Arcelor Mittal Reports Third Quarter 2006 Results

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Algemeen advies 06/11/2006 08:27
November 6, 2006 – Luxembourg / London – Mittal Steel Company N.V. (“Arcelor Mittal”, “Mittal Steel” or “the Company”) (New York: MT; Amsterdam: MT; Madrid: MTS; Paris: MTP; Brussels: MTBL; Luxembourg: MT), the world’s largest and most global steel company, today announced results for the three and nine months ended September 30, 2006. Q3 Highlights (on the basis of IFRS, amounts US$ and Euros1): • Strong pro forma results ahead of guidance • Pro forma EBITDA of US$4.4 billion, up 24% over Q2 2006 • Integration progressing as planned • Guidance for the full year confirmed.

(US dollars in millions except earnings per share and shipments data) US Dollars Pro forma results Q3 2006 Q2 2006 9M 2006 Shipments (Million MT)226.929.183.8 Sales 22,06922,43065,373 EBITDA 3 4,354 3,50011,154 Operating income 3,4442,6338,581 Net income 2,1821,8175,602 Basic Earnings Per Share ($) 1.581.314.05 (Euros in millions except earnings per share and shipments data) Euros1Pro forma results Q3 2006 Q2 2006 9M 2006 Shipments (Million MT)226.929.183.8 Sales 17,31217,83752,517 EBITDA 3 3,4152,7838,960 Operating income 2,7022,0946,893 Net income 1,7121,4454,500 Basic Earnings Per Share (€) 1.241.043.25 1) US Dollars have been translated into Euros for convenience using an average exchange rate of (USD/Euro) of 1.2748, 1.2575 and 1.2448 for Q3 2006, Q2 2006 and 9M 2006, respectively.
2) Some intercompany shipments are not eliminated
3) EBITDA is operating income plus depreciation

Commenting, Aditya Mittal, CFO Arcelor Mittal, said: “I am pleased to report a strong performance in Q3 2006 for Arcelor Mittal, with EBITDA above guidance. The anticipated low seasonal volume was offset by a strong rise in steel prices. Meanwhile integration is progressing well, with expected synergies now validated bottom-up. Looking ahead, we are on track to deliver guidance for the full year.”



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