ArcelorMittal Europe, Luxembourg

ArcelorMittal Europe reports operating profit of 352 million

ArcelorMittal Europe today announced its results for the second quarter ended 30 June 2015. The segment recorded an operating profit of €352 million, compared with €245 million for Q2 2014. Second quarter 2015 Ebitda increased by 22.7 %, to €617 million as compared to €503 million in the corresponding quarter of 2014, reflecting improved steel shipment volumes as well as the benefits of cost optimisation efforts. Steel shipments in the second quarter increased by 6.9 % to 10.9 million t, compared with Q2 2014, demonstrating the ongoing trend of improving European steel demand.

However, sales in the ArcelorMittal Europe segment remained stable at €7.7 billion this quarter compared to the corresponding quarter last year, with lower average steel selling prices (-4.1 %) being offset by higher steel shipments. The lower price environment reflects the continuing impact of imports, particularly from countries such as China and Russia.

Commenting, Aditya Mittal, CEO ArcelorMittal Europe, said: “I am pleased to be able to report another set of strong results for ArcelorMittal Europe. Our results reflect a combination of improved market fundamentals and the benefit of our asset and cost optimisation efforts. The outlook for Europe remains positive, with the economic recovery appearing to be broadening. We continue to forecast apparent steel consumption for Europe in 2015 to grow within a range of +1.5 to +2.5 %.”

ArcelorMittal Europe, Luxembourg