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TheStreet Open House

ArcelorMittal Reports Second Quarter 2012 And Half Year 2012 Results

Steel shipments for 2Q 2012 amounted to 3.3 million tonnes, marginally lower by 1.0% as compared to 3.4 million tonnes for 1Q 2012.

Sales in the AACIS segment were $2.7 billion for 2Q 2012, a decrease of 3.9% as compared to $2.8 billion for 1Q 2012, primarily due to marginally lower steel shipments and stable steel average selling prices in CIS and lower average steel selling prices in South Africa impacted by depreciation of South African rand and weaker domestic market.

EBITDA for 2Q 2012 was $120 million, 25.0% lower as compared to $160 million for 1Q 2012. Lower profitability was driven primarily from our South African operations with lower selling prices and volumes combined with higher cost, partially offset by improved profitability from CIS operations.

Distribution Solutions

(USDm) unless otherwise shown   2Q 12   1Q 12   2Q 11   1H 12   1H 11
Sales   $4,292   $4,431   $5,019   $8,723   $9,280
EBITDA   385   35   115   420   242
Operating income / (loss)   332   (10)   69   322   153
                     
Steel shipments (Mt)   4,523   4,589   4,594   9,112   8,796
Average steel selling price (US$/t)   920   919   1,040   920   1,008

Shipments in the Distribution Solutions segment for 2Q 2012 were 4.5 million tonnes, a decrease of 1.4% as compared to 4.6 million tonnes for 1Q 2012.

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