Luxembourg-based steel producer ArcelorMittal has announced its financial results for the third quarter and the first nine months of the current year.
In the third quarter this year, ArcelorMittal recorded a net profit of $377 million, down from $1.79 billion in the second quarter, while its sales revenues declined by 1.7 percent from the second quarter to $15.66 billion, due to seasonally lower shipments. The producer posted its EBITDA in the third quarter at $1.51 billion, down from $1.86 billion recorded in the second quarter.
In the January-September period, the company registered a net profit of $2.97 billion, increasing by 72.1 percent year on year, while its sales revenues totaled $46.38 billion, down by 2.8 percent, both year on year. The company registered an EBITDA of $4.95 billion in the first nine months, compared to an EBITDA of $5.39 billion in the corresponding period of the previous year.
ArcelorMittal’s crude steel production decreased by 2.5 percent to 42.8 million mt in the first nine months, while its iron ore production increased by 19.8 percent to 35.7 million mt, both year on year. The company’s total steel shipments in the given period amounted to 41 million mt, up by 0.7 percent year on year.