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2016-11-08

ArcelorMittal S.A.: ArcelorMittal Europe reports €371m operating profit for Q3 2016

ArcelorMittal S.A. / ArcelorMittal Europe reports €371m operating profit for
Q3 2016. Processed and transmitted by Nasdaq Corporate Solutions. The issuer
is solely responsible for the content of this announcement.
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8 November 2016

ArcelorMittal Europe has reported its third quarter 2016 results, with a €371m
operating profit for the three months to 30 September 2016 - higher than
the €340m operating profit reported in the second quarter of 2016.

Year-on-year, operating profit has risen significantly, albeit from a very low
base; ArcelorMittal Europe reported an operating loss of €23m in the third
quarter of 2015, when European steel prices were under strong downward
pressure from record levels of imports.

A year-on-year Ebitda comparison shows a 29.4% rise to €642m, compared with Q3
2015, primarily on account of lower costs and efficiency improvements, offset
in part by lower steel volumes (-2.7%) and lower average steel selling prices
(-3.3%).

In terms of steel production, ArcelorMittal Europe's crude steel production
decreased by 1.4% to 10.6 million tonnes in Q3 2016, compared with 10.7
million tonnes in Q2 2016 as a result of seasonal planned stoppages.

Commenting on the results, Aditya Mittal, CEO of ArcelorMittal Europe, said:
"Today's results from ArcelorMittal Europe reflect the usual seasonal slowdown
in production and shipments, but also the improved pricing environment and
the impact of measures to make the business more efficient. Operating profit
has improved 8.9% in the past three months and is also positive year-on-year.

We remain concerned about unfair trade. We have seen some positive trade case
rulings this year but a comprehensive solution is required across all product
categories, to prevent anti-competitive behaviour in the European market."

Ends

About ArcelorMittal

ArcelorMittal is the world's leading steel and mining company, with a presence
in 60 countries and an industrial footprint in 19 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 people use in their 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 2015, ArcelorMittal had revenues of US$63.6 billion and crude steel
production of 92.5 million tonnes, while own iron ore production reached 62.8
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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| Contact information ArcelorMittal Investor Relations |
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| Europe +35247923198 |
| Americas +13128993985 |
| Retail +35247923198 |
| SRI +442075431156 |
| Bonds/Credit +33171921026 |
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| Contact information ArcelorMittal Corporate Communications |
| E-mail: press@arcelormittal.com |
| Phone: +442076297988 |
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| ArcelorMittal Corporate Communications |
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| Sophie Evans +442032142882 |
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|Paul Weigh +442032142419 |
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| France |
| Image 7 |
| Sylvie Dumaine / Anne-Charlotte Creach +33153707470 |
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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ArcelorMittal S.A. via Globenewswire

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