Arcelor 2006 Third Quarter Results

Share Name	Share Symbol	Market	Type
Maire Tecnimont SpA	BIT:MT	Italy	Ordinary Share

Maire Tecnimont (BIT:MT)
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LUXEMBOURG, November 6 /PRNewswire-FirstCall/ -- In accordance with the Arcelor Mittal Group accounting policies, the joint ventures are accounted for under the equity method as of 1st January 2006. These accounting policies replace the proportionate method implemented as at 1st January 2006. Consolidated income statement In millions of euros 3rd Quarter 3rd Quarter 9 months 9 months (IFRS) 2005 2006 2005 2006 (restated(i)) (restated(i)) Revenue 7,481 9,787 24,259 29,779 Gross operating income 1,122 1,578 4,505 4,413 (EBITDA) Amortisation and -322 -454 -1,062 -1,216 depreciation 1 12 Negative goodwill Operating income (EBIT) 800 1,125 3,443 3,209 Net financing costs -109 -138 -140 -596 Mergers costs -74 -256 Share of profit in 90 132 255 288 companies accounted for using the equity method Profit (Loss) before 781 1,045 3,558 2,645 tax Income tax -73 -294 -606 -230 Profit (Loss) after tax 708 751 2,952 2,415 Minority Interests -84 -162 -357 -412 Net profit (Loss) Group 624 589 2,595 2,003 share (i) 2005 comparative information restated following the change in accounting policies in 2006 Consolidated balance sheet In millions of 31.12.2005 30.09.2006 euros (IFRS) (restated(ii)) Non current 18,227 24,238 assets - Intangible assets 193 1,552 - Property, plant & equipment 13,767 17,963 - Investment under equity method 1,478 1,820 - Other investments 653 659 - Receivables & other fin. assets 758 795 - Deferred tax assets 1,378 1,449 Current assets 17,720 19,433 - Inventories 7,580 9,553 - Trade 3,716 5,103 receivables - Other 1,779 2,215 receivables - Cash & cash equivalents 4,645 2,562 Total assets 35,947 43,671 (ii) 2005 comparative information restated following the change in accounting policies in 2006 Consolidated balance sheet (continued...) 31.12.2005 30.09.2006 (restated(ii)) Shareholders' equity 14,991 16,275 Minority interests 2,522 2,766 Non current liabilities 8,430 13,051 - Interest bearing 4,341 7,176 liabilities - Employee benefits 1,617 2,730 - Termination benefits 852 779 - Other provisions 943 973 - Deferred tax liabilities 536 1,260 - Other liabilities 141 133 Current liabilities 10,004 11,579 - Trade payables 5,228 5,754 - Interest bearing liabilities 1,623 2,168 - Other amounts payable 2,879 3,402 - Termination benefits 30 34 - Other provisions 244 221 Total shareholders' equity, 35,947 43,671 minority interests and liabilities (ii) 2005 comparative information restated following the change in accounting policies in 2006 Consolidated cash flow statement In millions of euros 30.09.2005 30.09.2006 (IFRS) 9 months 9 months (restated(iii)) Cash flows from 2,911 1,991 operating activities Investing activities Acquisition of assets -1,518 -5,947 - Intangible -21 -16 - Tangible -1,228 -1,583 - Financial -269 -4,348 Disposal of assets 361 272 - Intangible & tangible 47 142 - Financial 388 294 - Proceeds (-) & -74 -164 Repayment of debts towards third party Cash flows from investing activities -1,157 -5,675 Financing activities - Proceeds from the issue of share capital 12 7 - Dividends paid -507 -1,462 - Net servicing of borrowing -1,214 2,835 Cash flow from financing activities -1,709 1,380 Effect of exchange rate fluctuations on cash held and change of method 134 230 Net increase (decrease) in cash and cash equivalents 179 -2,074 Cash and cash equivalents at the beginning of the period 4,043 4,636 Cash and cash equivalents at the end of the period 4,222 2,562 (iii) 2005 comparative information restated following the change in accounting policies in 2006 About Arcelor Arcelor, which is to merge with Mittal Steel following a recommended public tender offer, holds leadership positions in its main markets: automotive, construction, household appliances and packaging as well as general industry. Arcelor is the number one steel producer in Europe and Latin America and holds significant positions allowing it to capture the growth potential of developing economies and offer technologically advanced steel solutions to its global customers. Arcelor employs 110,000 associates in over 60 countries. The company places its commitment to sustainable development at the heart of its strategy and ambitions to be a benchmark for economic performance, labour relations and social responsibility. DATASOURCE: Arcelor Mittal CONTACT: Contact at Arcelor Mittal's Investor Relations: Continental Europe +352-4792-2414; UK/Asia/Africa +44-207-543-1172; Americas +1-312-899-3569; Retail +352-4792-2434; SRI +352-4792-2902. Contact at Arcelor Mittal's Communication: Media Contacts: E-mail: , Phone: +352-4792-5000. Arcelor Mittal Corporate Communications: Nicola Davidson +44-207-543-1162 / 1172; Luc Scheer +352-4792-2360; Jean Lasar: +352-4792-2359; Spain: Ignacio Agreda +34-94-489-4162; Oscar Fleites +34-98-512-60-29; France: Sandra Luneau +33-1-71-92-00-58. Agencies: UK: Philip Gawith / Lydia Pretzlik Maitland Consultancy +44-20-7379-5151; France: Tiphaine Hecketsweiler, Image 7 +33-1-5370-7470. Spain: Keith Grant +34-915-765-250; Brazil: Paolo Andreoli +55-11-31-69-9302. Gustavo Graca - Andreoli Manning Selvage & Lee +55-11-3169-9312. US: Gillian Angstadt Abernathy MacGregor, +1-212-371-5999

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