ArcelorMittal goes out to profit loss of $ 780 million in the quarter

SÃO PAULO-ArcelorMittal made a net loss of $ 780 million in the second quarter of 2013. A year earlier, however, the world's largest steelmaker had net income of $ 1,016 billion. Pressed by lower prices of steel and iron ore, the result disappointed some analysts, who hoped to gain.
In the three months to June, the company earned revenue of $ 20,197 billion, representing a decline of 10.1% on annual basis. Analysts had expected a $ amount together billion.
The earnings before interest, taxes, depreciation and amortization (Ebitda) totaled $ 1.7 billion, in line with the projection of $ 1.71 billion. Compared with the same period of the previous year's exercise, there were 33.6% indentation.
The company, based in Luxembourg, has achieved the goal of bringing the net debt to less than $ 17 billion at the end of June, and the indicator totaled $ 16.2 billion at the end of the period.
ArcelorMittal changed their goals for the year. The company now expects Ebitda above $ 6.5 billion in 2013, instead of $ 7 billion. The change follows the expectation of lower demand than expected and prices of raw materials lower.