ArcelorMittal reported its Q1 2008 earnings today achieving $157/ton of EBITDA for the quarter, the same rate as Q4 2007. You can compare the EBITDA result against a number of other steel producers on the Nerds of Steel earnings spreadsheet. Or you can see the full set of company reports including video and audio of the webcast on the ArcelorMittal site.
A senior steel industry manager who had just been offered a promotion to head office was reflecting on his choice. Looking for guidance, he asked a colleague for advice. ‘Just add value,’ was the terse reply. His implication of course was that corporate ‘overhead’ usually doesn’t. His deeper implication was that real value is only added in the operating units. In the new world of the steel industry, that bias could be costing steel companies growth and performance.
Steel industry employees have long been suspicious of corporate headquarters - with good reason.
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