October 16, 2008

ArcelorMittal gives positive guidance for Q2 of 2008

World’s largest steel company ArcelorMittal, while announcing results for the three months ended March 31st 2008, has given a positive outlook for Q2 of 2008.

It said that EBITDA guidance for Q2 of 2008 to exceed USD 6.5 billion as compared with USD 5.0 billion in Q1of 2008 and USD 5.3 billion in Q2 of 2007.

Mr LN Mittal chairman and CEO of ArcelorMittal said that “Despite global economic uncertainties, we are continuing to see strong demand for steel and a healthy pricing dynamic. This global demand is supported by the continued industrialization of a number of key, emerging economies and ArcelorMittal is well positioned to continue to take advantage of these dynamics. “

He added that “Looking forward, we expect EBITDA in the second quarter to be higher than in the first quarter to exceed USD 6.5 billion, largely on account of strong demand for our products across all regions.”