ArcelorMittal: quarterly EBITDA above expectations
(CercleFinance.com) - ArcelorMittal has posted a net loss of 1.
88 billion dollars for Q4 2019, against a profit of 1.19 billion dollars a year ago, with its EBITDA halved (-52%) to 925 million dollars, albeit higher than the consensus (858 million dollars).
The steelmaker's revenues of fell by over 15% y-o-y to around 15.5 billion dollars, for steel shipments of 19.7 million tonnes, down 2.5% from Q4 2018.
"There are signs that the real demand slowdown is beginning to stabilise, and the supportive inventory environment means that we expect apparent steel consumption in our core markets to grow in 2020;" said company boss, Lakshmi Mittal.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
88 billion dollars for Q4 2019, against a profit of 1.19 billion dollars a year ago, with its EBITDA halved (-52%) to 925 million dollars, albeit higher than the consensus (858 million dollars).
The steelmaker's revenues of fell by over 15% y-o-y to around 15.5 billion dollars, for steel shipments of 19.7 million tonnes, down 2.5% from Q4 2018.
"There are signs that the real demand slowdown is beginning to stabilise, and the supportive inventory environment means that we expect apparent steel consumption in our core markets to grow in 2020;" said company boss, Lakshmi Mittal.
Copyright (c) 2020 CercleFinance.com. All rights reserved.