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ArcelorMittal Q3 2008 results
1) ArcelorMittal reported a 6.6% increase in EBITDA to $8.6 billion for Q3 2008 compared to Q2 2008, supported by its three-dimensional strategy. 2) In response to the current economic environment, ArcelorMittal is increasing planned production cuts to accelerate inventory reduction and increasing its management gains target to $5 billion through additional SG&A savings. 3) Guidance for Q4 2008 EBITDA is provided in the range of $2.5-3 billion, reflecting increased voluntary production cuts. The base dividend is maintained at $1.50 per share for 2009.
