Klavertjevier schreef op 24 maart 2014 12:32:
"Rise in steel demand in US, Europe a relief for Lakshmi Mittal
Kunal Bose
March 18, 2014 Last Updated at 22:33 IST
For sector specialists and investors, earnings before interest, tax, depreciation and amortisation (Ebitda) is the most important metric to judge the prospects of a steel-producing entity. Unsurprisingly, the outlook for shares of ArcelorMittal, which produces more steel than the combined output of the world's second- and third-largest steelmakers, has improved significantly on Chairman Lakshmi Mittal's announcement this year there Ebitda would rise to $8 billion from $6.9 billion last year. In 2013, the Ebitda rose 11 per cent over the previous year.
As is the case with peers in the West, ArcelorMittal has been on the ropes in recent years, with steel demand falling, particularly in Europe, and product prices not covering making costs. After four years of aggressive cost cutting, process optimisation, laying off unproductive capacity after overcoming opposition from unions and the governments of host countries, and progressively reducing balance sheet leverage, Mittal is "cautiously optimistic" on the outlook."
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