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ACL: Trading Statement
ArcelorMittal South Africa Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1989/002164/06)
Share code: ACL ISIN: ZAE 000134961
(“ArcelorMittal South Africa “, “the Company” or “Group”)
TRADING STATEMENT
In terms of paragraph 3.4(b) (i) of the Listings Requirements of the Johannesburg Stock
Exchange Limited (“JSE”), companies are required to publish a trading statement as soon as
they become reasonably certain that their financial results for the period to be reported on
next will differ by more than 20% from the financial results of the previous corresponding
period or from a profit forecast previously provided to the market in relation to such a period.
Shareholders are advised that ArcelorMittal South Africa is finalising its reviewed condensed
consolidated financial statements for the six months ended 30 June 2017.
It should be noted that the loss per share is expected to increase from 44 cents per share to
a loss within a range of 198 and 207 cents per share (350% and 370% change) when
compared to the prior year. The headline loss per share is also expected to increase from 45
cents per share to a headline loss per share within a range of 143 and 152 cents per share
(218% and 238% change), when compared to the prior year
The higher loss was primarily due to the lower margins. The higher steel prices did not fully
compensate for the higher raw material costs namely coal and iron ore. Operational incidents;
impairments and the strengthening of the rand against the US dollar also negatively impacted
our results.
In order to address these challenges the Company is in the process of exploring several
initiatives, include additional cost cutting interventions, assessing the profitability of various
product lines and the implementation of structural changes in the next 6 months. Further
information will be provided as soon as the necessary investigations and decisions have been
finalised.
The financial information on which this trading statement is based has not been reviewed or
audited by the Company’s external auditors.
The Group’s reviewed condensed consolidated financial statements for the six months ended
30 June 2017 will be released on the Stock Exchange News Service of the JSE on 27 July
2017 with a presentation in Johannesburg on the same day. The presentation will be
available for all stakeholders on the Group’s website at www.arcelormittalsa.com
Vanderbijlpark
20 July 2017
For further information please contact:
Hennie Vermeulen: Group Manager: Corporate Communications
Tel: (016) 889 2352
Sponsor to ArcelorMittal South Africa Limited
Absa Bank Limited (acting through its Corporate and Investment Banking division)
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