Back losses in the first half of

ArcelorMittal Rodange & Schifflange could increase sales still strong
Steel exports increased from 407 300 tonnes to 426 400 tons
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Photo: Serge Waldbillig
The plant in Lingen ship.

(Rw) - The Luxembourg steel company ArcelorMittal Rodange & Schifflange (AMRS) writes in the first half of the year the red, but the turnover is rising sharply.

In the first six months drove the company a loss of 15.3 million euros, 27 percent more than the previous year (twelve million €). 2010, the Group reported an overall loss of 37.5 million €.

Sales in the first six months but strong again. End of June the company took a € 247.5 million in the first half of 2010, there were only 190.5 million. This represents an increase of 30 percent. The steel exports also increased from 407 300 tonnes to 426 400 tons. But also the raw materials became more expensive.
Demand for construction steel has fallen

The loss before interest, taxes, depreciation and amortization (EBITDA) is in the second half of a total of 5.3 million euros, 86 percent more than last year, when it amounted to € 2.8 million. The company sees but already the first positive results of the strategic plan, adopted in the first quarter.



This allowed the Ebitda of nearly - 5 million (1st Q) - 0.3 million euros (2nd Q) are reduced. In the works Rodange and Schifflingen structural steel and wire is made, the deposit can be due to poor construction only with difficulty.

In the second quarter was the demand for construction steel has fallen again, so in AMRS their release. The demand for the metal-mechanical production for thought, however, rose again.
Reduction of work places

The company is located in a restructuring phase. The two loss-making plants back on profit rate in June, the loss of around 250 of the approximately 800 jobs, it was decided. The job cuts without layoffs but go across the stage.

Personnel costs fell by € 12.3 million in the first trimester to 11.7 million euros in the second. About half of the employees affected by the mining plans in the works will be shifted Differdange and Esch-Belval, whereas the other half in a "cellule de reclassement" comes from.

The company's stock was at 31 October by the Luxembourg Stock Exchange taken. Its venture shares were illiquid, and the effort was not worth more, the company said in its messages,.