Europe woes hurt ArcelorMittal’s earnings

May 10, 2012 | 03:50 AM |

Tags  ArcelorMittal SA’s earnings fell by nearly a quarter year on year in the first three months of 2012 as the company’s European flat products unit continued to operate at a loss.

DUBAI, United Arab Emirates — ArcelorMittal SA’s earnings fell by nearly a quarter in the first three months of 2012 compared with a year earlier as the company’s European flat products unit continued to operate at a loss.

The world’s largest steelmaker said its earnings before interest, taxes, depreciation and amortization (Ebitda) totaled $1.97 billion, down 23.6 percent from $2.58 billion over the same period in 2011, even as total quarterly revenues were up 2.3 percent to $22.7 billion. ....




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