ArcelorMittal improves results

In the first half of 2017, ArcelorMittal reduced volume but increased revenues and profits. In addition, the company expects to improve performance later this year.

Steel shipments in the second quarter reached 21.5 million tonnes, an increase of 2 percent over the previous quarter. Deliveries in the first half of 2017 reached 42.5 million tonnes, a 2.4 percent decrease over the year.

Net income in the second quarter of 2017 was $ 1.3 billion. Net income in the first half was $ 2.3 billion, up from $ 696 million in the same period in 2016. Net debt as of June 30, 2017 was $ 11.9 billion, while on March 31 of this year it was $ 12.1 billion.

“In the first half of 2017, we significantly improved our financial results and made significant progress towards the implementation of the 2020 Action Plan. The recently announced acquisition of the ILVA steel mill is a unique opportunity to generate value for our shareholders, ”said Lakshmi Mittal, Chairman and CEO of ArcelorMittal.