ArcelorMittal today announces the publication of sell-side analysts’ consensus forecasts for ArcelorMittal’s first quarter 2014 Ebitda.

The consensus figures are based on sell-side analyst estimates recorded on an external web-based tool provided and managed by an independent company called Vuma Financial Services Limited (trade name: Vuma Consensus). 

To arrive at the consensus figures below, VUMA have aggregated the expectations of sell-side analysts who, to the best of our knowledge, cover ArcelorMittal on a continuous basis. This is a group of around 30 brokers currently. The listed analysts follow ArcelorMittal on their own initiative and ArcelorMittal is not responsible for their views.

On this page we provide the analyst estimates compiled by Vuma Consensus. ArcelorMittal is neither involved in the collection of the information nor in the compilation of the estimates.

Ebitda consensus estimates


Number of sell-side
analysts participating

Ebitda consensus average
$ million

Q1 2014E



The consensus data is based on projections made by sell-side analysts. The sell-side analysts who cover ArcelorMittal and whose estimates are included in the group consensus outlined above are the following:

  • ABN Amro - Philip Ngotho
  • Banco Sabadell - Francisco Rodriguez
  • Bank of America Merrill Lynch - Jason Fairclough, Stephanie Bothwell
  • BEKA Finance - Iñigo Recio Pascual
  • Citi - Michael Flitton
  • Commerzbank - Ingo-Martin Schachel
  • Cowen and Company - Tony Rizzuto
  • Credit Suisse - Michael Shillaker
  • Deutsche Bank - Bastian Synagowitz
  • Espirto Santo – Rui Das
  • Exane BNP Paribas - Luc Pez
  • Grupo Santander - Robert Jackson
  • ING Financial Markets - Jaap Kuin
  • Jefferies Innternational– Seth Johnson; Susy Barnato
  • JP Morgan – Alessandro Abate
  • Kepler Chevereux - Rochus Brauneiser
  • Macquarie - Jeff Largey
  • Petercam –Junior Cuigniez
  • Rabobank Securities- Frank Claassen
  • RBC Capital Markets - Tim Huff
  • UBS – Carsten Riek

ArcelorMittal also announces today details of new reporting segments, following the changes to the company’s organisational structure which took effect on 1 January 2014. The changes are only related to the allocation between the new reporting segments of NAFTA, Brazil (Brazil and neighbouring countries), Europe and ACIS. There are no changes to the Mining segment and group total.

The segmentation analysis to be presented in the company’s first quarter earnings release on 9 May 2014 will follow the new organisational structure, alongside historic data that has been recast in the new format.


The consensus estimate is based on estimates, forecasts and predictions made by third party financial analysts. It is not prepared based on information provided or checked by ArcelorMittal and can only be seen as a consensus view on ArcelorMittal's results from an outside perspective. ArcelorMittal has not provided input on these forecasts, except by referring to past publicly disclosed information. ArcelorMittal does not accept any responsibility for the quality or accuracy of any individual forecast or estimate. This web page may contain forward-looking statements based on current assumptions and forecasts made by ArcelorMittal or third parties. Various known and unknown risks, uncertainties and other factors could lead to material differences between ArcelorMittal's actual future results, financial situation, development or performance, and the estimates given here. These factors include those discussed in ArcelorMittal's periodic reports available on

About ArcelorMittal

ArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and primary steelmaking facilities in 16 countries. In 2022, ArcelorMittal had revenues of $79.8 billion and crude steel production of 59.0 million metric tonnes, while iron ore production reached 45.3 million metric tonnes. Our purpose is to produce ever smarter steels that have a positive benefit for people and planet. Steels made using innovative processes which use less energy, emit significantly less carbon and reduce costs. Steels that are cleaner, stronger and reusable. Steels for electric vehicles and renewable energy infrastructure that will support societies as they transform through this century. With steel at our core, our inventive people and an entrepreneurial culture at heart, we will support the world in making that change. This is what we believe it takes to be the steel company of the future. ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS). For more information about ArcelorMittal please visit:
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