Net loss of ArcelorMittal rose to $1.26 bln over 9 months

​The net loss of ArcelorMittal rose by 9.6 times to $1.26 bln over 9 months.

Diluted loss per share made up $0.70 against the loss of $0.08 in Jan-September 2014. The company’s sales in Jan-September 2015 fell by 18.1% to $49.597 bln. The operational profit fell by 52.5% to $1.17 bln in Jan-September 2015.

In Q3 ArcelorMittal made a net loss of $711 mln while in Q3 2014 it made a profit of $22 mln. Diluted loss per general share made up $0.40 against the profit of $0.01 in Q3 2014. Meanwhile the sales volume in Q3 fell by 22.3% to $15.589 bln. The operational profit made up $20 mln having fallen in annual terms by 47.95 times.

Iron ore extraction in Jan-September 2015 made up 47.3 mln tons against 47.2 mln tons in Jan-September 2014. In Q3 ArcelorMittal extracted 15.4 mln tons of ore, by 2.5% less than in Q3 2014. Crude steel output in Jan-September 2015 rose by 1.14% to 70.8 mln tons, in Q3 fell by 3.3% to 23.1 mln tons.

ArcelorMittal explains its weak financial results by the steel price fall and low export prices.