ArcelorMittal: 9m EBITDA down 10%

(CercleFinance.com) - ArcelorMittal has reported 9m 2022 net income of 9 billion dollars, down from 10.
9 billion dollars a year earlier, with the group's EBITDA falling just over 10% to 12.9 billion dollars.

Seasonally lower shipments, reduced exceptional pricing levels, de-stocking and higher energy costs all put pressure on earnings in Q3, management said.

Q3 net profit reached 993 million dollars, short of the consensus of around 1.35 billion dollars, as previously announced by the group, while EBITDA came in at 2.66 billion dollars, above the analysts' forecast of 2.33 billion dollars.

For the first nine months of the year, the steel giant posted sales of nearly 63 billion dollars, up nearly 13%, despite steel shipments falling by over 8% to 43.3 million tonnes.



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