ArcelorMittal , the world’s leading integrated steel and mining company, today announced results for the three month period ended March 31, 2014.
· Health and safety: LTIF rate of 0.85x in 1Q 2014 as compared to 0.93x in 1Q 2013
· EBITDA of $1.8 billion in 1Q 2014, a 23% improvement as compared to 1Q 2013 on an underlying basis; EBITDA/t increased in all steel segments with the exception of NAFTA which was negatively impacted by extreme weather
· Net loss of $0.2 billion in 1Q 2014 as compared to a net loss of $0.3 billion in 1Q 2013
· Steel shipments of 21.0Mt, an increase of 2.4% as compared to 1Q 2013
· 14.8 Mt own iron ore production as compared to 13.1 Mt in 1Q 2013; 9.3 Mt shipped and reported at market prices as compared to 7.3 Mt in 1Q 2013
· Net debt of $18.5 billion as of March 31, 2014 an increase of $2.4 billion during the quarter due to investment in working capital and other payables ($1.3 billion), the early redemption of perpetual securities ($0.7 billion), M&A ($0.2 billion) and foreign exchange ($0.1 billion)
· AM/NS Calvert: In partnership with Nippon Steel & Sumitomo Metal Corporation, the acquisition of ThyssenKrupp Steel USA, a steel processing plant in Calvert, Alabama, was completed on Feb 26, 2014 for a purchase price of $1.55 billion
· Mining: opportunity to stretch iron ore production capacity from current target of 84Mt by end 2015 to 95Mt has been identified, due to additional 5Mtpa potential at Liberia and additional 6Mtpa potential at ArcelorMittal Mines Canada
ArcelorMittal is the world’s leading steel and mining company, with a presence in more than 60 countries and an industrial footprint in over 20 countries. Guided by a philosophy to produce safe, sustainable steel, we are the leading supplier of quality steel in the major global steel markets including automotive, construction, household appliances and packaging, with world-class research and development and outstanding distribution networks.
Through our core values of sustainability, quality and leadership, we operate responsibly with respect to the health, safety and wellbeing of our employees, contractors and the communities in which we operate.
For us, steel is the fabric of life, as it is at the heart of the modern world from railways to cars and washing machines. We are actively researching and producing steel-based technologies and solutions that make many of the products and components we use in our everyday lives more energy-efficient.
We are one of the world’s largest producers of iron ore and metallurgical coal and our mining business is an essential part of our growth strategy. With a geographically diversified portfolio of iron ore and coal assets, we are strategically positioned to serve our network of steel plants and the external global market. While our steel operations are important customers, our supply to the external market is increasing as we grow.
In 2013, ArcelorMittal had revenues of $79.4 billion and crude steel production of 91.2 million tonnes, while own iron ore production reached 58.4 million tonnes.
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
Corporate responsibility and safety performance
Health and safety – Own personnel and contractors lost time injury frequency rate
Health and safety performance, based on own personnel figures and contractors lost time injury frequency (LTIF) rate, increased to 0.85x in the first quarter of 2014 (“1Q 2014”) as compared to 0.75x for the fourth quarter of 2013 (“4Q 2013”) and improved as compared to 0.93x for the first quarter of 2013 (“1Q 2013”). During 1Q 2014, significant improvement in the Mining segment performance relative to 4Q 2013, was partially offset by deterioration in the Brazil segment.
The Company’s effort to improve the group’s Health and Safety record continues. Whilst the LTIF target of 0.75x is maintained for 2014, the Company is focused on further reducing the rate of severe injuries and fatality prevention.