Arcelor Mittal, the world's largest steelmaker, has reported on May 16 a higher-than-expected first quarter net income of $2.25 billion.
The company, which accounts for roughly 10 percent of world steel production, said its first quarter sales reached $24.476 billion, up 17 percent against the pro forma figure for the first three months of 2006.
EBITDA for the first quarter was $4.3 billion - higher than expected due to accelerated synergy generation.
The steelmaker expects its EBITDA in the second quarter to be higher than in the first.