Chesterton Tribune

 

 

ArcelorMittal posts $2.5B net loss in 2013

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By KEVIN NEVERS

ArcelorMittal (AM) is reporting a net loss in 2013 of $2.545 billion or $1.46 per share, compared to a net loss in 2012 of $3.352 billion or $2.17.

AM is also reporting a net loss in the fourth quarter of $1.227 billion or 69 cents per share, compared to a net loss in the third quarter of $193 million or 12 cents and a net loss in the year-ago period of $3.808 billion or $2.47.

The full-year net loss of $2.545 billion includes around $1.5 billion in exceptional items, including impairment charges of $444 million, restructuring expense of $552 million, and an Amnesty program in Brazil costing $302 million.

The fourth-quarter net loss of $1.227 billion includes around $1.3 billion in exceptional items, including impairment charges of $304 million and restructuring expense of $379 million.

“The measures we have implemented to strengthen the business continue to yield positive results,” with the company ending the year carrying the “lowest level” of net debt since ArcelorMittal was created in 2006, AM Chair and CEO Lakshmi Mittal said in a statement released today.

“The improvement in the overall economic situation led us to re-start some selected steel growth products,” Mittal added. “In addition, we have expanded our ability to serve the growing NAFTA automotive and energy steel markets through our agreement to acquire ThyssenKrupp’s rolling mill in Calvert, Ala. We are cautiously optimistic about the outlook for 2014.”

2013 Numbers

* Sales of $79.44 billion ($84.213 billion in 2012).

* Shipments of 84.3 million metric tons (83.8 million in 2012).

* Crude steel production of 91.2 million metric tons (88.2 million in 2012).

* An operating income of $1.197 billion (an operating loss of $2.645 billion).

Flat Carbon Americas

* Operating income in 2013 of $852 million ($1.01 billion in 2012). An operating income of $270 million in the fourth quarter, compared to $321 million in the third quarter and $59 million in the year-ago.

* Sales in 2013 of $19.474 billion ($20.152 billion in 2012). Sales in the fourth quarter of $4.906 billion, compared to $4.921 billion in the third quarter and $4.683 billion in the year-ago.

* Average steel selling price in 2013 of $818 per ton ($854 in 2012). Average steel selling price in the fourth quarter of $819 per ton, compared to $804 in the third quarter and $797 in the year-ago.

* Operating income per ton in 2013 of $38 ($45 in 2012). Operating income per ton in the fourth quarter of $48, compared to $56 in the third quarter and $11 in the year-ago.

* Crude steel production in 2013 of 29.603 million tons (27.418 million in 2012). Crude steel production in the fourth quarter of 7.404 million tons, compared to 7.439 million in the third quarter and 6.375 million in the year-ago.

* Shipments in 2013 of 27.219 million tons (26.026 million in 2012). Shipments in the fourth quarter of 6.685 million tons, compared to 6.579 million in the third quarter and 5.957 million in the year-ago.

 

 

Posted 2/7/2014