ArcelorMittal : Set for a decent Q2 but market conditions getting tougher, target cut to € 35
>Set for a satisfactory Q2, in line with expectations - We expect Arcelor Mittal to report a satisfactory set of Q2 figures on 27 July, in line with expectations. We forecast EBITDA of $ 2.38bn in line with the Visible Alpha consensus ($ 2.4bn). EBITDA is thus set to be up 30% on Q1 ($ 1.82bn) despite the following headwinds: (i) impact of lower iron prices for Seaborne Iron Ore division, (ii) high comparison base with exceptional shipments of slabs to the Calvert JV...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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