ArcelorMittal Q3 operating income $0.3bn
Operating income of $0.3bn in 3Q 2019 as compared to an operating loss of $0.2bn in 2Q 2019.
EBITDA of $1.1bn in 3Q 2019, 31.6% lower as compared to $1.6bn in 2Q 2019, primarily reflecting the impact of seasonally lower steel shipments and negative price-cost effect on the steel business, and the impact of lower marketable iron ore shipments (-14.7%) and lower iron ore quality premia on the mining segment results.
Net loss of $0.5bn in 3Q 2019 as compared to net loss of $0.4bn in 2Q 2019.
Steel shipments of 20.2Mt in 3Q 2019, 7.3% below 2Q 2019 on a comparable basis (i.e excluding scope effect of remedy assets) largely reflecting seasonality.
3Q 2019 iron ore shipments of 14.6Mt (+2.7% YoY), of which 8.4Mt shipped at market prices (-1.5% YoY).
Gross debt of $14.3bn as of September 30, 2019, as compared to $13.8bn as of June 30, 2019. Net debt increased by $0.5bn during the quarter to $10.7bn as of September 30, 2019, primarily driven by negative free cash flow due in part to a seasonal working capital investment ($0.2bn). ■