5 November 2008
The title of the steel group has reported sales of 35.2 billion in the third quarter, up 38%.
The title of the steel group has reported sales of 35.2 billion in the third quarter, up 38%.The world's largest steel producer issued a turnover of 35.2 billion dollars, representing a net increase of 38% over the same period in 2007, but below market expectations. Ebitda margin appears to 8.6 billion dollars, which represents a jump of 76% compared with 2007. If Lakshmi Mittal, the leader of the group, spoke in a press release of quarterly results solid, it was not enough to convince the Paris Bourse since taking the title head of the largest declines in the CAC 40. At around 12.40 pm and the action ArcelorMittal traded at 20.60 euros, a net fall of 14.45%, especially as the group reduced its objectives of the fourth quarter.
Cuts forecast
Indeed, in terms of prospects, ArcelorMittal table on a gross operating surplus of between 2.5 billion and three billion, far less than the EBITDA margin generated in the third quarter. The mining group also reiterates its wish to move in a saving policy, and seeks "a reduction of $ 10 billion of its short-term debts," says the release.
Lakshmi Mittal said to be "optimistic on the outlook for industry growth over the medium term" but acknowledges that "it is appropriate to pause on the growth strategy of the group until the economic situation stabilizes. " Because of the economic slowdown, marked by a decline in demand, the world's largest steel producer wants to adjust its offer. The group has already begun reducing its production in late October.
French
by erectusplus at 14:54:00 |
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