ArcelorMittal: EBITDA falls by less than expected
(CercleFinance.com) - ArcelorMittal has posted a Q3 2019 net loss of 539 million dollars, against a profit of 889 million dollars a year ago, with EBITDA that is down 61% at 1.
06 billion dollars, although above the consensus of 930 million dollars.
The steelmaker's sales fell 10% year-on-year to 16.6 billion dollars, for steel shipments of 20.2 million tonnes, down 1.5% from Q3 2018.
Lakshmi Mittal, ArcelorMittal Chairman and CEO, said, "As anticipated, we continued to face tough market conditions in the third quarter, characterized by low steel prices coupled with high raw material costs."
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