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ARCELORMITTAL SOUTH AFRICA LIMITED - ACL - Unaudited operational information for the quarter ended 31 March 2019

Release Date: 09/05/2019 07:05
Code(s): ACL     PDF:  
 
Wrap Text
ACL - Unaudited operational information for the quarter ended 31 March 2019

ArcelorMittal South Africa Limited
(“ArcelorMittal South Africa”, “the company” or “the group”)
Registration number: 1989/002164/06
Share code: ACL
ISIN: ZAE 000134961

Unaudited operational information for the quarter ended 31 March 2019

Salient features
-    Lost time injury frequency rate (LTIFR) improved from 0.66 to 0.29
-    Domestic demand remains weak
-    Liquid steel production remains flat
-    Local sales down 5%
-    Export sales down 23%
-    Volatility in the rand/US dollar exchange rate continues to impact the business

The analysis relates to the three months ended 31 March 2019 (current period) compared to the three months ended
31 March 2018 (prior period) except where otherwise indicated.

Operational information
                                                                    For the quarter ended
                                                               31-March         31-March           %
                                                                    2019             2018    change


    Liquid Steel production                                        1 279            1 270       0.7%


    Capacity utilisation                                               80               85     -5.9%


    Steel sales
    - Local                                 000 tons                 796              838      -5.0%
    - Export                                000 tons                 253              329     -23.1%
    - Total                                 000 tons               1 049            1 167     -10.1%


    Coke and Chemicals
    - Commercial coke produced              000 tons                   31               45    -28.9%
    - Commercial coke and tar sales         000 tons                   41               67    -38.8%



Safety

Safety remains our number one priority. LTIFR improved from 0.66 to 0.29, while total injury frequency rate
increased to 6.95 from 6.68.

Production

Liquid steel production was 9 000 tonnes (0.7%) higher, mainly due to higher production at Long Products after
the restart of the Vaal Melt shop. The capacity utilisation for Q1 2019 decreased to 80% compared to 85% in
the comparable period as a result of the restart of the Vaal Melt shop.

Sales

Domestic sales volumes decreased by 5%, negatively affected by a weaker economy, the consequent shrinking
of apparent steel consumption by 1.4%, and a short burst of imports as customers took advantage of the sudden
price drops seen in international markets in Q4 2018. Export sales shows a drop of 23.1%, due to both a very
buoyant global market in Q1 2018 and a more cautious seaborne market in Q1 2019 following the sudden price
drops of Q4 2018.

Commercial coke

Commercial coke and tar sales were 26 000 tonnes (38.8%) lower due to higher imports into the country together
with an increase in internal consumption.

By order of the Board
07 May 2019

For further information please contact:
Vuyo Mtawa: Manager: Corporate Communications
Tel: (016) 889 4100

This report is available on ArcelorMittal South Africa’s website at: http://www.arcelormittalsa.com

Release date: 9 May 2019

Sponsor: Absa Bank Limited (acting through its Corporate and Investment Banking division)

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