ArcelorMittal saw EBITDA for its Brazilian operations in Q3 surge 120.2 percent, year-on-year, to $445 million, the company said this week.
ArcelorMittal attributed the increased EBITDA to a positive price-cost effect due to improved market demand. The company’s EBITDA in Brazil was stable when compared to $443 million in Q2 this year.
The company said Brazilian operating income in Q3 was $374 million, up from $128 million in the same quarter of the year prior.
ArcelorMittal Brazil’s net revenues in Q3 was $2.1 billion, 2.1 percent up, year-on-year.
The company said steel sales volumes in Q3 totaled 3.09 million mt, 5.3 percent up, year-on-year, and 9.4 percent up, quarter-on-quarter, due to improved domestic demand.
The company’s Brazilian crude steel output in Q3 reached 3.15 million mt, stable when compared to 3.11 million mt in Q2 this year, but up from 2.79 million mt in Q3 2017.