3Q 2013 Results. Lakshmi N Mittal, Chairman and Chief Executive Officer Aditya Mittal, Chief Financial Officer. 7 November 2013

Size: px
Start display at page:

Download "3Q 2013 Results. Lakshmi N Mittal, Chairman and Chief Executive Officer Aditya Mittal, Chief Financial Officer. 7 November 2013"

Transcription

1 3Q 213 Results Lakshmi N Mittal, Chairman and Chief Executive Officer Aditya Mittal, Chief Financial Officer 7 November 213

2 Disclaimer Forward-Looking Statements This document may contain forward-looking information and statements about ArcelorMittal and its subsidiaries. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Forward-looking statements may be identified by the words believe, expect, anticipate, target or similar expressions. Although ArcelorMittal s management believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of ArcelorMittal s securities are cautioned that forward-looking information and statements are subject to numerous risks and uncertainties, many of which are difficult to predict and generally beyond the control of ArcelorMittal, that could cause actual results and developments to differ materially and adversely from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in the filings with the Luxembourg Stock Market Authority for the Financial Markets (Commission de Surveillance du Secteur Financier) and the United States Securities and Exchange Commission (the SEC ) made or to be made by ArcelorMittal, including ArcelorMittal s Annual Report on Form 2-F for the year ended December 31, 212 filed with the SEC. ArcelorMittal undertakes no obligation to publicly update its forward-looking statements, whether as a result of new information, future events, or otherwise. 1

3 Agenda Results overview and recent developments Market outlook Results analysis Outlook and guidance 2

4 Continued improvement in safety Quarterly Health & Safety frequency rate* for mining & steel Further safety improvement: LTIF rate improved to.8x in 3Q Target Leading the industry: Across the World Steel Association (WSA) members, 176 sites have a LTIF rate of <1;. 114 out of these sites belong to ArcelorMittal Q 2Q Health and safety performance improved with Lost Time Injury Frequency Rate of 1.x in 1Q 13. Improvements in performance in Flat Carbon Americas partially offset by deterioration in the Mining division. All other segment performance remained relatively constant quarter on quarter. 3Q 213 Sustainability remains a priority: ArcelorMittal maintained its membership in the Dow Jones Sustainability Index Europe Our goal is to be the safest Metals & Mining company * WSA: LTIF = Lost time injury frequency defined as Lost Time Injuries per 1.. worked hours; based on own personnel and contractors 3

5 3Q 213 highlights EBITDA 24% higher than underlying EBITDA in 3Q 12* Steel shipments increased 6% vs. 3Q 12 Own iron ore production 4.5% higher than 3Q 12 Iron ore shipped at market price 32% higher than 3Q 12 Net debt temporarily increased to $17.8bn at Sept 3, 213, inline with expectations $4bn reduction in gross debt since early June 213 leads to $62mn (13%) lower net interest expense in 3Q 13 vs. 2Q 13 $.8bn annualized management gains achieved during 9M 13 (USDm) unless otherwise shown 3Q 213 2Q 213 3Q 212 9M 213 9M 212 Iron ore shipments at market price (Mt) Steel Shipments (Mt) Sales 19,643 2,197 19,723 59,592 64,94 EBITDA 1,713 1,7 1,445 4,978 6,122 Net income / (loss) (193) (78) (652) (1,318) % improvement in underlying EBITDA 3Q 13 vs. 3Q 12 *Reported EBITDA in 3Q 212 of $1,445 million included the positive impact from $131 million for DDH income offset by a $72 million charge related to a one-time signing bonus and post retirement benefit costs following entry into a new labor contract in the U.S. As a result underlying EBITDA for 3Q 212 is $1,386 million. 4

6 Key recent developments South Africa: Resolution of Kumba dispute; new cost plus iron ore supply agreement secured New long-term agreement with Kumba to supply AMSA with 6.25mt of iron ore per annum Ensures competitively priced iron ore for AMSA and significant cost benefits relative to the interim supply arrangement in place since March 21 and the excessive costs at Thabazimbi All outstanding disputes between AMSA and Kumba now resolved AMSA will no longer have an economic interest in the high-cost Thabazimbi iron ore mine; while AMSA will take Thabazimbi production if it meets the required specifications, AMSA will however no longer face the risk associated with high costs and low volumes and general operational inefficiencies Annaba (Algeria): ownership diluted, paving the way for major capacity expansion Investment plan to more than double the plant s production capacity from 1mt to 2.2mtpa by 217 In return for the Group s ownership dilution (from 7% to 49%), the Government of Algeria offered various incentives, including low-cost local bank financing ArcelorMittal will continue to operate Annaba and will benefit from the capacity expansion through remaining 49% stake Selective steel investments restarted Projects restarted to support development of franchise steel businesses Capex discipline maintained: 214 overall capex expected to be similar to 213 levels Progress made on a series of initiatives during 3Q 213 5

7 Franchise steel development Dofasco (NAFTA auto) Restarted project to expand and upgrade galvanizing capacity by 215 New line #6 (66ktpy capacity) to serve growing NAFTA automotive market Older and smaller galvanizing line #2 (4ktpy capacity) will be closed Increased shipment of galvanized sheet (26ktpy), improved mix and cost Acindar (Argentina long products) Project to optimize and expand downstream capacity by 216 Installation of a new rolling mill with capacity of 4ktpy bars Improved productivity and lower costs Monlevade*/Juiz de Fora (Brazil long products) restart approved in 2Q 213; completion expected in 215 Expansion of downstream facilities with a new wire rod mill in Monlevade (additional capacity of 1,5ktpy of coils) Juiz de Fora rebar capacity increase from 5 to 4ktpy (replacing some wire rod production capacity) and meltshop capacity increase by 2ktpy Dofasco: #6 Galvanize Line foundations Dofasco: tension reel for new #6 line VAMA: S2 mill housing construction VAMA (China automotive steel JV) proceeding well Phase 1: capacity to supply 1.5mt for automotive applications in China State-of-the-art pickling tandem CRM, continuous annealing line and HDG Project is proceeding well; first coil now targeted in 2H 14 Restart of some steel investment in franchise businesses * Investment decision on Phase 2 of Monelvade project to focus on the upstream facilities (sinter plant, blast furnace and melt shop with additional crude steel capacity of 1.2mtpa) will be taken in the future 6

8 Mining growth plans on track AMMC: expansion to 24mt on track Ramp-up proceeding well 18.5mt production forecast in 213 vs. 15mt in mt production rate to be achieved by year-end 213 Unit costs benefiting from higher volumes Liberia: phase 1 shipments ahead of expectations in 213; phase 2 underway Phase 1: New production record in 3Q 13; 3.7mt shipped 9M 13 (+89% vs. 9M 12) Phase 2: Project underway for 15mtpa premium sinter feed to replace 4mtpa DSO by 215 All environmental permits for phase 2 received Major equipment procurement ongoing Civil works commenced at the mine and concentrator sites Baffinland: early revenue phase underway 3.5mtpa of DSO trucked to Milne Inlet for export during openwater season by 215 $7m project capex in 5:5 JV Summer season open-water sea lift of construction materials and fuel completed in Q3 ahead of plan AMMC: Port Cartier Liberia: Offshore transshipment Baffinland: construction camp On track to achieve 84mt own iron ore capacity in 215 7

9 Deleveraging remains a priority Net debt progression $billion ~ Q 11 4Q 12 1Q 13 2Q 13 3Q 13 Net debt/ltm EBITDA* 2.3x 2.8x 2.5x 2.6x 2.7x 4Q 13F Medium term target Year end FY13 net debt expected to be ~$17bn medium term target of $15bn Ratio of Net debt/ltm EBITDA is based on last twelve months reported EBITDA. Figures based on recast EBITDA as per new accounting standards adopted. Note: Net debt refers to long-term debt, plus short term debt, less cash and cash equivalents, restricted cash and short-term investments (including those held as part of asset/liabilities held for sale). At September 3, 213 cash included $42 million and debt included $22 million held at Annaba, which has since been classified as asset/liabilities held for sale. 8

10 Asset Optimization delivering Asset Optimization savings achieved ($ million) Residual Costs Run Rate-Savings Essential components have been announced: 4Q 211: Extended idling of EAF in Madrid; Restructuring costs at other Spanish, Czech Republic & AMDS operations 1Q 212: Extended idling of EAF & continuous caster at Schifflange; further optimization in Poland and Spain 2 4Q 11 1Q 12 2Q 12 3Q 12 4Q 12 1Q 13 2Q 13 Including residual costs, the targeted run-rate savings of $1bn has been exceeded Residual costs should disappear from the system by 214 Savings are tangible and apparent in improved reported results 3Q 13 4Q 212: Closure of 2 BF, sinter plant, steel shop and continuous casters in Liege, Belgium decided; long term idling of liquid phase at the Florange site 1Q 213: Announced intention to permanently close the coke plant & six finishing lines, in Liege; mothballing Florange 3Q 213: Industrial phase now complete and mothballing of facilities underway. Now proceeding to the social plan negotiations EBITDA showing clear benefits from Asset Optimization 9

11 Cost improvement underway New $3bn management gains program ($ billion) Annualized savings Gap Analysis for Cost Savings per Main Drivers Savings targets 9M 13 achieved 3. Others 28% 29% Yield F F Bottom up plan across the group F 2/3 variable cost and 1/3 fixed cost focussed Improvements in reliability, fuel rate, yield, productivity etc Business units plans rolled out and key personnel accountable for delivery Leveraging extensive benchmarking opportunities within the group Gap Analysis for Cost Savings by Process Cold rolling mill & HDG Hot strip mill Energy 21% 1% 2% Others 22% 11% Sinter & BF 25% 34% Productivity Steel shop Gap analysis completed in 212 defined the priorities for plan 1

12 Demand indicators have improved ArcelorMittal weighted global manufacturing PMI* Global apparent steel consumption (ASC) growth forecast in 213** (v 212) US -1.% to % EU27-1.5% to -2.5% China +6.5% to +7.5% Brazil +3% to +4% CIS +2.5% to +3.5% Global ~ +3.5% Global ASC expected to grow by ~ +3.5% in 213 Source: * Markit. Purchasing managers indices for over 4 countries weighted by share of ArcelorMittal finished steel deliveries. ** ArcelorMittal estimates 11

13 Financial results 12

14 EBITDA bridge from 2Q 13 to 3Q 13 ($million) Mining impact 1,7 Steel impact , Q 13 EBITDA Volume & Price / Cost Volume & Price / Cost Mix - Steel - Steel Mix - Mining - Mining Non-steel EBITDA Others* 3Q 13 EBITDA Improved mining results supported 3Q 13 EBITDA * Others primarily represents forex 13

15 EBITDA to net results ($ million) Depreciation: (1,135) Interest: (49) Impairment (11) Forex and other: (269) Weighted Avg No of shares: 1,788 EPS = $ (.12)/share Current tax: (11) 3Q 213 1,713 (1,236) 53 Deferred tax: 16 Non-controlling: (5) 477 (678) (148) (45) (193) ($ million) EBITDA Depreciation impairment and restructuring charges Operating Income Depreciation: (1,136) Impairment (39) Restructuring (173) Income from Equity Finance Cost Interest: (471) Forex and other: (53) Pre-tax loss Current tax: (149) Deferred tax: 5 Taxes and noncontrolling Interest Net Ioss Weighted Avg No of shares: 1,788 EPS = $ (.44)/share Non-controlling: (8) 2Q 213 1,7 (1,348) 352 (24) (1,1) (673) (78) (17) 3Q 13 net loss of $.2 billion 14

16 EBITDA to free cash flow 3Q 213 free cashflow waterfall ($ million) 1, Change in working capital -1, Capex Net financial cost, tax expense, and others* -86-1,254 EBITDA Cashflow from operations Free cashflow Working capital investment main driver of $1.2bn negative free cashflow * Includes pension expense, non cash items etc. 15

17 Net debt bridge 3Q 213 net debt analysis ($ million) +1, ,254 17,793 16,165 Net debt at 2Q 13 Free cashflow M&A* Dividends Forex & others Net debt at 3Q 13 Temporary increase in net debt due to working capital and dividend payout Net debt refers to long-term debt, plus short term debt, less cash and cash equivalents, restricted cash and short-term investments (including those held as part of asset/liabilities held for sale). At September 3, 213 cash included $42 million and debt included $22 million held at Annaba, which has since been classified as asset/liabilities held for sale. *M&A includes $216 million from ENOVOS disposal offset by the payment of the 5th instalment of the acquisition price of an additional 11% stake in Ostrava acquired in

18 Outlook and guidance framework In line with our guidance framework, underlying profitability is still expected to improve in 213, driven by three factors: a) a 1-2% increase in steel shipments; b) an approximate 2% increase in marketable iron ore shipments; and c) the benefits realized from Asset Optimization and Management Gains initiatives The Company still expects 213 EBITDA to be greater than $6.5 billion Due to improved operating cash flows and proceeds from already announced disposals, net debt is expected to decrease in 4Q 213 to approximately $17 billion; the $15 billion medium term net debt target is unchanged 213 capital expenditure is still expected to be approximately $3.7 billion The Company still expects FY 213 EBITDA to be greater than $6.5 billion 17

19 Appendix

20 Selective steel projects: Monlevade (LCA) Monlevade expansion project in Brazil restarted : Phase 1 (approved) focuses on downstream facilities and consists of: a new wire rod mill in Monlevade with additional capacity of 1,5ktpy of coils with capital expenditure of $28m with $14m remaining; Juiz de Fora rebar capacity increase from 5 to 4ktpy (replacing some wire rod production capacity) and meltshop capacity increase by 2ktpy Expected completion in 215 A decision whether to invest in Phase 2 of the project, focusing on the upstream facilities in Monlevade (sinter plant, blast furnace and meltshop), will be taken at a later date Expansion supported by strong market for long products in Brazil 19 19

21 Selective steel projects: Acindar (LCA) New rolling mill at Acindar (Argentina) New rolling mill (Huatian) in Santa Fe province to increase capacity by.4mt/year of rebars from 6 to 32mm for civil construction: New rolling mill will also enable Acindar to optimize production at its special bar quality (SBQ) rolling mill in Villa Constitución, which in future will only manufacture products for the automotive and mining industries Estimated capital expenditure of ~$1 million Expected completion in 216 Expansion supported by strong construction market in Argentina and exports 2 2

22 Selective steel projects: Dofasco (FCA) Optimize cost and increase shipment of galvanized products by.3mt / year Restart construction of heavy gauge galvanizing line #6 (capacity 66ktpy) and closure of line #2 (capacity 4ktpy) increased shipments of galvanized sheet by 26ktpy, along with improved mix and optimized cost Line #6 will incorporate AHSS capability and is the key element in a broader program to improve Dofasco s ability to serve customers in the automotive, construction, and industrial markets Expected completion in 215 Expansion supported by strong market for galvanized products 21 21

23 Selective steel projects: VAMA-JV with Hunan Valin VAMA: JV between ArcelorMittal and Hunan Valin which will produce steel for high-end applications in the automobile industry, supplying international automakers and first-tier Chinese car manufacturers as well as their supplier networks for rapidly growing Chinese market Construction of automotive facility, the main components which are: State of the art pickling tandem CRM (1.5mt) Continuous annealing line (.9mt), and Hot dip galvanizing line (.5mt) Estimated capital expenditure of ~$85 million (1% basis) First coil to be produced in 2H 214 Expansion supported by robust Chinese automotive market: > 5% growth to 25 million vehicles by

24 3Q 13 return to growth in world ex-china demand Global apparent steel consumption (ASC)* (million tonnes per month) US and European apparent steel consumption (ASC)** (million tonnes per month) Developing ex China China Developed EU27 USA 15 Jan-7 May-7 Sep-7 Jan-8 May-8 Sep-8 Jan-9 May-9 Sep-9 Jan-1 May-1 Sep-1 Jan-11 May-11 Sep-11 Jan-12 May-12 Sep-12 Jan-13 May-13 Sep-13 3 Jan-7 May-7 Sep-7 Jan-8 May-8 Sep-8 Jan-9 May-9 Sep-9 Jan-1 May-1 Sep-1 Jan-11 May-11 Sep-11 Jan-12 May-12 Sep-12 Jan-13 May-13 Sep-13 Global ASC -1.1% in 3Q 13 vs. 2Q 13 Global ASC +4.4% in 3Q 13 vs. 3Q 12 China ASC +.1% in 3Q 13 vs. 2Q 13 China ASC 7.7% in 3Q 13 vs. 3Q 12 US ASC +3.8% in 3Q 13 vs. 2Q 13 US ASC +4.6% in 3Q 13 vs. 3Q 12 EU ASC -9.5% in 3Q 13 vs. 2Q 13 EU ASC +1.4% in 3Q 13 vs. 3Q 12 Back to Y-o-Y growth in 3Q 13; growth expected to continue in 214 * ArcelorMittal estimates ** AISI, Eurofer and ArcelorMittal estimates 23

25 Global indicators have improved Global PMI indicates developed manufacturing growing above trend for the first time in two years ArcelorMittal weighted global manufacturing PMI* US manufacturing grew q-o-q in 3Q 13 and up over 2.5% y-o-y. October PMI remained >5 near recent highs despite the impact of US government shutdown In Europe, manufacturing output still down y-o-y but in 3m to August is up over 3% annualised from previous 3m Eurozone PMI above 5 for four consecutive months. Strong readings for Czech Republic, Poland and UK PMI confirm EU27 PMI at highest since 1H 11 Chinese industrial output growth has rebounded to 1.1% y-o-y in 3Q 13 the best quarter since 1Q 12 supported by strong auto and a pick-up in the PMI>5 Global indicators signal continued growth in developed markets in 4Q 13, and confirm a rebound of Chinese growth since the summer Source: *Markit. ArcelorMittal estimates 24

26 US construction improving; Europe stabilising Expansion US residential and non-residential construction indicators (SAAR) $bn* Jan-2 Jul-2 Jan-3 Jul-3 Jan-4 Jul-4 Jan-5 Jul-5 Jan-6 Jul-6 Jan-7 Jul-7 Jan-8 Jul-8 Jan-9 Jul-9 Jan-1 Jul-1 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Eurozone and US construction indicators** Residential Non-residential Eurozone construction PMI USA Architectural Billings Index USA non-residential beginning to pick-up US residential construction grows strongly, although growth rates beginning to slow (+2% y-o-y Jan-Aug 13). Home sales continue to improve, while permits stabilise Public non-residential output declining, but private slowly improving; Architectural Billings index (ABI) remains above 5 supporting expected pickup in 214 In Europe, construction still weak but no longer declining Eurozone construction PMI rebounded to almost 5 output still down y-o-y but up q-o-q German construction output is up y-o-y in 3Q 13, supported by strong labour market and increased purchasing activity Contraction Jan-6 Apr-6 Jul-6 Oct-6 Jan-7 Apr-7 Jul-7 Oct-7 Jan-8 Apr-8 Jul-8 Oct-8 Jan-9 Apr-9 Jul-9 Oct-9 Jan-1 Apr-1 Jul-1 Oct-1 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13 Construction in Poland & UK seeing a rebound but markets in the South continue to be remain weak. However, 1H 13 seems to be the bottom with output up slightly in July and August US residential construction improving, end to decline in Europe * Source: US Census Bureau ** Source: Markit and The American Institute of Architects 25

27 Chinese industrial growth improving China infrastructure investment 3mma* (Y-o-Y) 75% Industrial output has improved in the 3Q 13 up 1.1% y-o-y the best qtr since 1Q 12 6% 45% 3% 15% % The turnaround is underpinned by strong growth in public investment, with Infrastructure growing by over 26% y-o-y in 3Q 13. We expect growth to slow but not significantly until mid % Jan-7 May-7 Sep-7 Jan-8 May-8 Sep-8 Jan-9 May-9 Sep-9 Jan-1 May-1 Sep-1 Jan-11 May-11 Sep-11 Jan-12 May-12 Sep-12 Jan-13 May-13 Sep-13 Continued strong housing price rises and transactions have supported demand for constructional steel, as housing starts rebound, up over 17% y-o-y in 3Q 13. Crude steel finished production and inventory (mmt) Steel inventory at warehouses (RHS) Finished steel production (LHS) Steel inventory at mills (RHS) Jan-7 Apr-7 Jul-7 Oct-7 Jan-8 Apr-8 Jul-8 Oct-8 Jan-9 Apr-9 Jul-9 Oct-9 Jan-1 Apr-1 Jul-1 Oct-1 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul Flat products demand continues to be supported by robust growth in automotive production, up 13% y-o-y in 3Q 13 While steel production remained high in 3Q 13 (782mt annualized), steel inventory continued to fall as is seasonal. Inventories have stabilized through Sept/Oct and are now up y-o-y, supporting our expectation of a small q-o-q decline in steel production during Q3 13 Underlying demand robust in China, led by rebound in property market * Mma refer to months moving average 26

28 End to destocking in US and China in 3Q 13 German inventories ( MT)* 14, US service centre total steel Inventories ( MT) , 1, 8, 6, 4, 2, USA (MSCI) Months Supply ,4 1,3 1,2 1,1 1, Brazil service centre inventories ( MT) Flat stocks at service centres Months of supply (RHS) Jan-7 Apr-7 Jul-7 Oct-7 Jan-8 Apr-8 Jul-8 Oct-8 Jan-9 Apr-9 Jul-9 Oct-9 Jan-1 Apr-1 Jul-1 Oct-1 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul Jan-7 Apr-7 Jul-7 Oct-7 Jan-8 Apr-8 Jul-8 Oct-8 Jan-9 Apr-9 Jul-9 Oct-9 Jan-1 Apr-1 China service centre inventories (Mt/mth) with ASC% Flat and Long % of ASC (RHS) Jan-7 Apr-7 Jul-7 Oct-7 Jan-8 Apr-8 Jul-8 Oct-8 Jan-9 Apr-9 Jul-9 Oct-9 Jan-1 Apr-1 Jul-1 Oct-1 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13 Jul-1 Oct-1 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13 5% % 2. 5% 45% 4% 35% 3% 25% 2% 15% 1% End to Inventory drawdown in US and China during 3Q 13 * German inventory data available on quarterly basis since 27 27

29 Global apparent steel consumption China % +2% +6.5% to +7.5% EU % -9% -1.5% to -2.5% F F NAFTA % % -1% F Rest of World % % +2% F Estimated 213 ASC growth of ~ +3.5% ArcelorMittal estimates 28

30 Raw material prices remained stable Spot iron ore, coking coal and scrap price (index IH 28=1)* Regional steel price HRC ($/t) Spot Iron Ore Coaking Coal Scrap China domestic Shanghai (Inc 17% VAT) N.America FOB Midwest N.Europe domestic ex-works Jan 8 Apr 8 Jul 8 Oct 8 Jan 9 Apr 9 Jul 9 Oct 9 Jan 1 Apr 1 Jul 1 Oct 1 Jan 11 Apr 11 Jul 11 Oct 11 Jan 12 Apr 12 Jul 12 Oct 12 Jan 13 Apr 13 Jul 13 4 Jan 8 Apr 8 Jul 8 Oct 8 Jan 9 Apr 9 Jul 9 Oct 9 Jan 1 Apr 1 Jul 1 Oct 1 Jan 11 Apr 11 Jul 11 Oct 11 Jan 12 Apr 12 Jul 12 Oct 12 Jan 13 Apr 13 Jul 13 Raw material prices have started to rebound from end 2Q 13 lows 29

31 Segment highlights Segmental EBITDA* (US$mn) FCA 3Q 12 FCE 4Q 12 Long Segmental EBITDA/tonne (US$/t) 1Q 13 AACIS 2Q 13 AMDS 3Q 13 Mining FCA: EBITDA +67.8% y-o-y; $95 EBITDA/t ASP -$27/t compared to 2Q 13 Shipments +7.6% higher than 3Q 12 FCE: EBITDA +1.% y-o-y; $29 EBITDA/t ASP -27$/t compared to 2Q 13 Shipments +12.7% higher than 3Q 12 Long: EBITDA +36.2% y-o-y; $83 EBITDA/t ASP -28$/t compared to 2Q 13 Shipments +1.7% higher than 3Q 12 AACIS: EBITDA +45.8% y-o-y; $33 EBITDA/t 1 ASP -$2/t compared to 2Q 13 8 Shipments +.3% higher than 3Q 12 6 AMDS: 3Q 13 EBITDA $16m 4 ASP -$29/t compared to 2Q 13 2 Shipments -3.9% lower than 3Q 12 Mining: EBITDA +34.6% y-o-y -2 Sales +18.1% higher than 2Q 13 3Q 12 4Q 12 1Q 13 2Q 13 3Q 13 Own iron ore production +4.5% higher than 3Q 12 FCA FCE Long AACIS AMDS Own coal production -.4% lower than 3Q 12 3Q 13 Group EBITDA flat q-o-q; Improved FCA and Mining performance offset primarily by seasonally weaker FCE performance * Segmental figures shown above include one time adjustments 3

32 Flat Carbon Americas (FCA) EBITDA* (US$mn, LHS) and ASP (US$/t, RHS) Q12 4Q12 1Q13 2Q13 Flat Carbon Americas steel shipments ( t) 5,8 5,7 5,6 5,5 5, Q13 drop in Flat USA following labor issues at Burns Harbor and operational incidents at Indiana Harbor East and West 5,351 3Q12 5,533 4Q12 5,559 1Q ,47 2Q13-3% +87% +7% Q13 5,759 3Q13 1, FCA profitability improved in 3Q 13 vs. 2Q 13 * EBITDA in 3Q 12 was negatively impacted by $72m related to one-time signing bonus and post retirement benefit costs following entry into the new US labor contract. EBITDA in 1Q 213 was positively impacted by a $47 million fair valuation gain relating to the acquisition of an additional ownership interest DJ Galvanizing in Canada. The 212 information has been adjusted retrospectively for the mandatory adoption of new accounting standards Crude steel production increased by 13.5% to 6.3mt in 3Q 13 vs. 5.6mt in 2Q 13, driven primarily by a significant improvement in Flat USA following resolution of labour issues at Burns Harbor and operational incidents at Indiana Harbor East and West that impacted output in 2Q 13. Steel shipments in 3Q 13 were 5.8mt, an increase of 6.5% vs. 5.4mt in 2Q 13, primarily driven by higher shipment volumes in North America. Sales in the Flat Carbon Americas segment were $4.9bn in 3Q 13, an increase of 2.8% vs. $4.8bn in 2Q 13. The increase in sales was due to higher shipments, offset in part by lower average steel selling prices (ASP) (-3.2%), in particular in Mexico and South America (impacted by forex). EBITDA in 3Q 13 increased 86.7% to $547m vs. $293m in 2Q

33 Flat Carbon Europe (FCE) EBITDA* (US$mn, LHS) and ASP (US$/t, RHS) Q12 4Q12 1Q13 2Q13 Flat Carbon Europe steel shipments ( t) 7,2 7, 6,8 6,6 6,4 6,2 6, % % 191 5,837 3Q ,957 4Q % 6,89 1Q13 7,65 2Q13-7% Q13 6,579 3Q13 1, Flat Carbon Europe crude steel production decreased by.6% to 7.4 million tonnes in 3Q 13 vs. 7.5 million tonnes in 2Q 13. Steel shipments in 3Q 13 were 6.6 million tonnes, a decrease of 6.9% vs. 7.1 million tonnes in 2Q 13 due primarily due to normal seasonal demand patterns. Sales in the Flat Carbon Europe segment decreased to $6.3 billion in 3Q 13 as compared to $6.9 billion in 2Q 13, due to lower steel shipment volumes and lower average steel selling prices (-3.3%). EBITDA in 3Q 13 decreased 43.4% to $193 million vs. $341 million in 2Q 13. Steel margins were negatively impacted in 3Q 13 by lower volumes and to a lesser extent a negative price-cost effect (mitigated by management and asset optimisation gains). FCE profitability declined in 3Q 13 vs. 2Q 13 due to seasonal slowdown * EBITDA in 4Q 12 included $21m related to a net gain recorded on the sale of CO2 credits, the proceeds of which will be reinvested in energy projects. EBITDA in 3Q 12, 4Q 12 and 1Q 13 included $131m, $141m and $92m of DDH income recognized during the quarter, respectively. The 212 information has been adjusted retrospectively for the mandatory adoption of new accounting standards 32

34 Long Carbon Americas & Europe (LCAE) EBITDA (US$mn, LHS); ASP (US$/t, RHS) ,8 5,75 5,7 5,65 5,6 5,55 5,5 5,45 5, Q12 Long Carbon steel shipments ( t) 5,58 3Q Q12 5,543 4Q Q13 5,394 1Q Q13 5,772 2Q13-3% -17% -3% Q13 5,599 3Q13 1, Long Carbon Americas and Europe crude steel production increased by.5% to 5.8 million tonnes in 3Q 13 vs. 5.7 million tonnes in 2Q 13. Steel shipments in 3Q 13 were 5.6 million tonnes, a decrease of 3.% vs. 5.8 million tonnes in 2Q 13, primarily due to lower volumes in Europe (seasonal impact). Sales decreased 5.3% to $5.1 billion in 3Q 13 vs. $5.4 billion in 2Q 13. Sales were negatively impacted by lower volumes and lower average steel selling prices (-3.3%) particularly across the Long Carbon Americas (impacted by forex) and Tubular businesses. EBITDA in 3Q 13 was $463 million, a decline of 16.7% vs.$556 million in 2Q 13, primarily driven by lower seasonal volumes and lower ASP. Long Carbon profitability declined in 3Q 13 vs. 2Q 13 primarily due to seasonal slowdown in Europe The 212 information has been adjusted retrospectively for the mandatory adoption of new accounting standards 33

35 Asia, Africa and CIS (AACIS) EBITDA (US$mn, LHS) and ASP (US$/t, RHS) Q12 4Q12 1Q13 AACIS steel shipments ( t) 3,2 3,1 3, ,178 3,14 3Q12 2,978 4Q12 1Q13 2Q13-3% -13% Q13 +4% 3,187 3,62 2Q13 3Q AACIS crude steel production was 3.7 million tonnes in 3Q 13 an increase of.8% as compared to 2Q 13. Steel shipments in 3Q 13 amounted to 3.2 million tonnes, an increase of 4.1% as compared to 2Q 13 primarily due to higher steel shipment volumes in South Africa. Sales in the AACIS segment were flat at $2.1 billion in 3Q 13 as compared to 2Q 13, as higher steel volumes were offset by lower ASP (-3.2%). EBITDA in 3Q 13 declined 12.5% to $15 million vs. $12 million in 2Q 13 due to a price/cost squeeze impact. AACIS profitability declined in 3Q 13 vs. 2Q 13 * EBITDA in 4Q 12 includes the positive impact from the Paul Wurth asset divestment (a gain of $242 million). The 212 information has been adjusted retrospectively for the mandatory adoption of new accounting standards 34

2Q 2014 Results. Lakshmi N Mittal, Chairman and Chief Executive Officer Aditya Mittal, Chief Financial Officer. 1 August 2014

2Q 2014 Results. Lakshmi N Mittal, Chairman and Chief Executive Officer Aditya Mittal, Chief Financial Officer. 1 August 2014 2Q 2014 Results Lakshmi N Mittal, Chairman and Chief Executive Officer Aditya Mittal, Chief Financial Officer 1 August 2014 Disclaimer Forward-Looking Statements This document may contain forward-looking

More information

1Q 2014 Results. Lakshmi N Mittal, Chairman and Chief Executive Officer Aditya Mittal, Chief Financial Officer. 9 May 2014

1Q 2014 Results. Lakshmi N Mittal, Chairman and Chief Executive Officer Aditya Mittal, Chief Financial Officer. 9 May 2014 1Q 2014 Results Lakshmi N Mittal, Chairman and Chief Executive Officer Aditya Mittal, Chief Financial Officer 9 May 2014 Disclaimer Forward-Looking Statements This document may contain forward-looking

More information

Core Strengths, Sustainable Returns

Core Strengths, Sustainable Returns Nordic Senior Investor Day 2012 Core Strengths, Sustainable Returns Daniel Fairclough, Head of Investor Relations Hetal Patel, General Manager Investor Relations 23 May 2012 Disclaimer Forward-Looking

More information

1Q 2015 Results. Lakshmi N Mittal, Chairman and Chief Executive Officer Aditya Mittal, Chief Financial Officer. 7 May 2015

1Q 2015 Results. Lakshmi N Mittal, Chairman and Chief Executive Officer Aditya Mittal, Chief Financial Officer. 7 May 2015 1Q 2015 Results Lakshmi N Mittal, Chairman and Chief Executive Officer Aditya Mittal, Chief Financial Officer 7 May 2015 Disclaimer Forward-Looking Statements This document may contain forward-looking

More information

4Q 2015 Results Lakshmi N. Mittal, Chairman and Chief Executive Officer Aditya Mittal, Chief Financial Officer

4Q 2015 Results Lakshmi N. Mittal, Chairman and Chief Executive Officer Aditya Mittal, Chief Financial Officer 4Q 2015 Results Lakshmi N. Mittal, Chairman and Chief Executive Officer Aditya Mittal, Chief Financial Officer 5 February 2016 Disclaimer Forward-Looking Statements This document may contain forward-looking

More information

Fourth Quarter 2015. Questions and Answers

Fourth Quarter 2015. Questions and Answers Fourth Quarter 2015 Questions and Answers Forward-Looking Statements This document may contain forward-looking information and statements about ArcelorMittal and its subsidiaries. These statements include

More information

7th Annual Bene Symposium 2013

7th Annual Bene Symposium 2013 7th Annual Bene Symposium 2013 Daniel Fairclough, VP Investor Relations 3 December 2013 Disclaimer Forward-Looking Statements This presentation may contain forward-looking information and statements about

More information

ArcelorMittal reports fourth quarter 2015 and full year 2015 results

ArcelorMittal reports fourth quarter 2015 and full year 2015 results press release ArcelorMittal reports fourth quarter 2015 and full year 2015 results Luxembourg, February 5, 2016 - ArcelorMittal (referred to as ArcelorMittal or the Company ) (MT (New York, Amsterdam,

More information

Full year and fourth quarter 2014 results 1

Full year and fourth quarter 2014 results 1 Full year and fourth quarter results 1 Luxembourg, February 12, 2015 Highlights Health and Safety frequency rate 2 of 1.1x in compared to 1.3x in 2013. Shipments of 1,813 thousand tonnes in full year,

More information

Third quarter 2014 November 6, 2014. Aperam 1

Third quarter 2014 November 6, 2014. Aperam 1 Third quarter 2014 November 6, 2014 Aperam 1 Disclaimer Forward-Looking Statements This document may contain forward-looking information and statements about Aperam and its subsidiaries. These statements

More information

ArcelorMittal results for the first quarter 2015

ArcelorMittal results for the first quarter 2015 ArcelorMittal results for the first quarter 2015 Luxembourg, May 7, 2015 - ArcelorMittal (referred to as ArcelorMittal or the Company ) (MT (New York, Amsterdam, Paris, Luxembourg), MTS (Madrid)), the

More information

Full year and fourth quarter 2011 February 6, 2012. Aperam 1

Full year and fourth quarter 2011 February 6, 2012. Aperam 1 Full year and fourth quarter 2011 February 6, 2012 Aperam 1 Disclaimer Forward-Looking Statements This document may contain forward-looking information and statements about Aperam and its subsidiaries.

More information

Premium Review conference

Premium Review conference Premium Review conference Daniel Fairclough, VP Investor Relations Valérie Mella, IR Specialist 5 December 2013 Disclaimer Forward-Looking Statements This presentation may contain forward-looking information

More information

press release ArcelorMittal reports second quarter 2015 and half year 2015 results

press release ArcelorMittal reports second quarter 2015 and half year 2015 results press release ArcelorMittal reports second quarter 2015 and half year 2015 results Luxembourg, July 31, 2015 - ArcelorMittal (referred to as ArcelorMittal or the Company ) (MT (New York, Amsterdam, Paris,

More information

Second quarter 2015 results 1

Second quarter 2015 results 1 Second quarter results 1 Luxembourg, July 29, Highlights Health and Safety frequency rate 2 of 0.8x in Q2 compared to 1.3x in Q1. Shipments of 486 thousand tonnes in Q2 compared to 469 thousand tonnes

More information

Strengthening our balance sheet, repositioning the opportunity

Strengthening our balance sheet, repositioning the opportunity Strengthening our balance sheet, repositioning the opportunity General disclaimer For readers in the European Economic Area This presentation does not constitute an offer to sell, or the solicitation of

More information

First quarter 2015 results 1

First quarter 2015 results 1 First quarter results 1 Luxembourg, May 5, Highlights Health and Safety frequency rate 2 of 1.3x in Q1 compared to 1.8x in Q4. Shipments of 469 thousand tonnes in Q1 compared to shipments of 439 thousand

More information

Ternium Announces First Quarter 2015 Results

Ternium Announces First Quarter 2015 Results Sebastián Martí Ternium - Investor Relations +1 (866) 890 0443 +54 (11) 4018 2389 www.ternium.com Ternium Announces First Quarter 2015 Results Luxembourg, April 29, 2015 Ternium S.A. (NYSE: TX) today announced

More information

Adjusting financial policy

Adjusting financial policy Adjusting financial policy Aditya Mittal Chief Financial Officer and member of GMB 16 September 29 Investor day London & New York Disclaimer Forward-Looking Statements This document may contain forward-looking

More information

Mining teach in: Building a world class mining business

Mining teach in: Building a world class mining business Mining teach in: Building a world class mining business Peter Kukielski, GMB Member, Chief Executive Mining Simon Wandke, Vice President, Chief Commercial Officer Mining 22 February 2012 Mont Wright, Canada

More information

EVRAZ H1 2013 results Transcript of the conference call. Management Presentation. Corporate Participants

EVRAZ H1 2013 results Transcript of the conference call. Management Presentation. Corporate Participants EVRAZ H1 2013 results Transcript of the conference call Corporate Participants Alexander Frolov Giacomo Baizini Pavel Tatyanin Management Presentation Operator Thank you for standing by and welcome to

More information

FURTHER PROFIT GROWTH IN FIRST-HALF 2015

FURTHER PROFIT GROWTH IN FIRST-HALF 2015 FURTHER PROFIT GROWTH IN FIRST-HALF 2015 Net sales of 37.7bn, up +5.2% (+2.9% on an organic basis) Growth in Recurring Operating Income: 726m, +2.6% at constant rates Strong growth in adjusted net income,

More information

Interim Financial Report 9M/2015

Interim Financial Report 9M/2015 Interim Financial Report 9M/2015 Investor & Analyst Conference Call 5 November 2015 Investor Relations Agenda. 1. Financials 9M/2015 2. Outlook Page 2 SGL Group Investor Relations 05 November 2015 Performance

More information

Financial Information

Financial Information Financial Information Solid results with in all key financial metrics of 23.6 bn, up 0.4% like-for like Adjusted EBITA margin up 0.3 pt on organic basis Net profit up +4% to 1.9 bn Record Free Cash Flow

More information

Klöckner & Co SE. Q3 2014 Results

Klöckner & Co SE. Q3 2014 Results Klöckner & Co SE A Leading Multi Metal Distributor Gisbert Rühl CEO Marcus A. Ketter CFO Results Analysts and Investors Conference November 6, Disclaimer This presentation contains forward-looking statements

More information

RHI AG. May 12, 2016

RHI AG. May 12, 2016 RHI AG Results 1Q/16 May 12, 2016 Highlights & Lowlights Highlights Positiv Steel Division operating EBIT margin of 7.8% in 1Q/16 driven by Europe and North America as a result of an improved product mix

More information

FRANKLIN ELECTRIC REPORTS RECORD SECOND QUARTER 2013 SALES AND EARNINGS

FRANKLIN ELECTRIC REPORTS RECORD SECOND QUARTER 2013 SALES AND EARNINGS For Immediate Release For Further Information Refer to: John J. Haines 260-824-2900 FRANKLIN ELECTRIC REPORTS RECORD SECOND QUARTER 2013 SALES AND EARNINGS Bluffton, Indiana July 30, 2013 - Franklin Electric

More information

Q4 2015 AND 12M 2015 NLMK GROUP CONSOLIDATED FINANCIAL RESULTS UNDER IFRS

Q4 2015 AND 12M 2015 NLMK GROUP CONSOLIDATED FINANCIAL RESULTS UNDER IFRS Media contact info: Sergey Babichenko +7 (916) 824 6743 babichenko_sy@nlmk.com IR contact info: Sergey Takhiev +7 (495) 915 1575 st@nlmk.com Press release 24 March 2016 Q4 2015 AND 12M 2015 NLMK GROUP

More information

W.W. Grainger, Inc. First Quarter 2015 Results Page 1 of 9

W.W. Grainger, Inc. First Quarter 2015 Results Page 1 of 9 W.W. Grainger, Inc. First Quarter 2015 Results Page 1 of 9 News Release GRAINGER REPORTS RESULTS FOR THE 2015 FIRST QUARTER Revises 2015 Guidance Quarterly Summary Sales of $2.4 billion, up 2 percent Operating

More information

Disclaimer. No offer of securities This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities.

Disclaimer. No offer of securities This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities. Disclaimer Forward looking statements Certain statements in this document are not historical facts and are or are deemed to be forward-looking. NWR s prospects, plans, financial position and business strategy,

More information

Second Quarter 2015 Earnings Conference Call

Second Quarter 2015 Earnings Conference Call Second Quarter 2015 Earnings Conference Call NYSE: CVA JULY 22, 2015 Cautionary Statements All information included in this earnings presentation is based on continuing operations, unless otherwise noted.

More information

Europe: Growth of +7.8% in Recurring Operating Income France: New half of improved profitability

Europe: Growth of +7.8% in Recurring Operating Income France: New half of improved profitability 2014 FIRST HALF RESULTS: CONTINUED GROWTH Organic sales growth of 4.3% Increase in Recurring Operating Income of +13.8% Strong increase in adjusted net income, Group share of +16.7% Strong profit growth

More information

Result up on higher volumes and prices

Result up on higher volumes and prices Result up on higher volumes and prices First quarter presentation 2013 (1) highlights Underlying EBIT NOK 1 077 million Higher sales volumes driven by seasonality Increased realized alumina and aluminium

More information

Management Presentation Q2/2012 Results. 8 August 2012

Management Presentation Q2/2012 Results. 8 August 2012 Management Presentation Q2/2012 Results 8 August 2012 Cautionary statement This presentation contains forward-looking statements which involve risks and uncertainties. The actual performance, results and

More information

Q2-14 Financial Results. July 30, 2014

Q2-14 Financial Results. July 30, 2014 Q2-14 Financial Results July 30, 2014 Forward-looking Statements & Non-GAAP Measures Information contained in these materials or presented orally on the earnings conference call, either in prepared remarks

More information

ACADIAN TIMBER CORP. REPORTS FOURTH QUARTER AND YEAR-END RESULTS

ACADIAN TIMBER CORP. REPORTS FOURTH QUARTER AND YEAR-END RESULTS News Release Investors, analysts and other interested parties can access Acadian Timber Corp. s 2015 Fourth Quarter Results conference call via webcast on Thursday, February 11, 2016 at 1:00 p.m. ET at

More information

Fourth quarter 2007. February 19, 2008 (1)

Fourth quarter 2007. February 19, 2008 (1) Fourth quarter 1 3 2 4 February 19, 2008 (1) Highlights Strong year for Hydro hit by lower aluminium prices in NOK and weaker downstream markets Solid operational performance Qatalum on track, 9% complete

More information

Half year results 2011

Half year results 2011 Half year results 2011 29 July 2011 Bert De Graeve, Chief Executive Officer Bruno Humblet, Chief Financial Officer Address by Bert De Graeve, Chief Executive Officer Introductory remark The consolidated

More information

Q3 Fiscal Year 2015 Earnings Conference Call

Q3 Fiscal Year 2015 Earnings Conference Call NASDAQ: CMCO Q3 Fiscal Year 2015 Earnings Conference Call January 29, 2015 Timothy T. Tevens President & Chief Executive Officer Gregory P. Rustowicz Vice President - Finance & Chief Financial Officer

More information

Klöckner & Co SE. Q3 2014 Results

Klöckner & Co SE. Q3 2014 Results Klöckner & Co SE A Leading Multi Metal Distributor Gisbert Rühl CEO Q3 2014 Results Press Telephone Conference November 6, 2014 Disclaimer This presentation contains forward-looking statements which reflect

More information

Global Metals & Mining Conference

Global Metals & Mining Conference Global Metals & Mining Conference December 1-2, 2015 Disclaimer Forward-Looking Statements This document may contain forward-looking information and statements about ArcelorMittal and its subsidiaries.

More information

2Q15 Earnings Conference Call

2Q15 Earnings Conference Call 2Q15 Earnings Conference Call André B. Gerdau Johannpeter President and CEO Harley Lorentz Scardoelli Financial, Planning and IR Director - CFO Credit: New York State Thruway Authority Gerdau is supplying

More information

Press Release November 2015 www.vallourec.com

Press Release November 2015 www.vallourec.com Press Release November 2015 www.vallourec.com Vallourec reports third quarter and first nine months 2015 results Q3 2015 financial results continued to be impacted by tough market conditions: Revenues

More information

2013 Half Year Results

2013 Half Year Results 2013 Half Year Results Erwin Stoller, Executive Chairman Joris Gröflin, Chief Financial Officer Agenda 1. Introduction and summary of first half year 2013 2. Financial results first half year 2013 3. Outlook

More information

Implementing a leaner and more efficient organisation to capture management gains

Implementing a leaner and more efficient organisation to capture management gains Implementing a leaner and more efficient organisation to capture management gains Davinder Chugh Member of the Group Management Board 16 September 2009 Investor day London & New York 0 Disclaimer Forward-Looking

More information

Acerinox Press Release 2014 First Half Results. Page 0 / 10

Acerinox Press Release 2014 First Half Results. Page 0 / 10 Page 0 / 10 2014 First Half Results Acerinox's profit after taxes and minorities for the first half of 2014 is Euros 76.1 million, representing a rise of 373% on the same period in the prior year The Group's

More information

ITW Conference Call Third Quarter 2013

ITW Conference Call Third Quarter 2013 ITW Conference Call Third Quarter 2013 October 22, 2013 SOLID GROWTH. STRONG RETURNS. BEST-IN-CLASS OPERATOR. Forward-Looking Statements Safe Harbor Statement This conference call contains forward-looking

More information

GrandVision reports Revenue growth of 13.8% and EPS growth of 31.7%

GrandVision reports Revenue growth of 13.8% and EPS growth of 31.7% GrandVision reports Revenue of 13.8% and EPS of 31.7% Schiphol, the Netherlands 16 March 2015. GrandVision NV (EURONEXT: GVNV) publishes Full Year and Fourth Quarter 2015 results. 2015 Highlights Revenue

More information

Prices are set to firm in early Q2, but demand and prices likely to weaken before holiday periods

Prices are set to firm in early Q2, but demand and prices likely to weaken before holiday periods Prices are set to firm in early Q2, but demand and prices likely to weaken before holiday periods The Eurozone crisis has eased slightly, though concerns could re emerge at any time and any unforeseen

More information

Disclaimer. This document has been prepared by Tele Columbus AG (the "Company") solely for informational purposes.

Disclaimer. This document has been prepared by Tele Columbus AG (the Company) solely for informational purposes. Disclaimer This document has been prepared by Tele Columbus AG (the "Company") solely for informational purposes. This presentation may contain forward-looking statements. These statements are based on

More information

Global Mining & Materials Conference-Boston. 17 June 2014

Global Mining & Materials Conference-Boston. 17 June 2014 Global Mining & Materials Conference-Boston 17 June 2014 Disclaimer Forward-Looking Statements This document may contain forward-looking information and statements about ArcelorMittal and its subsidiaries.

More information

Ludwigshafen, February 25, 2014

Ludwigshafen, February 25, 2014 Ludwigshafen, February 25, 2014 Analyst Conference FY2013 Cautionary note regarding forward-looking statements This presentation may contain forward-looking statements that are subject to risks and uncertainties,

More information

Second Quarter 2015 Investor Conference Call

Second Quarter 2015 Investor Conference Call Second Quarter 2015 Investor Conference Call August 20, 2015 December 13, 2012 DRAFT 5 Safe Harbor Basis of Presentation Unless otherwise noted or unless the context otherwise requires, all references

More information

QUARTERLY REPORT FOR THE PERIOD ENDING 31 MARCH 2015

QUARTERLY REPORT FOR THE PERIOD ENDING 31 MARCH 2015 QUARTERLY REPORT FOR THE PERIOD ENDING 31 MARCH 2015 HIGHLIGHTS Positive free cashflow (revenue less operating costs and CAPEX) of $191k for the month of March; a first in the history of Lynas Amended

More information

TECO Energy Edison Electric Institute Financial Conference

TECO Energy Edison Electric Institute Financial Conference TECO Energy Edison Electric Institute Financial Conference Dallas, TX Nov. 13, 2014 Forward Looking Statements The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking

More information

FOR IMMEDIATE RELEASE

FOR IMMEDIATE RELEASE FOR IMMEDIATE RELEASE O-I REPORTS FULL YEAR AND FOURTH QUARTER 2014 RESULTS O-I generates second highest free cash flow in the Company s history PERRYSBURG, Ohio (February 2, 2015) Owens-Illinois, Inc.

More information

Debt investor presentation 2015 financial year

Debt investor presentation 2015 financial year Macedon Debt investor presentation 2015 financial year Peter Beaven Chief Financial Officer 25 August 2015 Disclaimer Forward-looking statements This presentation contains forward-looking statements, including

More information

Third Quarter 2015 Earnings Conference Call. 21 August 2015

Third Quarter 2015 Earnings Conference Call. 21 August 2015 Third Quarter 2015 Earnings Conference Call 21 August 2015 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning the

More information

Third quarter results FY2015. August 17, 2015

Third quarter results FY2015. August 17, 2015 Third quarter results FY2015 August 17, 2015 Disclaimer Stabilus S.A. (the Company, later Stabilus ) has prepared this presentation solely for your information. It should not be treated as giving investment

More information

FINANCIAL RESULTS FOR THE THREE MONTH ENDED JUNE 2013

FINANCIAL RESULTS FOR THE THREE MONTH ENDED JUNE 2013 FINANCIAL RESULTS FOR THE THREE MONTH ENDED JUNE 2013 Based on US GAAP Mitsubishi Corporation 2-3-1 Marunouchi, Chiyoda-ku, Tokyo, JAPAN 100-8086 http://www.mitsubishicorp.com/ Mitsubishi Corporation and

More information

First Quarter 2015 Earnings Conference Call. 20 February 2015

First Quarter 2015 Earnings Conference Call. 20 February 2015 First Quarter 2015 Earnings Conference Call 20 February 2015 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning

More information

Q2 / H1 2015 results. Investor Presentation 30 July 2015

Q2 / H1 2015 results. Investor Presentation 30 July 2015 Q2 / H1 2015 results Investor Presentation 30 July 2015 Information Full year consolidated financial statements at 31 December are audited Half year financial statements are subject to limited review by

More information

Results Presentation Jan-Sep 2014. November 25 th, 2014

Results Presentation Jan-Sep 2014. November 25 th, 2014 Results Presentation Jan-Sep 2014 November 25 th, 2014 Disclaimer This document has been prepared by Grupo Isolux Corsán, S.A.; therefore no part of it may be published, disclosed or distributed in any

More information

The European Angle Conference 2016 - Milan Hetal Patel, IR General Manager Valérie Mella, IR Specialist

The European Angle Conference 2016 - Milan Hetal Patel, IR General Manager Valérie Mella, IR Specialist The European Angle Conference 2016 - Milan Hetal Patel, IR General Manager Valérie Mella, IR Specialist 12 May 2016 Disclaimer Forward-Looking Statements This document may contain forward-looking information

More information

1Q16 Earnings Release. April 28 th 2016 LG Electronics

1Q16 Earnings Release. April 28 th 2016 LG Electronics 1Q16 Earnings Release April 28 th 2016 LG Electronics All information regarding management performance and financial results of LG Electronics (the Company ) during the 1 st quarter of 2016 as contained

More information

Press release 4 October 2010 Novolipetsk Steel

Press release 4 October 2010 Novolipetsk Steel Press release 4 October NLMK 6M US GAAP Results (LSE: NLMK), the LSE listed leading n steel producer, today announces its consolidated US GAAP results for the first six months of. Key financials USD, million

More information

FORACO INTERNATIONAL REPORTS Q3 2014

FORACO INTERNATIONAL REPORTS Q3 2014 NEWS RELEASE FORACO INTERNATIONAL REPORTS Q3 2014 Toronto, Ontario / Marseille, France Tuesday, November 4, 2014 Foraco International SA (TSX:FAR) (the Company or Foraco ), a leading global provider of

More information

Results on Q1/2015. Conference Call. 29 April 2015. Investor Relations

Results on Q1/2015. Conference Call. 29 April 2015. Investor Relations Results on Q1/2015 Investor & Analyst Conference Call 29 April 2015 Investor Relations Agenda. 1. Review Q1/2015 2. Financials Q1/2015 3. Outlook 2015 Page 2 SGL Group Investor Relations 29 April 2015

More information

Full-year results 2014. December 02, 2014

Full-year results 2014. December 02, 2014 Full-year results 2014 December 02, 2014 Disclaimer Stabilus S.A. (the Company, later Stabilus ) has prepared this presentation solely for your information. It should not be treated as giving investment

More information

CONFERENCE CALL Q1-Q3 2010. 10 November 2010

CONFERENCE CALL Q1-Q3 2010. 10 November 2010 CONFERENCE CALL Q1-Q3 2010 10 November 2010 Agenda Overview Q1-Q3 Q3 2010 Dr Helmut Leube, Chairman of the Management Board Key financials i Q1-Q3 Q3 2010 Dr Margarete Haase, CFO Outlook Dr Helmut Leube,

More information

K+S Group FY/Q4 2014 Analyst conference. 12 March 2015, Frankfurt am Main. Norbert Steiner, CEO Dr. Burkhard Lohr, CFO

K+S Group FY/Q4 2014 Analyst conference. 12 March 2015, Frankfurt am Main. Norbert Steiner, CEO Dr. Burkhard Lohr, CFO Experience growth. FY/Q4 2014 Analyst conference 12 March 2015, Frankfurt am Main Norbert Steiner, CEO Dr. Burkhard Lohr, CFO Agenda A. FY 2014 Financials B. Projects and initiatives C. Q4 Financials D.

More information

Baader Investment Conference

Baader Investment Conference Baader Investment Conference Bernhard Kleinermann, Director Corporate Communication and IR Munich, September 23, 20 1 Market Situation 2 Financial Accounts First Half of 20 3 Salzgitter AG 20 / Prospects

More information

*See note 4 to our Summary Financial Information table below concerning our current operational and reporting structure

*See note 4 to our Summary Financial Information table below concerning our current operational and reporting structure INTERIM REPORT 1(39) Nokia Corporation Interim Report for Q1 2014 FINANCIAL AND OPERATING HIGHLIGHTS First quarter 2014 highlights for continuing operations*: Nokia s non-ifrs diluted EPS in Q1 2014 of

More information

Media Contact: Mike Conway Director, Corporate Communications Sherwin-Williams Direct: 216.515.4393 Pager: 216.422.3751 mike.conway@sherwin.

Media Contact: Mike Conway Director, Corporate Communications Sherwin-Williams Direct: 216.515.4393 Pager: 216.422.3751 mike.conway@sherwin. The Sherwin-Williams Company Reports First Quarter 2012 Financial Results Consolidated net sales increased 15.1% to a record $2.14 billion Diluted net income per common share increased 50.8% to a record

More information

Dr. Burkhard Lohr, CFO

Dr. Burkhard Lohr, CFO Experience growth. K+S Group Q2/15 Results 13 August 2015 Dr. Burkhard Lohr, CFO K+S Group Highlights Rejection of Potash Corp s unsolicited proposal The proposed transaction does not reflect the fundamental

More information

Press Release July 2015 www.vallourec.com

Press Release July 2015 www.vallourec.com Press Release July 2015 www.vallourec.com Vallourec reports second quarter and first half 2015 results H1 2015 financial results continue to be affected by reduced demand: Revenues at 2,070 million, down

More information

Yara International ASA Third Quarter results 2012

Yara International ASA Third Quarter results 2012 Yara International ASA Third Quarter results 212 19 October 212 1 Summary third quarter Strong results and cash flow Yara-produced NPK deliveries up 1% Strong production increase Cautious start to European

More information

Q1 Fiscal Year 2016 Earnings Conference Call

Q1 Fiscal Year 2016 Earnings Conference Call NASDAQ: CMCO Q1 Fiscal Year 2016 Earnings Conference Call July 31, 2015 Timothy T. Tevens President & Chief Executive Officer Gregory P. Rustowicz Vice President - Finance & Chief Financial Officer 2015

More information

FORD UNIVERSITY. Stuart Rowley Vice President and Controller

FORD UNIVERSITY. Stuart Rowley Vice President and Controller FORD UNIVERSITY Stuart Rowley Vice President and Controller March 13, 2015 FORD UNIVERSITY Agenda for today s discussion: Warranty Reserves China JV Equity Earnings Venezuela Accounting Change Cash Drivers

More information

2014 HALF YEAR RESULTS 4 September 2014

2014 HALF YEAR RESULTS 4 September 2014 862m H1 2014 Revenues 2014 HALF YEAR RESULTS 4 September 2014 57% of Revenues for International in H1 2014 21,657 Employees In H1 2014 Disclaimer This presentation contains forward-looking statements (as

More information

GrandVision reports 2.8 billion Revenue and 449 million EBITDA for 2014

GrandVision reports 2.8 billion Revenue and 449 million EBITDA for 2014 GrandVision reports 2.8 billion Revenue and 449 million EBITDA for 2014 Schiphol, the Netherlands 18 March 2015. GrandVision N.V. publishes Full Year and Quarter 2014 results. 2014 Highlights Revenue grew

More information

Go Further 1Q 2015 FIXED INCOME REVIEW APRIL 28, 2015

Go Further 1Q 2015 FIXED INCOME REVIEW APRIL 28, 2015 Go Further 1Q 2015 FIXED INCOME REVIEW APRIL 28, 2015 FORD CREDIT 1Q 2015 OPERATING HIGHLIGHTS* Another strong performance with pre-tax profit of $483 million and net income of $306 million Managed receivables

More information

Q2 F2016 Conference Call

Q2 F2016 Conference Call Q2 F2016 Conference Call Driving Value April 28, 2016 Cautionary Statement Information in this presentation relating to projected growth and financial performance of the Company s business units, contribution

More information

Third quarter results as of December 31, 2014. Investor presentation

Third quarter results as of December 31, 2014. Investor presentation Third quarter results as of December 31, 2014 Investor presentation February, 26 th 2015 Disclaimer Certain statements included or incorporated by reference within this presentation may constitute forwardlooking

More information

TomTom reports first quarter 2012 results

TomTom reports first quarter 2012 results De Ruyterkade 154 1011 AC Amsterdam, The Netherlands corporate.tomtom.com ir@tomtom.com 25 April 2012 TomTom reports first quarter 2012 results Financial headlines - Group revenue of 233 million - Content

More information

Technology + Innovation = Sustainability

Technology + Innovation = Sustainability Technology + Innovation = Sustainability David Woolley (CEO) & David Bessant (CFO) Q3 2012 Interim Report 1 Agenda Q3-12 Highlights DW Summary of financial results DB Economic head wind and de-stocking

More information

1Q15 Earnings Release. April 29 th 2015 LG Electronics

1Q15 Earnings Release. April 29 th 2015 LG Electronics 1Q15 Earnings Release April 29 th 2015 LG Electronics All information regarding management performance and financial results of LG Electronics (the Company ) during the 1 st quarter of 2015 as contained

More information

Cytec Announces First Quarter 2010 Results. As-Adjusted EPS of $0.66, Significantly Above Prior Year As-Adjusted EPS of $0.06

Cytec Announces First Quarter 2010 Results. As-Adjusted EPS of $0.66, Significantly Above Prior Year As-Adjusted EPS of $0.06 cytec News & Information Cytec Industries Inc. Five Garret Mountain Plaza Woodland Park, New Jersey 07424 www.cytec.com Contact: Jodi Allen (Investor Relations) (973) 357-3283 Release Date: Immediate Cytec

More information

Download Full Financial Release (PDF) Download Slides (PDF)

Download Full Financial Release (PDF) Download Slides (PDF) Oct 30, 2012 Ford Earns Record Third Quarter 2012 Pre-Tax Operating Profit of $2.2 Billion, Net Income of $1.6 Billion+ Download Full Financial Release (PDF) Download Slides (PDF) Best-ever third quarter

More information

Finance. Eivind Kallevik. Capital Markets Day 2013 (1)

Finance. Eivind Kallevik. Capital Markets Day 2013 (1) Finance Eivind Kallevik Capital Markets Day 2013 (1) Agenda Financial policy Financial reporting going forward Internal measures External results Earning drivers (2) Financial policy 01 (3) Priorities

More information

For personal use only GALE PACIFIC LIMITED

For personal use only GALE PACIFIC LIMITED GALE PACIFIC LIMITED RESULTS FOR YEAR ENDED 30 JUNE 2013 FY13 Review FY13 FY12 FY11 A$M S A$M S % Variance A$M S Sales 120.0 110.5 9% 95.6 EBITDA 18.0 18.0 0% 15.8 EBIT 12.9 12.5 4% 9.9 NPAT 9.1 8.5 7%

More information

Investor & Analyst Conference Call

Investor & Analyst Conference Call Interim Financial i lreport H1/2015 Investor & Analyst Conference Call 06 August 2015 Investor Relations Agenda. 1. Financials H1/2015 2. Review and outlook 2015 Page 2 SGL Group Investor Relations 06

More information

GAP INC. REPORTS FOURTH QUARTER AND FISCAL YEAR 2014 RESULTS

GAP INC. REPORTS FOURTH QUARTER AND FISCAL YEAR 2014 RESULTS GAP INC. REPORTS FOURTH QUARTER AND FISCAL YEAR 2014 RESULTS Fourth Quarter 2014 Earnings Per Share Grew 10 Percent; Up 20 Percent Excluding Foreign Exchange Impact Fiscal Year 2014 Earnings Per Share

More information

NEWS RELEASE 16 July 2008. Wolseley plc Pre-Close Period Trading Statement for the eleven months ended 30 June 2008

NEWS RELEASE 16 July 2008. Wolseley plc Pre-Close Period Trading Statement for the eleven months ended 30 June 2008 NEWS RELEASE 16 July 2008 Wolseley plc Pre-Close Period Trading Statement for the eleven months ended 30 June 2008 Wolseley plc, the world s largest specialist trade distributor of plumbing and heating

More information

Earnings Release 9M2015

Earnings Release 9M2015 Earnings Release 9M2015 19 November 2015 Results overview Regional segments Final remarks PAGE 3 PAGE 12 PAGE 22 Europe Africa Latin America 2 Key highlights Consolidation of EGF in the 3Q15, according

More information

For personal use only

For personal use only 2016 Investor Presentation Bank of America Merrill Lynch - Global Metals & Mining Conference 11 May 2016 ASX: SGM USOTC: SMSMY www.simsmm.com Business Highlights Company Global leader in metals and electronics

More information