BRUSSELS (Reuters) – ArcelorMittal reported a better-than-expected quarterly operating profit on Thursday, as the world’s second-largest steelmaker continued “to demonstrate structurally improved profitability”.
The group still expects growth in global steel demand outside China this year of between 1% and 2%, it said in a press release.
In Europe, however, demand is expected to be below the previously announced forecast range, between -0.5% and +1.5%, due to weak construction activity in that region, said ArcelorMittal.
During the third quarter, the Luxembourg-based group made earnings before interest, taxes, depreciation and amortization (Ebitda) of $1.87 billion, beating analysts’ average forecast of $1.8 billion, according to a consensus provided by society.
(Marine Strauss reporting; French version Dagmarah Mackos, editing by Kate Entringer)
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