Re: Arcelor Mittal (MTS)
Highlights:
Health and safety: LTIF rate of 0.79x in 2Q 2016 as compared to 0.72x in 1Q 2016 and 0.68x in 2Q 2015
EBITDA of $1.8 billion in 2Q 2016, nearly double as compared to $0.9 billion in 1Q 2016; 26.5% higher YoY
Operating income of $1.9 billion in 2Q 2016 higher as compared to $0.3 billion in 1Q 2016, primarily as a result
of one-time gain from employee benefits at ArcelorMittal USA2
($0.8 billion) and higher sales driven by improved
steel selling prices
Net income of $1.1 billion in 2Q 2016 (including one-time $0.8 billion gain from employee benefits at
ArcelorMittal USA) as compared to a net loss of $0.4 billion in 1Q 2016 and net income of $0.2 billion in 2Q 2015
Steel shipments of 22.1Mt in 2Q 2016, an increase of 2.9% as compared to 1Q 2016; stable YoY
Gross debt decreased to $15.1 billion at June 30, 2016, as compared to $20.2 billion at March 31, 2016
Net debt decreased to $12.7 billion as of June 30, 2016, as compared to $17.3 billion at March 31, 2016 mainly
due to proceeds from the rights issue ($3.1 billion), asset sales ($1.1 billion), working capital release ($0.2 billion)
offset in part by $0.2 billion premium on early repayment of debt