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ArcelorMittal South Africa Ltd (ACLJ.J)

ACLJ.J on Johannesburg Stock Exchange

316.00ZAc
21 Sep 2018
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Latest Key Developments (Source: Significant Developments)

Arcelormittal South Africa Says CFO Dean Subramanian Resigns
Wednesday, 1 Aug 2018 

Aug 1 (Reuters) - ArcelorMittal South Africa Ltd ::APPOINTMENT OF INTERIM CHIEF FINANCIAL OFFICER.RESIGNATION OF DEAN SUBRAMANIAN AS CFO AND EXECUTIVE DIRECTOR OF COMPANY WITH EFFECT FROM JULY 31, 2018.RECRUITMENT PROCESS FOR A CFO IS WELL ADVANCED.GERHARD VAN ZYL, CURRENTLY A SENIOR MANAGER IN FINANCE FUNCTION, WILL ACT AS CFO UNTIL NEW CFO IS APPOINTED.  Full Article

ArcelorMittal South Africa HY HEPS 5 Cents, Rev Up 19.4 Pct
Wednesday, 1 Aug 2018 

Aug 1 (Reuters) - ArcelorMittal South Africa Ltd ::DISPOSAL OF INVESTMENT IN MACSTEEL INTERNATIONAL HOLDINGS BV (MIHBV) PROGRESSING WELL.HIGHER INTERNATIONAL STEEL PRICES IN HY.HY RESULTS NEGATIVELY IMPACTED BY STRENGTHENING OF AVERAGE RAND/US DOLLAR EXCHANGE RATE.HY LIQUID STEEL PRODUCTION FOR YEAR WAS 2.6 MILLION TONNES, AN INCREASE OF 185 000 TONNES (7.8PCT).ARCELORMITTAL SOUTH AFRICA LTD HY HEPS 5 CENTS.HY REVENUE INCREASED BY 19.4 PCT TO R22 868 MILLION.ARCELORMITTAL SOUTH AFRICA LTD HY LOSS PER SHARE 147 CENTS.HY CASH COST PER TONNE OF LIQUID STEEL PRODUCED DECREASED BY 6PCT TO R7396.IN H2, DOMESTIC STEEL DEMAND AND EXPORTS ARE EXPECTED TO REMAIN STABLE APART FROM SEASONAL SLOWDOWN DURING DECEMBER.IN H2, SALES PRICES ARE EXPECTED TO REMAIN STABLE.HIGHER SALES VOLUMES OF 10.2PCT IN HY.LOWER RAW MATERIAL COST WAS MAINLY DRIVEN BY LOWER IRON ORE AND COKING COAL PRICES IN HY.NO DIVIDENDS WERE DECLARED FOR SIX MONTHS ENDED 30 JUNE 2018.  Full Article

Arcelormittal South Africa's Expects To Report HY HEPS Between 1 And 9 Cents
Thursday, 19 Jul 2018 

July 19 (Reuters) - ArcelorMittal South Africa Ltd ::ARCELORMITTAL SOUTH AFRICA - HY LOSS PER SHARE IS EXPECTED TO DECREASE FROM 203 CENTS PER SHARE TO A LOSS WITHIN A RANGE OF 142 AND 152 CENTS PER SHARE.ARCELORMITTAL SOUTH AFRICA LTD - HY HEPS EXPECTED TO DECREASE FROM 148 CENTS PER SHARE TO A HEADLINE PROFIT PER SHARE WITHIN RANGE OF 1 AND 9 CENTS.  Full Article

ArcelorMittal South Africa Posts Q1 Liquid Steel Production Of 1,270 KT
Friday, 11 May 2018 

May 11 (Reuters) - ArcelorMittal South Africa Ltd ::Q1 LOCAL SALES DOWN 2%.Q1 LIQUID STEEL PRODUCTION 1,270 KT VERSUS 1,199 KT YEAR AGO.Q1 EXPORT SALES UP 33%.Q2 LOCAL SALES WILL CONTINUE TO BE UNDER PRESSURE DUE TO TOUGH TRADING CONDITIONS.IN Q2 EXPECT FLAT PRODUCT VOLUMES WILL INCREASE FOLLOWING POTENTIAL UPSIDE FROM RENEWABLE ENERGY AND OTHER PROJECTS.Q2 EXPORT SALES WILL BE HIGHER DUE TO BETTER INTERNATIONAL PRICES.  Full Article

Arcelormittal South Africa's FY Headline Loss Per Share at 230 Cents
Wednesday, 31 Jan 2018 

Jan 31 (Reuters) - Arcelormittal South Africa Ltd ::FY ‍HEADLINE LOSS DOWN FROM R2 589 MILLION TO R2 518 MILLIO​.FY ‍REVENUE INCREASED 19 PCT FOLLOWING A 15 PCT INCREASE IN AVERAGE NET STEEL PRICES​.‍FY CASH COST PER TONNE OF LIQUID STEEL PRODUCED INCREASED BY 16 PCT FOLLOWING HIGHER INPUT MATERIAL PRICES​.‍POSITIVE EBITDA OF R650 MILLION ACHIEVED IN Q4 2017.FY ‍IMPORTS DECLINED BY 195 000 TONNES IN YEAR​.‍FY APPARENT STEEL CONSUMPTION AT ITS LOWEST LEVEL SINCE 2010 FROM 5,137KT TO 4,801KT​.‍IN 2017 GROUP'S OPERATING LOSS INCREASED BY R128 MILLION OVER PRIOR YEAR​.ARCELORMITTAL - ‍"THROUGHOUT 2017 PRIMARY STEEL PRODUCTS CONTINUED TO FLOW INTO SOUTH AFRICA ALTHOUGH THERE WAS A STEADY AND SUSTAINED DECREASE IN H2"​.ARCELORMITTAL SOUTH AFRICA - "‍GLOBAL STEEL DEMAND HAS SHOWN SOME IMPROVEMENT IN 2017, MAINLY ATTRIBUTED TO POSITIVE MARKET ENVIRONMENT IN DEVELOPED COUNTRIES"​.‍FY COKE AND CHEMICALS' REVENUE GREW BY 2 PCT DESPITE A DECREASE IN COMMERCIAL COKE SALES OF 44 PCT​.‍GROUP'S FY CAPACITY UTILISATION WAS 81 PCT COMPARED TO 78 PCT PREVIOUS YEAR​.‍"ARCELORMITTAL SOUTH AFRICA IS NOT IN A POSITION TO DECLARE DIVIDENDS"​.‍NO DIVIDENDS WERE DECLARED FOR YEAR ENDED 31 DECEMBER 2017​.ARCELORMITTAL SOUTH AFRICA - ‍"IN 2018 DOMESTIC STEEL DEMAND IS LIKELY TO REMAIN CONSTRAINED DUE TO LOW ECONOMIC GROWTH AND A LACK OF INFRASTRUCTURAL SPEND".  Full Article

‍ArcelorMittal South Africa Confirms Payment To Competition Commission​
Monday, 18 Dec 2017 

Dec 18 (Reuters) - Arcelormittal South Africa Ltd ::‍ARCELORMITTAL SOUTH AFRICA CONFIRMS PAYMENT TO COMPETITION COMMISSION​.REACHED AGREEMENT WITH COMMISSION, SUBJECT TO APPROVAL, TO DIVIDE 2017 PAYMENT INTO THREE SEPARATE TRANCHES OF R100 MILLION EACH​.‍REVISED PAYMENT TERMS APPLY ONLY TO FIRST YEAR OF AGREEMENT AND NEXT TWO INSTALMENTS WILL BE MADE ON 1 APRIL 2018 AND 1 JULY 2018​.SET TO PAY AMOUNT OF R1.5 BILLION OVER FIVE YEARS, IN INSTALMENTS OF NO LESS THAN R300 MILLION/ ANNUM. FIRST INSTALMENT WAS DUE ON NOV 16.  Full Article

ArcelorMittal South Africa Appoints Hendrik Verster As CEO
Monday, 11 Dec 2017 

Dec 11 (Reuters) - Arcelormittal South Africa Ltd ::ARCELORMITTAL SOUTH AFRICA - ‍APPOINTMENT OF HENDRIK JACOBUS "KOBUS" VERSTER AS CEO AND EXECUTIVE DIRECTOR OF ARCELORMITTAL SOUTH AFRICA, HAS BEEN APPROVED.- VERSTER WILL OFFICIALLY ASSUME POSITION OF CEO AND EXECUTIVE DIRECTOR WITH EFFECT FROM 1 FEBRUARY 2018.‍VERSTER WILL JOIN ARCELORMITTAL SOUTH AFRICA ON 2 JANUARY 2018 AS CEO DESIGNATE.‍VERSTER WILL OFFICIALLY ASSUME POSITION OF CEO AND EXECUTIVE DIRECTOR WITH EFFECT FROM 1 FEBRUARY 2018​.  Full Article

Arcelormittal South Africa says Q3 steel sales of ‍1.07 mln tonnes
Friday, 10 Nov 2017 

Nov 10 (Reuters) - ARCELORMITTAL SOUTH AFRICA LTD ::Q3 LIQUID STEEL PRODUCTION ‍1,240​,000 TONNES VERSUS 1,115,000 TONNES IN Q3 2016.Q3 STEEL SALES ‍1,065​,000 TONNES VERSUS 950,000 TONNES IN Q3 2016.Q3 EXPORT STEEL SALES 202,000 TONNES VERSUS 136,000 TONNES IN Q3 2016.Q3 COMMERCIAL COKE PRODUCED ‍47​,000 TONNES VERSUS 44,000 TONNES IN Q3 2016 .Q3 COMMERCIAL COKE SALES ‍49​,000 TONNES VERSUS 46,000 TONNES IN Q3 2016 .‍LOCAL SALES WILL CONTINUE TO BE UNDER PRESSURE DUE TO TOUGH TRADING CONDITIONS AS A RESULT OF LOWER STEEL DEMAND IN Q4​.SAYS ‍EXPORT SALES WILL ALSO BE HIGHER DUE TO BETTER INTERNATIONAL PRICES IN Q4​.‍VOLATILITY IN RAND/US DOLLAR EXCHANGE RATE WILL CONTINUE TO HAVE AN IMPACT ON CO'S FINANCIAL RESULTS IN Q4​.  Full Article

Arcelormittal South Africa says Wim De Klerk to retire as CEO and executive director​
Tuesday, 24 Oct 2017 

Oct 24 (Reuters) - ARCELORMITTAL SOUTH AFRICA LTD ::‍WIM DE KLERK HAS INFORMED ARCELORMITTAL SOUTH AFRICA BOARD OF HIS WISH TO RETIRE AS CEO AND AN EXECUTIVE DIRECTOR​.‍WIM DE KLERK HAS INFORMED BOARD OF HIS WISH TO RETIRE AS CHIEF EXECUTIVE OFFICER (CEO) AND AN EXECUTIVE DIRECTOR.​.‍BOARD WILL IMMEDIATELY IMPLEMENT A PROCESS TO IDENTIFY A SUITABLE SUCCESSOR​.ARCELORMITTAL SOUTH AFRICA - ‍WIM DE KLERK WILL STEP DOWN AS CEO, EXECUTIVE DIRECTOR OF ARCELORMITTAL SOUTH AFRICA WITH EFFECT FROM 31 JANUARY 2018​.  Full Article

ArcelorMittal South Africa FY headline loss narrows to 244cents/shr
Friday, 10 Feb 2017 

ArcelorMittal South Africa Limited : . Loss from operations decreased from r4 736 million to r1 092 million; . Headline loss reduced from r5 370 million to r2 589 million; . Rights issue decreased net debt and resulted in savings on finance costs . Low gdp growth and lack of infrastructure spend resulted in domestic demand at a seven-year low . Domestic and export markets in which company operates continued to be extremely constrained with minimal growth as a result of import substitution and minimal local investment and infrastructural spend . Encouragingly, post year-end authorities approved designation of south african steel for use in state infrastructural projects. . Global steel markets remained depressed due to a prolonged lack of demand. Many emerging markets experienced flat or negative growth in steel demand. . From china, hot rolled coil (hrc) and other steel products are exported into world markets, especially continent of africa in large quantities. . In year, african markets, normally major consumers of arcelormittal south africa exports, continued to import subsidised chinese steel. . Revenue increased by 5 pct to r32 737 million mainly due to an 8 pct increase in average net realised steel prices, from r6 727 per tonne to r7 282 per tonne partly offset by lower sales volumes . In line with expectations, revenue from coke and chemicals business decreased by 24 pct to r1 374 million.  Full Article