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ArcelorMittal reports 3.7bn dollar loss for 2012
06-02-2013 08:28
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ArcelorMittal reported a net loss of 3.7bn dollars for 2012, compared to the 2.3bn dollar profit registered in 2011. Earnings per share dropped to -2.41 dollars, from the prior 1.46 profit.
Sales also dropped 10% to $84.2bn due to the 8.2% drop in average sales prices and the 2.3% fall in orders.
The world's largest steelmaker registered a 30% rise in EBITDA (earnings before interest, taxes, depreciation and amortization) to $7.1bn.
The company does expect global steel consumption to grow by 3% this year thanks to accelerating growth in China and Brazil along with an improvement in Europe, where demand fell last year by 8.8% due to the weak economy.
Arcelor is currently trading up by 1.37% to €12.59.
LS
Sales also dropped 10% to $84.2bn due to the 8.2% drop in average sales prices and the 2.3% fall in orders.
The world's largest steelmaker registered a 30% rise in EBITDA (earnings before interest, taxes, depreciation and amortization) to $7.1bn.
The company does expect global steel consumption to grow by 3% this year thanks to accelerating growth in China and Brazil along with an improvement in Europe, where demand fell last year by 8.8% due to the weak economy.
Arcelor is currently trading up by 1.37% to €12.59.
LS
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