ArcelorMittal increases profits

The increase in the company's profits is accompanied by a decrease in income. ArcelorMittal's profit rose in the first three quarters, taking into account the net loss in the same period last year.

Steel supplies in the first nine months of 2016 amounted to 63.9 million tons, which is 1.5 percent less than in the same period last year. This is mainly due to a drop in supplies in Brazil by 8.7 percent, in the NAFTA region by 2.7 percent and in Europe by 1.6 percent. However, the decline was partially offset by an 8.2 percent increase in the ACIS area.

EBITDA for the third quarter of 2016 is $ 1.9 billion, up 7.1 percent from $ 1.8 billion in the second quarter of 2016. In terms of year on year, EBITDA increased by 40.4 percent. Operating income for the third quarter of 2016 was $ 1.2 billion, up from $ 1.9 billion in the previous quarter.

“The company's third quarter results reflect the progress that has been made in efforts to improve business fundamentals, as well as favorable market conditions, compared to the situation at the beginning of the year. Despite the seasonal decline in steel shipments, EBITDA increased both quarter-on-quarter and year-on-year, ”writes Lakshmi Mittal, Chairman and CEO of ArcelorMittal.