ArcelorMittal : L’objectif d’une baisse concomitante des livraisons et des coûts est crédible. Les marges sauvegardées dans la crise. OC relevé à 15 € vs 11 €
>Une réduction des coûts au même rythme que celle des livraisons - Le management a, selon nous, rapidement répondu aux défis découlant de la pandémie de COVID-19. Il a pris des mesures en réduisant la production. Les livraisons devraient se situer entre 13,5 mt -14,5 mt au T2 2020 (contre 19,5 mt au T1, soit -25% à -30%). Le management s'attend à ce que les coûts fixes baissent dans les mêmes proportions que les livraisons (-25 à 30% en séquentiel) d’où un coût fixe p...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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