Argentina , Mexico , Brazil and Venezuela
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ArcelorMittal boosts 2018 earnings

Bnamericas Published: Thursday, February 07, 2019
ArcelorMittal boosts 2018 earnings

Luxembourg-based steel giant ArcelorMittal reported net income of US$5.15bn for 2018, compared with US$4.57bn in 2017.

Sales rose to US$76.0bn from US$68.7bn, while Ebitda increased to US$10.3bn from US$8.418bn, the company reported in its latest earnings release on Thursday.

Steel shipments were down to 83.9Mt from 85.2Mt, while crude steel output dropped to 92.5Mt from 93.1Mt, the company said. Iron ore production rose 1.1Mt to 58.5Mt.

"With an established leadership position in many regions, ArcelorMittal targets specific growth opportunities to complement our existing global presence," said chairman and CEO Lakshmi Mittal (in photo).

"The acquisitions of [Brazil's] Votorantim and [Italy's] Ilva, both completed in 2018, provide us with enhanced leadership positions in key markets."

BRAZIL

ArcelorMittal Brasil reported operating income of US$1.36bn for last year, compared with US$697mn in 2017.

Sales rose to US$8.71bn from US$7.76bn and Ebitda was US$1.54bn, up from US$990mn, the company said.

Crude steel output increased to 12.3Mt from 11.2Mt, and shipments rose to 11.5Mt from 10.8Mt.

Brazil's apparent steel consumption is expected to grow 3.5-4.5% this year as growth in the automotive and machinery segment slows but construction activity grows for the first time since 2013, the company said.

In Latin America, ArcelorMittal – the world's largest steelmaker – also has operations in Mexico, Venezuela and Argentina.

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