Arcelor 2007 First Quarter Results.LUXEMBOURG -- Regulatory News: The Arcelor board of directors, chaired by Joseph Kinsch, reviewed the consolidated accounts for the first quarter of 2007. After completion of Mittal Steel's offer and mandatory sell out procedure, Arcelor is a subsidiary of Mittal Steel. Mittal Steel is now listed under the name Arcelor Mittal1. The companies are actively working to implement the two mergers as promptly as possible in the course of 2007. For the first quarter of 2007, the Arcelor Group realized revenues of 11.6 billion euros, an EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become of 1.8 billion euros and a net profit, Group share of 1.1 billion euros. Arcelor shares remain listed on the stock exchanges of Paris, Brussels, Luxembourg and on the Spanish stock exchanges of Madrid, Barcelona, Bilbao and Valencia. Consolidated income statement consolidated income statement An income statement that combines the income statements of two or more organizations. As with other consolidated statements, a consolidated income statement eliminates any funds owed to or due from firms within the same group. [TABLE OMITTED] Note: Following the merger of Arcelor and Mittal, whereby Mittal has been identified as the acquiring entity for accounting purposes, the assets and liabilities of Arcelor, included in the consolidation of ArcelorMittal, have been stated at their fair value as of the acquisition date (August 1, 2006) as required by accounting standards. If such values had been pushed down to Arcelor s.a. the results for the three month period ended March 31, 2007 would have been affected as follows: [TABLE OMITTED] Consolidated balance sheet consolidated balance sheet A balance sheet in which assets and liabilities of a parent company and its controlled subsidiaries are combined, thereby presenting balance sheet items for the parent and its subsidiaries as if they were a single firm. [TABLE OMITTED] Consolidated cash flow statement [TABLE OMITTED] 1 Arcelor Mittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MTP (1) (Message Transfer Part) See SS7. (2) (Media Transfer Protocol) A Microsoft enhancement to the picture transfer protocol (PTP), starting with Windows Media Player 10 in Windows XP. ), Brussels (MTBL MTBL Mean Time Between Data Loss ), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid (MTS (1) See Microsoft Transaction Server. (2) (Modular TV System) The stereo channel added to the NTSC standard, which includes the SAP audio channel for special use. 1. MTS - Message Transport System. 2. ) and Valencia. |
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