Arcelor Mittal Kryviy Rih Sales Grow 30.6% yoy in 2007
1 February 2008
According to Interfax, Arcelor Mittal Kryviy Rih (KSTL: SELL) increased its sales 30.6% yoy to USD 3.47 bln in 2007. A company representative said that in 2008 the steel mill is targeting a 15% yoy sales increase and investments of USD 108 mln into capital repairs (vs. USD 436 mln in 2007). Andriy Gerus: Reported sales are 9% below our forecast of USD 9.83 mln. We think the company is overvalued by the market and reiterate our SELL recommendation.
