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ArcelorMittal Q2 EBITDA jumped almost 100%

Staff Writer |
ArcelorMittal announced results for the three and six month periods ended June 30, 2016. EBITDA was $1.8 billion in Q2 2016, nearly double as compared to $0.9 billion in 1Q 2016; 26.5% higher YoY.




Operating income was $1.9 billion in Q2 2016 higher as compared to $0.3 billion in 1Q 2016, primarily as a result of one-time gain from employee benefits at ArcelorMittal USA ($0.8 billion) and higher sales driven by improved steel selling prices.

Net income was $1.1 billion in Q2 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 Q2 2015.

Steel shipments were 22.1Mt in Q2 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


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