The consensus figures are based on analyst estimates recorded on an external web-based tool provided and managed by an independent company called Vuma Financial Services Limited (trade name: Vuma Consensus).

To arrive at the consensus figures below, VUMA have aggregated the expectations of sell-side analysts who, to the best of our knowledge, cover ArcelorMittal on a continuous basis. This is a group of around 30 brokers currently. The listed analysts follow ArcelorMittal on their own initiative and ArcelorMittal is not responsible for their views.

On this page we provide you with the analyst estimates compiled by Vuma Consensus. ArcelorMittal is neither involved in the collection of the information nor in the compilation of the estimates.

Ebitda consensus estimates

Period

Number of sell-side
analysts participating

Ebitda consensus average $ million

Q2 2014E

22

$1,851

The consensus data is based on projections made by sell-side analysts. The sell-side analysts who cover ArcelorMittal and whose estimates are included in the group consensus outlined above are the following:

  • Banco Sabadell - Francisco Rodriguez
  • Bank of America Merrill Lynch - Cedar Ekblom
  • BEKA Finance - Iñigo Recio Pascual
  • Citi - Michael Flitton
  • Commerzbank - Ingo-Martin Schachel 
  • Cowen & Company - Tony Rizzuto 
  • Credit Suisse - Michael Shillaker 
  • Deutsche Bank - Bastian Synagowitz
  • Exane BNP Paribas - Luc Pez 
  • Goldman Sachs - Stephen Benson
  • Grupo Santander - Robert Jackson
  • HSBC - Thorsten Zimmerman
  • ING Financial Markets - Jaap Kuin
  • Jefferies International- Seth Rosenfeld; Susy Barnato 
  • JP Morgan - Alessandro Abate
  • Kepler Chevereux - Rochus Brauneiser 
  • Mainfirst - Alexander Haustein
  • Nomura - Sarah Barr
  • Rabobank Securities- Frank Claassen
  • RBC Capital Markets - Tim Huff,  Ioannis Masvoulas
  • Société Générale- Alain Williams
  • UBS - Carsten Riek

Disclaimer
The consensus estimate is based on estimates, forecasts and predictions made by third party financial analysts. It is not prepared based on information provided or checked by ArcelorMittal and can only be seen as a consensus view on ArcelorMittal's results from an outside perspective. ArcelorMittal has not provided input on these forecasts, except by referring to past publicly disclosed information. ArcelorMittal does not accept any responsibility for the quality or accuracy of any individual forecast or estimate. This web page may contain forward-looking statements based on current assumptions and forecasts made by ArcelorMittal or third parties. Various known and unknown risks, uncertainties and other factors could lead to material differences between ArcelorMittal's actual future results, financial situation, development or performance, and the estimates given here. These factors include those discussed in ArcelorMittal's periodic reports available on corporate.arcelormittal.com

About ArcelorMittal

ArcelorMittal is the world's leading steel and mining company, with a presence in more than 60 countries and an industrial footprint in over 20 countries. Guided by a philosophy to produce safe, sustainable steel, we are the leading supplier of quality steel in the major global steel markets including automotive, construction, household appliances and packaging, with world-class research and development and outstanding distribution networks.

Through our core values of sustainability, quality and leadership, we operate responsibly with respect to the health, safety and wellbeing of our employees, contractors and the communities in which we operate.

For us, steel is the fabric of life, as it is at the heart of the modern world from railways to cars and washing machines. We are actively researching and producing steel-based technologies and solutions that make many of the products and components we use in our everyday lives more energy-efficient.

We are one of the world's five largest producers of iron ore and metallurgical coal and our mining business is an essential part of our growth strategy. With a geographically diversified portfolio of iron ore and coal assets, we are strategically positioned to serve our network of steel plants and the external global market. While our steel operations are important customers, our supply to the external market is increasing as we grow.

In 2013, ArcelorMittal had revenues of $79.4 billion and crude steel production of 91.2 million tonnes, while own iron ore production reached 58.4 million tonnes.

ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).

For more information about ArcelorMittal please visit: http://corporate.arcelormittal.com.

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