ArcelorMittal Flat Carbon Europe reports EUR2,212 million Q4 2012 operating loss

Wed Feb 6, 2013 1:15am EST

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Luxembourg, February 6th, 2013 - ArcelorMittal today announced results for its Flat Carbon Europe
segment for the fourth quarter and full year of 2012.

The segment recorded an operating loss of EUR2,212 million for the fourth quarter of 2012 which
includes impairments and restructuring costs but excludes interest and tax costs. The total
operating loss for the full year was EUR2,855 million. Operating results in 4Q 2012 included a
$2.5 billion write down of goodwill due to the weaker macro economic and market environment in
Europe.  

*Compared to 3Q 2012, the segment's crude steel production fell 5.1% to 6.4 Mt in 4Q 2012 as
inventory levels were reduced and output was aligned with local market demand levels. For the year
as a whole production dropped by 7% to 27.4 Mt

*Steel shipments for 4Q 2012 increased to 6 Mt, a small increase of 2.1% as compared to 5.8 Mt for
3Q 2012 due to a mild pick up following the seasonally weaker summer period. However, a decrease
of 4% was recorded for the year as a whole to 26 Mt when compared to 27.1Mt in 2011

*Sales were EUR4.7 billion for 4Q 2012, a marginal decrease of 2.8%  as compared to EUR4.8 billion
for 3Q 2012 due to lower prices; while for the year as a whole there was a decrease of 5.1% to
EUR21.1 billion

*Capital expenditure in the segment for the fourth quarter of 2012 was EUR116 million and for full
year 2012 CAPEX spend reached EUR637 million

Eurozone GDP has contracted almost every quarter since Q4'2011. Investment and consumption are
likely to decline again, as unemployment (a record level of 11.8%) and declining credit weigh on
retail sales, down 2.6% y-o-y in December 2012. With Greece still facing important debt issues,
Spain and Italy facing extended recessions, the Eurozone is likely to remain in recession, with
2013 GDP down -0.2% y-o-y. Auto demand was very weak during 2012, with sales down 8.4% to levels
not seen since mid of the 1990's. Apparent steel demand in the European Union in 2012 is estimated
to have declined almost 9% for the year as a whole and by over 3% in Q4 alone. EU demand is now
almost 30% below 2007 levels.

Robrecht Himpe, CEO of Flat Carbon Europe and member of the ArcelorMittal Management Committee,
said "Underlying steel demand remains weak in Europe and looks set to remain so in 2013. Our
customers are continuing to scale back capital investment in response. During the last quarter
we've continued to implement measures to respond to this situation, to deliver excellent service
to our customers and to become more cost competitive. The essential components of asset
optimization have been announced. While some of these measures and projects are not easy for our
employees, we will always strive to find a socially acceptable solution for all those possibly
affected."   

About ArcelorMittal

ArcelorMittal is the world's leading steel and mining company, with a presence in more than 60
countries.

ArcelorMittal is the leader in all major global carbon steel markets, including automotive,
construction, household appliances and packaging, with leading R&D and technology. The Group also
has a world class mining business with a global portfolio of over 20 mines in operation and
development, and is the world's 4th largest iron ore producer. With operations in over 22
countries spanning four continents, the Company covers all of the key industrial markets, from
emerging to mature, and has outstanding distribution networks.

Through its core values of sustainability, quality and leadership, ArcelorMittal commits to
operating in a responsible way with respect to the health, safety and well-being of its employees,
contractors and the communities in which it operates. It is also committed to the sustainable
management of the environment. It takes a leading role in the industry's efforts to develop
breakthrough steelmaking technologies and is actively researching and developing steel-based
technologies and solutions that contribute to combat climate change. ArcelorMittal is a member of
the FTSE4Good Index and the Dow Jones Sustainability World Index.

In 2011, ArcelorMittal had revenues of $94.0 billion and crude steel production of 91.9 million
tonnes, representing approximately 6 per cent of world steel output. The Group's mining operations
produced 54 million tonnes of iron ore and 8 million tonnes of metallurgical coal.

ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT),
Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia
(MTS).

For more information about ArcelorMittal visit: www.arcelormittal.com
http://www.arcelormittal.com/

 Contact information ArcelorMittal Investor Relations                                                                                                                                                                                                              
   Europe   + 352   4792  2484   Americas   + 1 312  899  3569   Retail   + 44 203 214  3198   SRI   + 44  207 543 1128   Bonds/Credit         + 33  171 92 10 26                                                                                                  
 Contact information ArcelorMittal  Corporate Communications                                                                                                                                                                                                       
 E-mail: press@arcelormittal.com mailto:press@arcelormittal.com                                                                                                                                                                                                    
 Phone: +352 4792 5000                                                                                                                                                                                                                                             
 ArcelorMittal Corporate Communications                                                                                                                                                                                                                            
   Giles Read (Head of Media Relations)   + 44 20 3214 2845   Tobin Postma   + 44 20 3214 2412   United Kingdom   Maitland Consultancy:   Martin Leeburn   + 44 20 7379 5151   France   Image 7   Sylvie Dumaine / Anne-Charlotte Creach        + 33 1 5370 7470   


Americas

+ 1 312  899  3569

Retail

+ 44 203 214  3198

SRI

+ 44  207 543 1128

Bonds/Credit

+ 33  171 92 10 26

Contact information ArcelorMittal  Corporate Communications
E-mail: press@arcelormittal.com mailto:press@arcelormittal.com 
Phone: +352 4792 5000

ArcelorMittal Corporate Communications

 Giles Read (Head of Media Relations)    + 44 20 3214 2845  
 Tobin Postma                            + 44 20 3214 2412  
                                                            
 United Kingdom                                             
 Maitland Consultancy:                                      
 Martin Leeburn                          + 44 20 7379 5151  
                                                            
 France                                                     
 Image 7                                                    
 Sylvie Dumaine / Anne-Charlotte Creach  + 33 1 5370 7470   


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Source: ArcelorMittal S.A. via Thomson Reuters ONE


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