The segment recorded an operating profit of €125m, compared with operating loss of €139m for Q3 2013.
This marks the third successive quarter ArcelorMittal has reported a profit in Europe, following six successive quarters of losses as a result of the impact of the global financial crisis and the severe downturn in demand for steel in Europe.
As a result of the seasonal slowdown and the impact of a weaker Euro, third quarter 2014 Ebitda decreased by 21.7%, to €394m compared with €503m in the previous three months, However Q3 Ebitda was 72.8% higher than in the same quarter last year (€228m) reflecting the improved market conditions, lower costs and the resulting improved steel margins.
Steel shipments in Q3 2014 were 9.8 million tonnes, a decrease of 3.6% compared with the previous quarter, while year-on-year shipments for this quarter rose 6.2% from 9.3 million tonnes. This year-on-year improvement during the seasonally slower quarter highlights the underlying improvement in ArcelorMittal Europe’s performance in 2014.