reporting a net income in 2017 of $4.56 billion or $4.48 basic earning per
share, compared to $1.77 billion or $1.87 in 2016.
The company is also
reporting a net income 4Q 2017 of $1.03 billion or $1.02 basic earnings per
share, compared to a net income in the 3Q of $1.18 billion or $1.18 and a
net income in the year-ago period of $403 million or 40 cents.
“The combination of
improving market fundamentals and delivery against our strategic objectives
contributed to a successful year for the company,” Chair and CEO Lakshmi
Mittal said in a statement released on Wednesday. “Action 2020 has delivered
half of its targeted EBITDA gains and we have succeeded in transforming the
company’s balance sheet.”
“While we will
retain a de-leveraging bias, we are also investing selectively in
opportunities that will strengthen the foundations of sustainable value
creation,” Mittal added. “The market environment remains supportive but the
industry must continue to address the twin challenges of overcapacity and
are favorable,” ArcelorMittal said. “The demand environment remains positive
(as evidenced by the continued high readings from the ArcelorMittal weighted
Purchasing Managers Index) and steel spreads remain healthy.”
The company expects
the cash needs of the business in 2018 excluding capital investment--capital
expenditures, interest, cash taxes, pensions, and others--to increase to
approximately $5.6 billion.
The company also
expects its capital expenditures to increase in 2018 by around $1 billion,
to $3.8 billion, which chiefly reflects a project in Mexico and anticipated
expenditures on the ILVA facility in Italy.
* Sales of $68.67
billion ($56.79 billion in 2016).
* EBITDA (earnings
before interest, taxes, depreciation) of $8.4 billion ($6.25 billion).
* Operating income
of $5.43 billion ($4.16 billion).
* Shipments of 85.2
million metric tons (83.9 million).
* Crude steel
production of 93.1 million metric tons (90.8 million).
not release break-out numbers for its NAFTA sector (U.S. Flat, Long, and