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Last $10.77 USD
Change Today +0.08 / 0.75%
Volume 4.6M
MT On Other Exchanges
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As of 8:04 PM 05/1/15 All times are local (Market data is delayed by at least 15 minutes).

arcelormittal-ny registered (MT) Key Developments

ArcelorMittal Sign USD 6,000,000,000 Revolving Credit Facility

On 30 April 2015, ArcelorMittal signed a USD 6,000,000,000 revolving credit facility (incorporating 3 and 5 year tranches). The facility will replace the USD 2,400,000,000 revolving credit facility agreement dated 6 May 2010 and the USD 3,600,000,000 revolving credit facility agreement dated 18 March 2011 and will be used for the general corporate purposes of the ArcelorMittal group. The facility gives ArcelorMittal improved terms over the former facilities, and extends the average maturity date by approximately two years. At the time of closing, both the new facility and the two revolving credit facilities that have been replaced were undrawn. ArcelorMittal received indications of interest far in excess of that which it sought, demonstrating confidence from the debt markets in ArcelorMittal.

ArcelorMittal Presents at BMO Capital Markets 24th Global Metals & Mining Conference 2015, Feb-22-2015

ArcelorMittal Presents at BMO Capital Markets 24th Global Metals & Mining Conference 2015, Feb-22-2015 . Venue: Westin Diplomat Resort, 3555 South Ocean Drive, Hollywood, Florida, United States.

ArcelorMittal Proposes Dividend for the Year 2014 Payable on 15 June 2015

ArcelorMittal's Board of Directors proposed to maintain the annual dividend payment at USD 0.20 per share for 2015. Subject to shareholder approval at the next annual general meeting on May 5, 2015, the payment of dividend will occur on 15 June 2015.

ArcelorMittal Reports Unaudited Consolidated Operating and Financial Results for the Fourth Quarter and Full Year Ended December 31, 2014; Announces Impairment Charges for the Fourth Quarter of 2014; Provides Financial Guidance for Fiscal 2015

ArcelorMittal reported unaudited consolidated operating and financial results for the fourth quarter and full year ended December 31, 2014. For the quarter, sales were $18,723 million against $19,848 million for the same period of last year. Loss before taxes and non-controlling interests was $682 million against $1,292 million for the same period of last year. Net loss attributable to equity holders of the parent was $955 million against $1,227 million for the same period of last year. Diluted loss per common share was $0.53 against profit of $0.01 million for the same period of last year. Net cash provided by operating activities was $2,292 million against $2,687 million for the same period of last year. Purchase of property, plant and equipment and intangibles was $1,067 million against $1,010 million for the same period of last year. Operating income was $569 million, versus a year-earlier loss of $36 million. Earnings before interest, taxes, depreciation and amortization were $1.82 billion, down from $1.91 billion a year earlier. The company announced net debt fell by $2 billion during the quarter to $15.8 billion. For the year, sales were $79,282 million against $79,440 million for the same period of last year. Loss before taxes and non-controlling interests was $520 million against $2,360 million for the same period of last year. Net loss attributable to equity holders of the parent was $1,086 million against $2,545 million for the same period of last year. Diluted loss per common share was $0.69 against $0.61 for the same period of last year. Net cash provided by operating activities was $3,870 million against $4,296 million for the same period of last year. Purchase of property, plant and equipment and intangibles was $3,665 million against $3,452 million for the same period of last year. Operating income was $3,034 million against $1,197 million a year ago. EBITDA was $7.2 billion, 8.5% higher than fiscal year 2013 on an underlying basis. Net debt lower at $15.8 billion as of December 31, 2014 as compared to $17.8 billion as of September 30, 2014 due largely to working capital release of $1.0 billion, asset disposal proceeds of $0.6 billion and forex impacts of $0.2 billion. The company expects Group EBITDA to be within the range of $6.5 billion to $7 billion for 2015. Additionally, the Company expects net interest expense to decline to approximately $1.4 billion and capital expenditure to decline to approximately $3.4 billion in 2015. As a result, at the bottom end of the guidance range the company would expect to be free cash flow positive. While net debt is expected to follow a normal seasonal pattern, overall progress towards the medium term net debt target of $15 billion is anticipated during the course of 2015. The company announced that impairment charges for the fourth quarter of 2014 of $264 million included $114 million primarily related to the idling of the steel shop and rolling facilities of Indiana Harbor Long carbon operations in the US (NAFTA); $63 million related to write-down of the Volcan ironore mine in Mexico (Mining); and $57 million related to the closure of mill C in Rodange, Luxembourg (Europe). For the quarter, the company's own iron ore production was 16.7 Mt against 15.8 Mt a year ago. Crude steel production was 23.2 Mt against 23.9 Mt a year ago. For the year, the company's own iron ore production was 63.9 Mt against 58 Mt a year ago. Crude steel production was 93.1 Mt against 91.2 Mt a year ago.

ArcelorMittal, Q4 2014 Earnings Call, Feb 13, 2015

ArcelorMittal, Q4 2014 Earnings Call, Feb 13, 2015

 

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