ArcelorMittal Flat Carbon Europe has reported the operation outcome for the fourth quarter and full year of 2012.
The steel giant’s Flat Carbon Europe posted operating loss of 2,212 million Euro for the fourth quarter of 2012, including impairments and restructuring costs but excluding interest and tax costs. The total operating loss for 2012 amounts to 2,855 million Euro.
Compared to the third quarter of 2012, sales in the fourth quarter decreased by 2.8% to €4.7 billion due to lower prices; while for the year as a whole there was a decrease of 5.1% to 21.1 billion Euro.
Mr Robrecht Himpe, the CEO of Flat Carbon Europe and member of the ArcelorMittal Management Committee said domestic steel demand remains weak and the situation is expected to prolong in 2013.
During the last quarter, ArcelorMittal have implemented measures to respond the situation and become more cost competitive.
