcelorMittal SA (MT.AE) said on Friday that net profit more
than doubled in the fourth quarter, on the back of strong sales
growth.
Quarterly net profit at the steelmaker rose to $1.04 billion
compared with $403 million a year earlier. Sales increased by 25%
on year to $17.71 billion, thanks to higher steel and iron-ore
shipments as well as higher average steel selling prices, the
company said.
Earnings before interest, tax, depreciation and amortization, or
Ebitda, stood at $2.14 billion for the quarter and at $8.41 billion
for the full year. This figure beats an analyst consensus provided
by the company of $8.32 billion.
"The market environment remains supportive but the industry must
continue to address the twin challenges of overcapacity and unfair
trade," said Chief Executive Lakshmi Mittal.
ArcelorMittal also said it expects the cash needs of the
business, excluding working capital investment, to increase to
about $5.6 billion in 2018.
Write to Alberto Delclaux at alberto.delclaux@dowjones.com
(END) Dow Jones Newswires
January 31, 2018 01:36 ET (06:36 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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