ArcelorMittal : La guidance d’EBITDA du T2 2020 sera atteinte. Une sortie de crise poussive nous contraint à réduire nos attentes d’EBITDA pour 2020-21e
>Un T2 2020 très difficile… comme prévu - Les livraisons du T2 2020 devraient se situer entre 13,5 mt -14,5 mt selon le management (ODDO-BHF : 13.9 mt vs 19,5 mt au T1), soit -25% à -30% en séquentiel. Nous anticipons une baisse plus prononcée des livraisons des divisions Europe et NAFTA (forte exposition à l’automobile). Les coûts fixes devraient avoir baissé dans les mêmes proportions que les livraisons (-25% à 30% vs T1) d’où un coût fixe par tonne relativement sta...ArcelorMittal is a steel company, based in Luxembourg, with operations in more than 60 countries. Co. is active in all major global steel markets, including automotive, construction, household appliances and packaging, as well as activities in Research & Development and technology, with captive supplies of raw materials and its own distribution network. Co. has an industrial presence in over 20 countries spanning four continents, covering key steel markets, from emerging to mature. Co. offers a complete spectrum of steel products from commodity steel to value-added products, from long products to flat, from standard to specialty products, from carbon steel to stainless steel and alloys.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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