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ArcelorMittal: net profit at highest level since 2008
08:40 11/11/2021
(CercleFinance.com) - ArcelorMittal has reported Q3 2021 net profit of 4.62 billion dollars, its highest level since 2008, compared to 4 billion dollars in Q2, with EBITDA up 19.9% sequentially to 6.06 billion dollars.
The steelmaker said that positive developments in steel spreads more than offset an 8.4% decline in steel shipments resulting from weaker demand, in addition to production constraints and delays in shipping orders.
'The outlook remains positive: underlying demand is expected to continue to improve; and, although marginally off the recent record highs, steel prices remain at elevated levels,' said CEO Aditya Mittal.
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