ArcelorMittal has announced results for the three month and twelve month periods ended December 31, 2017.
Health and safety performance improved in FY 2017 with annual LTIF rate of 0.78x vs. 0.82x in FY 2016. However, FY 2017 net income of USD 4.6B, was higher as compared to USD 1.8 billion for FY 2016. The company accomplished FY 2017 steel shipments of 85.2Mt (+1.6% YoY); 4Q 2017 steel shipments of 21.0Mt (+4.7% YoY). However, FY 2017 iron ore shipments of 57.9Mt (+3.5% YoY), of which 35.7Mt shipped at market prices (+6.1% YoY); 4Q 2017 iron ore shipments of 14.3Mt (+5.4% YoY), of which 8.4Mt shipped at market prices (+3.8% YoY)
Gross debt of USD 12.9B was reported on December 31, 2017. Net debt decreased to USD 10.1B as of December 31, 2017, lower as compared to USD 12.0B as of September 30, 2017 and USD 11.1B as of December 31, 2016.
The company has also invested in high return opportunities like Anticipated ILVA (Italy), Mexico hot strip mill (HSM) and Brazil long business.
The Company will continue to invest in opportunities that will enhance future returns.