ArcelorMittal


A sound FY18, with some (usual) uncertainties going forward

11/02/19 -"We have not materially changed our forecasts (other than capex assumptions going forward). The FY18 higher EPS stems from deferred tax (implying a total negative tax) and FX losses which were much ..."

Pages
57
Language
English
Published on
11/02/19
You may also be interested by these reports :
21/02/19
We have revised our forecasts downwards for the current year and next, after the FY18 results presentation. On the back of a tougher context in ...

21/02/19
2018 results largely benefited from extraordinary coal earnings – which were driven by a combination of (unsustainable) price tailwinds and ...

21/02/19
We have fine-tuned our estimates after the FY18 results and quite a positive Q4, on the back of the stronger performance in EAMEA. This said, our ...

21/02/19
We have revised our earnings forecasts a tick down after the release of FY18 results. Of course, the volatility of prices makes it very difficult at ...

EXECUTIVE SUMMARY

Updates Pension Risks
Target & Opinion Governance & Management
Business & Trends Graphics : Momentum
Money Making Graphics : MACD & Volumes
Debt Graphics : Sensitivities
Valuation Sector: Performance
DCF Sector: Key data
NAV/SOTP Sector: Ratios & Valorisation
Worth knowing Sector: Peers
Financials Sector: Analysis

CONFLICTS OF INTEREST

AlphaValue does not have nor seek any business with companies covered in AlphaValue Research paid by subscription. As a result, investors can be confident that there is no conflict of interest that could affect the objectivity of AlphaValue Research.

Corporate broking NO
Trading in corporate shares NO
Analyst ownership NO
Advising of corporate (strategy, marketing, debt, etc) NO
Research paid for by corporate NO
Provision of corporate access paid for by corporate NO
Link between and a banking entity NO
Brokerage activity at AlphaValue NO