Luxembourg, May 12, 2017 - ArcelorMittal (referred to as “ArcelorMittal” or the “Company”) (MT (New York, Amsterdam, Paris, Luxembourg), MTS (Madrid)), the world’s leading integrated steel and mining company, today announced results[1] for the three month period ended March 31, 2017.

Highlights:
Health and safety: LTIF rate of 0.80x in 1Q 2017 as compared to 0.84x in 4Q 2016 and 0.72x in 1Q 2016
Operating income increased to $1.6 billion in 1Q 2017 as compared to $0.8 billion in 4Q 2016
EBITDA of $2.2 billion in 1Q 2017, 34.3% higher as compared to $1.7 billion in 4Q 2016 primarily reflecting higher steel shipments (+5.1%) and higher seaborne iron ore prices (+21%)
Net income of $1.0 billion in 1Q 2017 as compared to $0.4 billion in 4Q 2016
Steel shipments of 21.1 Mt in 1Q 2017, up 5.1% vs. 4Q 2016 and down 1.9% vs. 1Q 2016 (down 0.9% on comparable basis[2])
1Q 2017 iron ore shipments of 13.4 Mt (+1.7% YoY), of which 8.7 Mt shipped at market prices (+11.2% YoY)
Due to seasonal working capital investment ($2.2 billion), net debt increased to $12.1 billion as of March 31, 2017, as compared to $11.1 billion as of December 31, 2016

Financial highlights (on the basis of IFRS[1]):
(USDm) unless otherwise shown
1Q 17 4Q 16 3Q 16 2Q 16 1Q 16

Sales 16,086 14,126 14,523 14,743 13,399
Operating income 1,576 809 1,204 1,873 275
Net income/(loss) attributable to equity holders of the parent 1,002 403 680 1,112 (416)
Basic earnings/(loss) per share (US$)[3] 0.33 0.13 0.22 0.38 (0.23)
Operating income/ tonne (US$/t) 75 40 59 85 13
EBITDA 2,231 1,661 1,897 1,770 927
EBITDA/ tonne (US$/t) 106 83 93 80 43
Steel-only EBITDA/ tonne (US$/t) 83 68 83 73 39
Crude steel production (Mt) 23.6 21.8 22.6 23.1 23.2
Steel shipments (Mt) 21.1 20.0 20.3 22.1 21.5
Own iron ore production (Mt) 14.0 13.9 13.7 13.5 14.1
Iron ore shipped at market price (Mt) 8.7 8.1 8.1 9.6 7.8

Commenting, Mr. Lakshmi N. Mittal, ArcelorMittal Chairman and CEO, said:

“ I am satisfied with the first quarter results, which reflect the anticipated positive momentum in the market and the progress we are making internally to make the business stronger. All parts of the business reported improved EBITDA as steel prices responded to higher raw material costs and strong volume growth saw steel shipments increase by 5.1% compared with the fourth quarter. Our mining segment benefitted from an increase in iron-ore shipped at market prices as well as the higher raw material price environment. Looking ahead, we expect market conditions to be broadly stable in the second quarter. While this is encouraging, the steel industry is still impacted by unfair imports in many of our key markets and we hope to see further progress in ensuring the necessary trade solutions”.

First quarter 2017 earnings analyst conference call

ArcelorMittal will hold a conference call hosted by Heads of Finance and Investor Relations for members of the investment community to discuss the three-month period ended March 31, 2017 on:


Date US Eastern time London CET

Friday May 12, 2017 9.30am 2.30pm 3.30pm
The dial in numbers are:
Location Toll free dial in numbers Local dial in numbers Participant
UK local: 0800 0515 931 +44 (0)203 364 5807 14206907#
USA local: 1 86 6719 2729 +1 24 0645 0345 14206907#
US (New York) 1 86 6719 2729 + 1 64 6663 7901 14206907#
France: 0800 914 780 +33 1 70 71 29 16 14206907#
Germany: 0800 965 6288 +49 692 7134 0801 14206907#
Spain: 90 099 4930 +34 911 143 436 14206907#
Luxembourg: 800 26908 +352 27 86 05 07 14206907#
A replay of the conference call will be available for one week by dialing:
Number Language Access code
+49 (0) 1805 2047 088 English 506022#

Forward-Looking Statements

This document may contain forward-looking information and statements about ArcelorMittal and its subsidiaries. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Forward-looking statements may be identified by the words “believe”, “expect”, “anticipate”, “target” or similar expressions. Although ArcelorMittal’s management believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of ArcelorMittal’s securities are cautioned that forward-looking etc. etc.
see more on
http://corporate.arcelormittal.com/news-and-media/press-releases/2017/may/12-05-2017


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