'Arcelor Mittal' Reports $43.3 Billion First-Half Revenue

Although the deal joining Mittal Steel and Arcelor SA is yet to be finalized, the two companies on Aug. 2 reported pro forma financials as if the merger had already taken place.

Unaudited numbers show first-half 2006 revenues of $43.3 billion (35.2 billion euros) and EBITDA (operating income plus depreciation) of $6.8 billion. EBITDA as a percentage of revenue was 15.7%.

Net income was $3.1 billion for the first six months of this year.

"Market conditions are expected to remain favorable in the third quarter," the companies said in a jointly released statement. They expected third-quarter pro forma EBITDA for the combined company to be about $3.8 billion to $4.06 billion.

Full-year 2006 pro forma EBIDTA is projected to be between $14.8 billion and $15.4 billion.

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