No more exam failing with CSWIP cram by killexams.com

We now have valid and upwards currently CSWIP Exam Concerns. killexams.com provides the specific in addition to most recent CSWIP Questions and Answers that will practically contain just about all tricky questions. With all the practice of the CSWIP test dumps, a person Does not have in order to bother about your real CSWIP exam. Simply, a person needs to devote 10-24 hours in order to memorize our CSWIP cram in addition to answers before a person actually face an authentic exam.

CSWIP Certification Scheme for Welding and Inspection Personnel 3.1 PDF download | http://babelouedstory.com/

CSWIP PDF download - Certification Scheme for Welding and Inspection Personnel 3.1 Updated: 2023

When you retain these CSWIP braindumps, you will get 100% marks.
Exam Code: CSWIP Certification Scheme for Welding and Inspection Personnel 3.1 PDF download November 2023 by Killexams.com team

CSWIP Certification Scheme for Welding and Inspection Personnel 3.1

The CSWIP Welding Inspector course is designed for inspection engineers and supervisory staff. Those with little or no previous welding experience are advised to attend the Certificate in Visual Inspection of Welds course to prepare for this course.



Welding Inspector for a minimum of 3 years with experience related to the duties and responsibilities listed in Clause 1.2.2 of CSWIP document WI-6-92, under qualified supervision, independently Verified OR Certified Visual Welding Inspector for a minimum of 2 years with job responsibilities in the areas listed in 1.2.1 and 1.2.2 of CSWIP document WI-6-92 OR Welding Instructor or Welding Foreman/Supervisor for a minimum of one year



Welding Inspector (Level 2)

2.1 Examination format

Theory Part A2: General Welding Theory, Product Technology and NDT

30 multiple choice questions. Time allowed 45 minutes.

Theory Part B2: Specific Welding Technology.

60 multiple choice questions. Time allowed 1hr 30 mins.

Practical Part A2: Inspection of a plate butt weld to a code provided by the Test Centre. Time allowed 1hr 15 mins.

Practical Part B2: Inspection of a pipe butt weld to to a code provided by the Test Centre. Time allowed 1hr 45 mins.

Practical Part C2: Inspection of a set of destructive test samples to a code provided by the Test Centre (two macros, two bends or two fractures). Time allowed 45 mins.

Passmark for all parts is 70%.

2.2 Subjects

Candidates will need to demonstrate a knowledge of the Visual Welding Inspector (Level 1) syllabus plus:

i) Materials

• Size: thicknesses, lengths, diameters

• Type: grade composition against documentation

• Condition: cleanliness and surface for welding

• Heat treatment condition and distortion

The effect of composition, thickness and hydrogen on welding of certain grades of steel. The techniques and control used to avoid hydrogen induced cracking and lamellar tearing.

Post weld heat treatment, its conduct and control.

j) Welding processes

The effect of variations in welding parameters. The influence of process on appearance and penetration, and centreline cracking. British, American and ISO symbols on drawings.

k) Welding procedures and welder approvals and their control

The essential features of a procedure.

British, European, American and other systems of procedure and welder approval and appropriate documentation.

l) Quality control of welding

The implementation of quality controls and inprocess inspection. Organisation and records.

m) Destructive tests

The selection and purpose of all destructive tests specified in standards. Assessment of results.

n) Non-destructive testing

The methods, capabilities and limitations, and assessments of reports related to penetrant, magnetic particle, radiographic and ultrasonic testing of parent materials and welded joints.

o) Weld defects

Identification of defects. Reasons for their occurrence and acceptance.

p) Distortion

The influence of welding techniques on distortion.

The control of distortion. The influence of heat treatment and machining.

q) Reporting

The preparation of technical reports on all aspects of inspection referred to above.

Certification Scheme for Welding and Inspection Personnel 3.1
CSP Certification PDF Download

Other CSP exams

CSWIP Certification Scheme for Welding and Inspection Personnel 3.1

killexams.com provide latest and updated Pass4sure CSWIP practice questions with real CSWIP Test Questions for new syllabus of CSWIP CSWIP Exam. Practice our Real CSWIP Questions to Strengthen your knowledge and pass with High Marks. Pass with no uncertainty with our correct CSWIP questions.
CSP
CSWIP
Certification Scheme for Welding and Inspection Personnel
https://killexams.com/pass4sure/exam-detail/CSWIP
Question: 113
The dip transfer or short-circuiting mode of metal transfer used for MIG/MAG
welding is characterized by:
A. Giving deep penetration
B. Being suitable for positional welding
C. Giving low spatter
D. Giving high deposition
Answer: B
Question: 114
Carbon equivalent values (CEV) are used to determine how to avoid the risk of:
A. Hydrogen cracking
B. Lamellar tearing
C. Solidification cracking
D. Weld decay
Answer: A
Question: 115
Exceeding the maximum interpass temperature specified for a C-Mn steel weld
joint may give:
A. Excessive porosity
B. Burn through
C. Lower toughness
D. Higher strength
Answer: C
Question: 116
Welds made with very high heat input will show a reduction in:
A. Tensile ductility
B. Notch toughness
C. Fatigue strength
D. Creep resistance
Answer: B
Question: 117
Which of the following would be classed as the most serious type of defect?
A. A buried linear slag inclusion
B. Buried lack of inter-run fusion
C. Surface breaking lack of sidewall fusion
D. Surface porosity
Answer: C
Question: 118
A transverse tensile test from a Weld Procedure Approval Record (WPAR) test
plate is used to measure:
A. Tensile strength of the weld
B. Tensile strength of the joint
C. Stress/strain characteristics of the weld
D. Stress/strain characteristics of the joint
Answer: B
Question: 119
For gammer radiography of a steel weld at 35mm thickness, the recommended
isotope is:
A. Thulium 170
B. Ytterbium 169
C. Iridium 192
D. Cobalt 60
Answer: C
Question: 220
Which element has the greatest effect on the HAZ hardness of C-Mn steel?
A. Molybdenum
B. Chromium
C. Titanium
D. Carbon
Answer: D
Question: 221
With reference to the various grades of stainless steels which of the following
statements is true?
A. They are all non-magnetic
B. They all require 100% Ar for GMAW
C. They all have very high thermal conductivity
D. Only certain grades can be used for service at very low temperatures
Answer: D
Question: 222
BS EN 288 and BS EN ISO 15614 are specifications for?
A. Welder approval testing
B. Welding equipment calibration
C. Welding procedure approval
D. Consumables for submerged arc welding
Answer: C
Question: 223
Repair welding of in-service plant and equipment may be more difficult than
making repairs during initial fabrication because:
A. The material may be contaminated
B. Access to repair area may be difficult
C. Positional welding may be needed
D. All of the above
Answer: D
Question: 224
When MAG welding in dip transfer (a short-circuiting mode) spatter can be
reduced by:
A. Using inductance
B. Using 100%CO2
C. Using Ar +30% He
D. Increasing the stick-out length
Answer: A
For More exams visit https://killexams.com/vendors-exam-list
Kill your test at First Attempt....Guaranteed!

CSP Certification PDF download - BingNews https://killexams.com/pass4sure/exam-detail/CSWIP Search results CSP Certification PDF download - BingNews https://killexams.com/pass4sure/exam-detail/CSWIP https://killexams.com/exam_list/CSP 5 Best Websites To download PDF Books For Free No result found, try new keyword!With the rise of technology, readers now can download PDF books for free from various websites. These platforms provide a vast collection of books across different genres, making it convenient for ... Tue, 10 Oct 2023 01:11:00 -0500 en-US text/html https://www.outlookindia.com/outlook-spotlight/5-best-websites-to-download-pdf-books-for-free-news-323685 IGNOU Previous Year Question Papers: download PDF

IGNOU Previous Year Question Papers: Get the direct IGNOU TEE previous year papers PDF download link on this page. Get the direct download link of BA, B.Com, B.Sc, B.Ed, M.Sc, MBA, Diploma and Certificate Courses

IGNOU TEE Previous Year Paper

IGNOU TEE Previous Year Question Paper is one of the best resources to prepare effectively for the exam. Candidates aspiring for the upcoming test must download and solve the IGNOU TEE Previous Year Question Paper regularly. It provides valuable details about the test structure, maximum marks, and Topics asked in the exam. 

There are various advantages of practicing IGNOU TEE previous year question papers during the preparation of the term-end examination of different courses. It helps them to establish a strategy based on the latest trends and test requirements. The IGNOU TEE previous year's question paper is announced within a few weeks after successfully conducting the exam. 

The test prep team of Jagran Josh has compiled the IGNOU TEE previous year question papers for on this page. This will assist them to recognize their mistakes and boost their preparation level accordingly.

Shiv Khera

IGNOU TEE Previous Year Question Papers PDF

Candidates should practice the IGNOU TEE previous year's question paper pdf to get insights into the type of questions along with the weightage asked in the test over the past year of different courses. Also, they should practice IGNOU TEE previous year question paper to know the areas that require improvements and prepare accordingly.

IGNOU TEE test Previous Year Question Paper PDF

Candidates should download and solve the IGNOU TEE previous year's question papers PDF to gauge their preparation. By analyzing their performance in the previous papers, they can Strengthen their speed, accuracy, and overall time management. Get the direct download link of IGNOU TEE previous year question papers PDF for  2010, to 2022 given below:

Benefits of Solving IGNOU Previous Year Question Papers

There are numerous benefits of practicing IGNOU TEE previous year question papers as listed below:

  • Candidates should solve IGNOU TEE previous year question paper regularly to maximize their passing chances in the exam.
  • Practicing previous year papers will boost their speed of solving questions and accuracy in the exam.
  • Solving IGNOU TEE question papers will help them to cover all the aspects of the exam.
  • Attempting IGNOU TEE previous year question papers with solutions PDF will help them know the nature of questions along with the weightage in the exam.

How to Attempt IGNOU TEE Previous Year Question Paper?

Candidates must solve IGNOU TEE previous year question paper correctly to understand the real test pressure and prepare in the right direction:

  • Go through the IGNOU TEE previous year question paper carefully and then start solving questions.
  • Place a countdown clock to attempt the test papers in a real-time environment.
  • Attempt easy and less time-consuming questions first, then solve the lengthy ones in the IGNOU TEE previous year's question papers.
  • Once the countdown stops, one must not solve any questions and tally their answers with the provisional key to get an idea of their performance and rectify their errors.

IGNOU TEE December 2023 Hall Ticket

IGNOU 2023 June TEE hall ticket has been released on their official website. Candidates can enter their enrollment number and choose the relevant programme to obtain their IGNOU hall ticket. It is required candidates bring their IGNOU hall ticket 2023 and other identification with them on test day.

FAQ

How to download IGNOU TEE Previous Year Question Papers PDF?

To download the IGNOU TEE previous year question paper PDF, you must visit the official portal or click on the IGNOU TEE previous year paper PDF link shared on the page.

Is it necessary to solve the IGNOU TEE Previous Year Question Paper PDF?

Yes. Solving the IGNOU TEE previous year question paper will provide insights into the question format, weightage of questions, and Topics asked in the exam.

Thu, 09 Nov 2023 20:55:00 -0600 text/html https://www.jagranjosh.com/articles/ignou-previous-year-question-paper-pdf-download-1699610941-1
Certification Procedures


Course Measurement and Certification Procedures

Expiration/Renewal Policy

Because courses degrade over time, the USATF Road Running Technical Council decided in 1992 that all certifications would expire automatically 10 years after the year of issue. Initially, expired courses could be renewed upon testimony that the course was still in use and had not been altered. Then, in 2000, RRTC decided that such testimony is not adequate to overcome the uncertainty that inevitably creeps into every course; therefore, all courses must simply expire after 10 years, without any possibility of renewal.

The non-renewable policy adopted in 2000 was phased in over a 10-year period. That period ended at the end of 2011. All courses that were renewed at any time have expired. Expired courses are no longer renewable, but they must be re-measured in order to be recertified.

Sat, 16 Nov 2019 08:18:00 -0600 text/html https://www.usatf.org/resources/course-certification/certification-procedures
UPSC Management Optional Syllabus: PDF Download

UPSC Management Syllabus: download the UPSC CSE Management Syllabus PDF, check the topic-wise Management Optional Syllabus for Papers 1 & 2 along with the best strategy and books

UPSC Management Optional Syllabus: Management is one of the 48 optional subjects in the civil service mains exam. The Management Syllabus for UPSC provides information about operational management concepts, which can be helpful for the aspiring manager. With this, many candidates pick management as their optional subject because various books and resources are available to cover the UPSC Management Optional Syllabus.

Going by the previous 5 years' statistics, approximately 40-60 candidates choose Management as optional subjects and the success rate hovers around 13%.  It is recommended to keep the printed copy of the Management Syllabus for UPSC  handy when preparing for the upcoming IAS exam. As per the feedback of previous toppers, the questions asked in the UPSC Management optional subjects are usually moderate level.

Shiv Khera

In this article, we shared the UPSC Management Syllabus PDF for Mains, along with question weightage, preparation tips, and best books.

UPSC Management Syllabus PDF

The UPSC Management optional syllabus comprises two papers, i.e., Paper 1 and Paper 2. The UPSC Management optional subject carries 500 marks, and each paper carries 250 marks. Thus, it is essential to adhere to the latest UPSC Management Syllabus PDF for Papers 1 and 2 and cover all the exam-relevant topics.  download the topic-wise UPSC Management Syllabus PDF for papers 1 and 2 shared below.

UPSC Management Optional Syllabus For IAS Mains

The UPSC Management Optional Syllabus is divided into two papers, i.e., Paper 1 and Paper 2.  It is recommended that the aspirants prepare a  study of the concept of management development as science and art, drawing upon the contributions of leading management thinkers and applying the concepts to the real life of government and business decision-making, keeping in view the changes in the strategic and operative environment. They should be well-acquainted with the topic-wise UPSC Management syllabus for main optional papers 1 and 2 and reshape their strategy accordingly.

UPSC Management Syllabus for Paper 1

The UPSC Management Paper I syllabus covers Topics like Managerial Function and Process, Organisational Behaviour and Design, Human Resource Management, Accounting for Managers, Financial Management, Marketing Management, etc.  Check the topic-wise UPSC Management Optional Syllabus for Paper I below.

  1. Managerial Function and Process: Concept and foundations of management, Evolution of Management Thoughts; Managerial Functions— Planning, Organizing, Controlling; Decision-making; Role of Manager, Managerial skills; Entrepreneurship; Management of innovation; Managing in a global environment, Flexible Systems Management; Social responsibility and managerial ethics; Process and customer orientation; Managerial processes on direct and indirect value chain.
  2. Organisational Behaviour and Design: Conceptual model of organization behaviour; The individual processes—personality, values and attitude, perception, motivation, learning and reinforcement, work stress and stress management; The dynamics of Organization behaviour—power and politics, conflict and negotiation, leadership process and styles, communication; The Organizational Processes—decision-making, job design; Classical, Neoclassical and Contingency approaches to organizational design; Organizational theory and design—Organizational culture, managing cultural diversity, learning Organization; Organizational change and development; Knowledge-Based Enterprise—systems and processes; Networked and virtual organizations.
  3. Human Resource Management: HR challenges; HRM functions; The future challenges of HRM; Strategic Management of human resources; Human resource planning; Job analysis; Job evaluation, Recruitment and selection; Training and development; Promotion and transfer; Performance management; Compensation management and benefits; Employee morale and productivity; Management of Organizational climate and Industrial relations; Human resources accounting and audit; Human resource information system; International human resource management.
  4. Accounting for Managers: Financial accounting—concept, importance and scope, generally accepted accounting principles, preparation of financial statements with special reference to the analysis of a balance sheet and measurement of business income, inventory valuation and depreciation, financial statement analysis, fund flow analysis, the statement of cash flows; Management accounting concept, need, importance and scope; Cost accounting— records and processes, cost ledger and control accounts, reconciliation and integration between financial and cost accounts; Overhead cost and control, Job and process costing, Budget and budgetary control, Performance budgeting, Zero-base budgeting, relevant costing and costing for decision-making, standard costing and variance analysis, marginal costing and absorption costing.
  5. Financial Management: Goal of Finance Function. Concepts of value and return. Valuation of bonds and Shares; Management of working capital: Estimation and Financing; Management of cash, receivables, inventory and current liabilities; Cost of capital ; Capital budgeting; Financial and operating leverage; Design of capital structure: theories and practices; Shareholder value creation: dividend policy, corporate financial policy and strategy, management of corporate distress and restructuring strategy; Capital and money markets: institutions and instruments; Leasing hire purchase and venture capital; Regulation of capital market; Risk and return: portfolio theory; CAPM; APT; Financial derivatives: option, futures, swap; exact reforms in financial sector.
  6. Marketing Management: Concept, evolution and scope; Marketing strategy formulation and components of the marketing plan; Segmenting and targeting the market; Positioning and differentiating the market offering; Analyzing competition; Analyzing consumer markets; Industrial buyer behaviour; Market research; Product strategy; Pricing strategies; Designing and managing Marketing channels; Integrated marketing communications; Building customer satisfaction, Value and retention; Services and non-profit marketing; Ethics in marketing; Consumer protection; Internet marketing; Retail management; Customer relationship management; Concept of holistic marketing.

UPSC Management Syllabus for Paper 2

The UPSC Management Paper II Syllabus focuses on Topics like Quantitative Techniques in Decision-making, Production and Operations Management, Management Information Systems, Government Business Interface,  Strategic Cost Management, and International Business. Check the topic-wise UPSC Management Optional Syllabus PDF for Paper II below.

  1. Quantitative Techniques in Decision-making: Descriptive statistics—tabular, graphical and numerical methods, introduction to probability, discrete and continuous probability distributions, inferential statistics-sampling distributions, central limit theorem, hypothesis testing for differences between means and proportions, inference about population variances, Chi-square and ANOVA, simple correlation and regression, time series and forecasting, decision theory, index numbers; Linear programming—problem formulation, simplex method and graphical solution, sensitivity analysis.
  2. Production and Operations Management: Fundamentals of operations management; Organizing for production; Aggregate production planning, capacity planning, plant design: process planning, plant size and scale of operations, Management of facilities; Line balancing; Equipment replacement and maintenance; Production control; Supply, chain management—vendor evaluation and audit; Quality management; Statistical process control, Six Sigma; Flexibility and agility in manufacturing systems; World class manufacturing; Project management concepts, R&D management, Management of service operations; Role and importance of materials management, value analysis, make or buy decision; Inventory control, MRP; Waste management.
  3. Management Information System: Conceptual foundations of information systems; Information theory; Information resource management; Types of Information Systems; Systems Development—Overview of Systems and Design; System Development management life-cycle, Designing online and distributed environments; Implementation and control of project; Trends in information technology; Managing data resources—Organising data. DSS and RDBMS; Enterprise Resource Planning (ERP), Expert systems, e-Business architecture, e-Governance; Information systems planning, Flexibility in information systems; User involvement; Evaluation of information systems.
  4. Government Business Interface: State participation in business, Interaction between Government, Business and different Chambers of Commerce and Industry in India; Government’s ploicy with regard to Small Scale Industries; Government clearances for establishing a new enterprise; Public Distribution System; Government control over price and distribution; Consumer Protection Act (CPA) and The Role of Voluntary Organizations in protecting consumers’ rights; New Industrial Policy of the Government : liberalization, deregulation and privatisation; Indian planning system; Government policy concerning development of Backward areas/regions; The Responsibilities of the business as well as the Government to protect the environment; Corporate Governance; Cyber Laws.
  5. Strategic Cost Management: Business policy as a field of study; Nature and scope of strategic management, Strategic intent, vision, objectives and policies; Process of strategic planning and implementation; Environmental analysis and internal analysis; SWOT analysis; Tools and techniques for strategic analysis—Impact matrix: The experience curve, BCG matrix, GEC mode, Industry analysis, Concept of value chain; Strategic profile of a firm; Framework for analysing competition; Competitive advantage of a firm; Generic competitive strategies; Growth strategies—expansion, integration and diversification; Concept of core competence, Strategic flexibility; Reinventing strategy; Strategy and structure; chief Executive and Board; turnaround management; Management of strategic change; Strategic alliances, Mergers and Acquisitions; Strategy and corporate evolution in the Indian context.
  6. International Business: International Business Environment: Changing composition of trade in goods and services; India’s Foreign Trade: Policy and trends; Financing of International trade; Regional Economic Cooperation; FTAs; Internationalisation of service firms; International production; Operation Management in International companies; International Taxation; Global competitiveness and technological developments; Global EBusiness; Designing global organisational structure and control; Multicultural management; Global business strategy; Global marketing strategies; Export Management; Export-Import procedures; Joint Ventures; Foreign Investment: Foreign direct investment and foreign portfolio investment; Cross-border Mergers and Acquisitions; Foreign Exchange Risk Exposure Management; World Financial Markets and International Banking; External Debt Management; Country Risk Analysis.

How to Prepare the UPSC Management Syllabus 2023?

Candidates should analyse the UPSC Management syllabus thoroughly before starting the test preparation. This will allow them to cover the basic concepts and advanced Topics relevant to the exam. Additionally, aspirants can follow the tips and tricks shared below to prepare for the upcoming UPSC IAS test adequately.

  • Check the UPSC Management optional syllabus thoroughly and prepare the list of Topics for the preparation accordingly.
  • Ensure to have books and study resources that cover all the Topics in a simple and lucid manner.
  • Solve UPSC Management's previous year's question paper to get an idea of the pattern and Topics usually asked in the IAS main exam.
  • Practice answer writing regularly after completing 50-60% of the Management syllabus for UPSC to score well in the exam.

Booklist for UPSC Management Optional Syllabus

Candidates should choose the highly recommended books to prepare well for the UPSC Management optional subject. This will strengthen their basics and help them learn the advanced Topics without confusion. The right books will cover all the exam-relevant Topics prescribed in the UPSC Management Optional Syllabus. Here are the best UPSC Management Optional books for Paper 1 and Paper 2 below for the reference of the candidates.

  • Cost and Management Accounting by MN Arora
  • Fundamental of Management by DeCenzo, Agarwal, Bhattacharya & Robbins
  • Human Resource Management by K Aswathappa
  • Business Environment by AC Fernando
  • Strategic Management by Hill and Jones
  • Financial Management by Prasanna Chandra
  • Marketing Management by Philip Kotler
  • Operations Management by Heizer and Render

Related Articles,

FAQ

What is the UPSC Management Optional Syllabus?

The UPSC Management Paper I syllabus covers Topics like Managerial Function and Process, Organisational Behaviour and Design, Human Resource Management, Accounting for Managers, Financial Management, Marketing Management, etc. The UPSC Management Paper II Syllabus focuses on Topics like Quantitative Techniques in Decision-making, Production and Operations Management, Management Information Systems, Government Business Interface, Strategic Cost Management, and International Business.

Is the Management Subject for UPSC IAS Mains easy?

Management optional subjects can be a scoring subject if candidates put the right effort into strategy and use the right books. Going by the previous test analysis, the difficulty level of questions asked in the Management subjects was moderate level.

Tue, 07 Nov 2023 17:40:00 -0600 text/html https://www.jagranjosh.com/articles/upsc-management-optional-syllabus-pdf-download-1699427717-1
Download Data: PDF Charts

Select a date to view Charts for the tracks shown below. Tracks and dates not shown are not available. [Help]

Click here to learn more about other Chart products

Daily Racing Form pdf past performances, charts and other handicapping reports require Adobe Reader Version 5.0 or higher.

Track Dates
Aqueduct 16, 12, 11, 10, 09
Charles Town 16, 15, 11, 10, 09
Charleston 12
Churchill Downs 16, 15, 12, 11, 10, 09
Del Mar 12, 11, 10
Delta Downs 16, 15, 11, 10, 09
Evangeline Downs 16, 15, 11, 10, 09
FD Racing 14, 11
Finger Lakes 15, 14, 13
Golden Gate Fields 12, 11, 10
Gulfstream Park 12, 11, 10
Horseshoe Indianapolis 16, 15, 14, 13, 10, 09
Laurel Park 16, 12, 11, 10, 09
Lone Star Park 16, 11, 10, 09
Los Alamitos 12, 11
Mahoning Valley 16, 15, 14, 13, 09
Mountaineer Park 15, 14, 13, 12
Parx Racing 15, 14, 13
Penn National 16, 15, 10, 09
Remington Park 14, 13, 11, 10, 09
Will Rogers Downs 14, 13, 12
Woodbine 16, 12, 11, 10, 09
Zia Park 14, 13, 12, 11

The index page lists next to each track name the days for which detail pages are available at the time you view the index. The index displays the links to those the days in descending chronological order, where the most exact day is listed first.

For example, the partial table row below includes links to past performances at Santa Anita for the 28th, 25th, 24th, and 23rd of March, 2001. To see the complete date of the detail page, place the cursor over one of the days:

Santa Anita 28, 25, 24, 23

The following lists the number of days each index includes:

EasyForm PPs All days from 3 days ago and later days
PDF PPs All days from 6 days ago and later days
Formulator PPs All days from 6 days ago and later days
Workouts All days between 26 days ago and today
Charts All days between 2 days ago and today
Sun, 05 Sep 2021 22:14:00 -0500 text/html https://www1.drf.com/drfPDFCharts.do
Download PDF instead of Previewing in Chrome and Firefox on Windows PC

Both Chrome and Firefox have this default setting where they preview PDFs instead of downloading them. This can be a bit annoying, especially if you want to save them but are in a hurry. Therefore, in this article, we are going to see how to download PDFs instead of previewing them in Chrome and Firefox.

Download PDF instead of Previewing in Chrome

Google Chrome has its own PDF Viewer, so, when you click on a PDF, it will be opened with Chrome’s PDF on the browser itself. Therefore, we need to disable Chrome’s PDF viewer to download PFDs instead of previewing them.

  1. To do that, launch Chrome
  2. Click on the three vertical dots from the top-right corner of the window
  3. Cick Settings.
  4. Now, you need to click Privacy & Security from the left panel
  5. SelectSite Settings from the right panel
  6. Scroll down a bit, and click Additional content settings.
  7. Click PDF documents and enable the toggle of Download PDF files instead of automatically opening them in Chrome.

This way you will be able to download PDFs instead of previewing them in Chrome.

Download PDFs Instead of Previewing Them In Firefox

Download PDFs Instead of Previewing Them in Chrome and Firefox

If you don’t use Chrome but Mozilla Firefox, you can still download PDF instead of opening them. Firefox also has a built-in PDF Viewer, just like Chrome, so, when you click on a PDF, the document will open with Firefox PDF viewer. To download PDF instead of previewing them in Firefox, you can follow the given steps:

  1. Launch Firefox, click on the three horizontal lines, and select Options.
  2. Make sure you are on the General tab and scroll down a bit to reach Applications.
  3. From the “Portable Document Format (PDF)” section, change Open in Firefox to Save File.

This way you will be able to download PDFs instead of previewing them in Firefox.

If you use Microsoft Edge, and you want to download PDFs instead of previewing them, check out our guide.

Download PDFs Instead of Previewing Them in Chrome and Firefox
Sun, 02 May 2021 01:49:00 -0500 en-us text/html https://www.thewindowsclub.com/download-pdf-instead-of-previewing-chrome-and-firefox
Free AI PDF editor for Mac and iPhone from PDFgear

PDF Gear is available on Mac, iPad, or iPhone.

Adobe's PDF viewer faces some stiff competition from more comprehensive tools, like the AI PDF editor from PDFgear, which has more than 30 features and multi-platform support— for free.

PDF files are still king, especially in business and education settings, where formality is crucial. However, these files are notoriously tricky to manipulate, let alone manage and organize, which is why PDFgear's AI PDF editor is a go-to tool for all things PDF-related.

PDFgear features you can't live without

The best thing about PDFgear's AI PDF editor is the more than 30 features at your fingertips to read, edit, convert, manage, and organize your PDF files. Check out just a handful of the excellent features we use almost daily:

  • Read - Read PDF books and leave bookmarks.
  • Edit - No part of your PDF document is off limits.
  • Annotate - Collaborate with customizable comments.
  • OCR PDF - Extract information from PDF files.
  • Split PDF - Split PDF pages into separate PDF documents.
  • Convert to PDF - Convert HEIC, EPUB, HTML, Word, and more to PDF files.
  • Convert from PDF - Convert PDF files to Word, Excel, Image, or PSD file types.
  • Organize - Extract, rotate, reorder, and more. Manipulate your PDFs like never before.
  • Sign - Add signatures to important documents and complete transactions in paperless environments.

Take editing PDFs to new heights with PDF Gear.

Of course, there are so many more features to PDFgear's PDF editor that we could spend all day talking about. But PDFgear is even more appealing because you can download it for Mac, PC, or iOS for free.

PDFgear supercharges your PDF workflows with AI technology

While PDFgear already features a comprehensive list of features, it also brings the power of generative AI to your PDF documents. Artificial intelligence adds automation to workflows that streamline reading, editing, and converting, saving countless hours of manual labor.

For example, PDFgear's AI technology can read through a PDF document, pull out key sentences or phrases, and provide you with a concise summary of the content. Or prevent embarrassing typos or grammatical mistakes with the AI assistant.

Use AI to help summarize your PDF's content.

International business always has the added challenge of working with many languages in a single project. PDFgear's AI can help you translate documents into popular languages like French, Spanish, and Chinese for smooth interactions between collaborators.

Translate your PDF's content into several languages.

Perhaps it would be easier to tell PDFgear what you need and have it do it automatically. That's also possible, thanks to the Chat PDF feature that allows you to chat with your PDF files to accomplish more in less time.

PDFgear's AI PDF editor is available for free

PDFgear's AI-powered PDF editor goes beyond simple editing and managing features. By adding AI technology, you can take complete control of your documents with a few taps of your keyboard and get more done with less stress and higher precision.

You simply cannot beat free, and PDFgear offers its groundbreaking software download completely free of charge. No hidden fees, no surprises. Users from all corners of the internet rave about how good this PDF editor is, including us, and you can see why by downloading PDFgear for yourself today.

Sun, 15 Oct 2023 23:10:00 -0500 en text/html https://appleinsider.com/articles/23/10/16/free-ai-pdf-editor-for-mac-and-iphone-from-pdfgear
Court Forms: Certificate of Restoration of Opportunity

To download these forms, right click the mouse and choose "Save Target As" (for Mozilla/Firefox choose "Save Link As"). [More...]

Criminal Law Forms
Back to Forms Home Back to Forms Home
Certificate of Restoration of Opportunity

Note: Additional documents may be required by local county superior court rules.

Important: To obtain legal advice you should hire a lawyer (for “full service” representation or for “limited” representation) or, if you cannot afford one, contact a low cost or free legal service program. For a referral to a lawyer or a legal service program, call CLEAR (888) 201-1014. Your county may also have a courthouse facilitator who cannot provide legal advice, but who can offer limited assistance in completing necessary paperwork. This list of forms is not legal advice and is provided only for reference purposes.

Thu, 10 Aug 2023 06:29:00 -0500 text/html https://www.courts.wa.gov/forms/?fa=forms.contribute&formID=102
The Hacker News | #1 Trusted Cybersecurity News Site — Index Page

Nov 06, 2023 Cyber War / Malware

Israeli higher education and tech sectors have been targeted as part of a series of destructive cyber attacks that commenced in January 2023 with an aim to deploy previously undocumented wiper malware. The intrusions, which took place as recently as October, have been attributed to an Iranian nation-state hacking crew it tracks under the name Agonizing Serpens, which is also known as Agrius, BlackShadow and Pink Sandstorm (previously Americium). "The attacks are characterized by attempts to steal sensitive data, such as personally identifiable information (PII) and intellectual property," Palo Alto Networks Unit 42 said in a new report shared with The Hacker News. "Once the attackers stole the information, they deployed various wipers intended to cover the attackers' tracks and to render the infected endpoints unusable." This includes three different novel wipers such as MultiLayer, PartialWasher, and BFG Agonizer, as well as a bespoke tool to extract inf

Mon, 05 Dec 2022 16:19:00 -0600 en text/html https://thehackernews.com/search?updated-max=2023-11-07T10:38:00%2B05:30&max-results=10
ArcelorMittal S.A.: ArcelorMittal reports third quarter 2023 results

Luxembourg, November 9, 2023 - ArcelorMittal (referred to as "ArcelorMittal" or the "Company" or the "Group") (MT (New York, Amsterdam, Paris, Luxembourg), MTS (Madrid)), the world's leading integrated steel and mining company, today announced results1 for the three-month and nine-month periods ended September 30, 2023.

Commenting, Aditya Mittal, ArcelorMittal Chief Executive Officer, said:

"On October 28, 2023, we suffered a catastrophic accident at the Kostenko coal mine in Kazakhstan that took the lives of 46 colleagues. We mourn their passing and deeply regret the devastation caused to the families of the victims. We are doing everything in our power to support them, and our communities at this difficult time.

"The only course of action is to ensure that we take a hard look inside our Group, identify the gaps that exist and strengthen our safety actions, processes and culture to ensure that we prevent all serious accidents. For this reason, we are commissioning a comprehensive independent 3rd party safety audit, the key recommendations of which will be published in due course.

"We are committed to learning from this tragedy and taking the appropriate action so that we emerge a better, safer Company."

3Q'23 financial results:

  • 3Q 2023 was impacted by a negative price-cost effect and a -3.7% sequential decrease in steel shipments to 13.7Mt (scope adjusted2 -4.3% lower vs. 3Q 2022), resulting in a decline in operating income to $1.2bn in 3Q 2023 (vs. $1.9bn in 2Q 2023)5
  • Despite the challenging market environment, the Company continues to demonstrate structurally improved profitability: EBITDA of $1.9bn in 3Q 2023 (vs. $2.6bn in 2Q 2023); EBITDA/t was $136/t, well above the longer-term historical averages for the Group, reflecting the benefits of portfolio optimization and strategic projects
  • Similarly, net income remains well above longer term historical averages at $0.9bn in 3Q 2023 (vs. $1.9bn in 2Q 2023) reflecting the lower cost balance sheet and significant contribution from the share of JV and associates net income ($0.3bn in 3Q 2023 vs. $0.4bn in 2Q 2023)
  • This is reflected in the 3Q 2023 basic EPS of $1.11/sh and the last 12 months rolling ROE3 of 9.4%; book value per share4 stands at $66/sh
  • The Company ended the quarter with net debt of $4.3bn (gross debt of $10.5bn less cash and cash equivalents of $6.3bn) which is $0.2bn lower than at the end of June 30, 2023; and strong liquidity at end of September 30, 2023 of $11.8bn
  • The Company has repurchased 26.2m shares during 9M 2023 including 7.1m from the current 85m share buy back program

Outlook

  • The Company remains positive on the medium/long-term steel demand outlook and supported by its strong financial position remains focused on safety and executing its strategy of growth with capital returns
  • FY 2023 capex is expected to be towards the mid-point of the previously communicated guidance range ($4.5bn-$5.0bn); strategic growth projects remain on track and estimated to deliver $1.3bn of additional normalized12 EBITDA; the Company's decarbonization projects are progressing; and our XCarb products are gaining commercial momentum
  • The Company continues to expect a working capital release for the year (9M 2023 working capital investment of $0.9bn) and expects 4Q 2023 FCF to remain healthy

Financial highlights (on the basis of IFRS1):

(USDm) unless otherwise shown 3Q 23 2Q 23 3Q 22 9M 23 9M 22
Sales 16,616 18,606 18,975 53,723 62,953
Operating income 1,203 1,925 1,651 4,320 10,578
Net income attributable to equity holders of the parent 929 1,860 993 3,885 9,041
Basic earnings per common share (US$) 1.11 2.21 1.11 4.59 9.76
Operating income/tonne (US$/t) 88 136 122 102 244
EBITDA 1,865 2,605 2,660 6,292 12,903
EBITDA /tonne (US$/t) 136 183 196 149 298
Crude steel production (Mt) 15.2 14.7 14.9 44.4 45.8
Steel shipments (Mt) 13.7 14.2 13.6 42.3 43.3
Total Group iron ore production (Mt) 10.7 10.5 10.6 32.0 34.6
Iron ore production (Mt) (AMMC and Liberia only) 6.7 6.4 6.9 19.8 21.1
Iron ore shipment (Mt) (AMMC and Liberia only) 6.3 6.6 6.9 20.3 21.1
Shares outstanding fully diluted basis in millions 838 839 816 838 816


Safety and sustainable development

Devastating accident in Kazakhstan

ArcelorMittal has been devastated by the sequence of fatal accidents in Kazakhstan, culminating most recently in the disastrous explosion at the Kostenko mine on October 28, 2023, resulting in 46 deaths. These accidents took place despite intensified focus over the past two years on improving safety across the Group.

The Company is providing medical, emotional and financial support to the colleagues rescued from the accident. Assistance to bereaved families includes covering all funeral and memorial expenses, a one-off payment equivalent to ten years' salary, purchasing housing, repaying personal loans (deceased and family members), and covering education fees for children up to the age of 23. In addition, the Company is providing post-traumatic psychological support and developing individual health recovery plans.

ArcelorMittal has owned ArcelorMittal Temirtau since 1995, and over the last 20 years has invested over $5 billion capex into the maintenance and enhancement of the asset, including safety. Much of the safety spend in exact years has been directed to our mining business, for state-of-the-art sensors to monitor gas levels and personnel tracking systems so we can identify the location of miners at all times, and drilling equipment that enables us to study and better understand the geology of our mines. We have also significantly enhanced the volume and quality of our safety training, working with external experts. We are devastated, that despite our considerable efforts we have had 5 fatal accidents in the last two years.

We are commissioning a comprehensive 3rd party audit of all our safety practices

A full internal review of ArcelorMittal's Group-wide safety program is underway. In addition, the Company is in the process of commissioning a 3rd party to undertake a comprehensive audit of all the Group's safety practices. The scope of the audit will cover our complete management of health and safety: from policies, governance, processes and procedures, standards, in field assessments of both occupational health and safety and process safety, training, competencies, and our performance. The recommendations of the audit will be published.

While the audit is underway, we are building on and accelerating our existing safety improvement activities

In exact years, the Company has relaunched its safety strategy with a focus on twin pillars of risk management and cultural change:

  • The Group's health and safety policy strengthened and relaunched, including enhanced governance at the Board Sustainability Committee, since the beginning of 2022
  • In April 2023, an external consultant conducted a safety perception survey (covering 220,000 personnel including contractors), resulting in new bespoke action plans developed for all sites and segments
  • Leaders have been required to demonstrate more progress in safety culture maturity, with mandatory leadership shop floor presence, and site safety training programs
  • We have intensified training/coaching programs, including with external support, to Strengthen quality of leadership's safety routines (i.e. shop floor interactions) as well as increased cross training to benchmark and align best practices
  • Fatality Prevention Standards ("FPS") are internally audited and will now be externally audited
  • Where seriously unsafe incident takes place or a plant is deemed to be at risk of a serious incident or fatality, we have established a 'quarantine' process of intensified communication and safety interactions

The Group's steel operations (excluding CIS) are fatality free for own employees in 2023 year-to-date15 and including contractors, the fatality frequency rate ("FFR") has also considerably improved and is 40% better than the record World Steel Association average.

Sustainable development highlights:

  • ArcelorMittal renewable energy projects continue to progress supporting the decarbonization of our facilities in India, Brazil and Argentina:
    • ArcelorMittal's renewable energy project (975MW nominal capacity) in India is progressing and on track for completion in 1H 2024. Installation has started with >10% of solar panels installed, 10 windmills have been erected (representing 10% of total) and transmission lines are being rolled out with ~50% of the towers in place. Once complete, the project is expected to provide over 20% of AMNS India's Hazira plant electricity requirements reducing carbon emissions by ~1.5Mt per year;
    • In Brazil, construction of 554MW wind power project JV with Casa dos Ventos starting in 4Q 2023 with completion expected in 2025. The JV is expected to provide 38% of ArcelorMittal Brasil's future electricity needs in 2030; and
    • In Argentina, the $0.2 billion JV with PCR (the first hybrid solar and wind energy project in the country) entered commercial operations in October 2023 generating 36MW and is expected to add a further 75MW by year end. This is anticipated to provide >30% of Acindar's electricity requirements in 2024.
  • ArcelorMittal continues to expand the grades of steel available under the XCarb recycled and renewably produced ("RRP") umbrella. On July 18, 2023, ArcelorMittal launched low-carbon emissions steel plate (up to 18 tonnes) for the civil engineering sector (e.g. box girders for road and rail bridges). The steel is produced using almost 100% scrap steel and 100% renewable electricity, resulting in approximately 60% lower CO2 emissions compared with steel made via the conventional steelmaking route (blast furnace).
  • ArcelorMittal's decarbonization projects, transforming from blast furnace to DRI EAF, are advancing to FEED stage. ArcelorMittal has approved the capex to commence onsite preparation works at Dunkirk (France) and Gent (Belgium) and to increase the connectivity to third- party energy supplies in anticipation of future increased requirements. These are the first steps in ArcelorMittal's plan to decarbonize our assets towards our overarching aim of being net zero by 2050.

Analysis of results for 3Q 2023 versus 2Q 2023 and 3Q 2022

Total steel shipments in 3Q 2023 were -3.7% lower at 13.7Mt as compared with 14.2Mt for 2Q 2023, reflecting lower shipments in NAFTA (-3.0%), Europe shipments (-10.1%) reflecting seasonality and inventory replenishment offset in part by improved volume in ACIS (+13.4%). Total steel shipments in 3Q 2023 were +0.8% higher as compared with 13.6Mt in 3Q 2022. Excluding the impacts of ArcelorMittal Pecém, steel shipments in 3Q 2023 were -4.3% lower as compared to 3Q 2022.

Sales in 3Q 2023 were -10.7% lower at $16.6 billion as compared to $18.6 billion in 2Q 2023 and lower than $19.0 billion for 3Q 2022. As compared to 2Q 2023, sales were impacted by lower average steel selling prices (-7.5%) and lower steel shipment volumes (as discussed above). Sales in 3Q 2023 were -12.4% lower as compared to 3Q 2022 primarily due to lower average steel selling prices (-12.5%).

Depreciation for 3Q 2023 was lower at $662 million, slightly lower than $680 million for 2Q 2023, but higher than $628 million in 3Q 2022 (largely due to the consolidation of ArcelorMittal Pecém).

There were no exceptional items for 3Q 2023 and 2Q 2023. Exceptional items for 3Q 2022 of $0.4 billion included $0.5 billion of non-cash inventory related charges to reflect the net realizable value of inventory under IFRS with declining market prices in Europe and partially offset by a $0.1 billion purchase gain on the acquisition of a Hot Briquetted Iron ('HBI') plant in Texas.

On October 22, 2023, ArcelorMittal signed a preliminary non-binding agreement to transfer ownership of ArcelorMittal Temirtau14 to the Republic of Kazakhstan. The ArcelorMittal Temirtau assets are recorded on ArcelorMittal's balance sheet as of September 30, 2023 at a value of $1.8 billion; neither this agreement nor the accident at the Kostenko mine on October 28, 2023, had a retrospective impact on this carrying value as both events are considered as non-adjusting subsequent events. The functional currency of ArcelorMittal Temirtau is the Tenge and therefore carrying values are subject to foreign exchange translation gains and losses recognized in equity upon translation into the US dollar, the currency in which ArcelorMittal's financial statements are presented. Since the acquisition of this asset in 1995, ArcelorMittal has recorded approximately $1.3 billion of foreign exchange losses in equity. Upon disposal of the foreign operation, such cumulative foreign exchange differences are recycled in profit and loss (i.e. total equity remains unchanged). Additionally, if and when a binding agreement is entered into and the transaction is closed, ArcelorMittal Temirtau's net assets will be deconsolidated.

Operating income for 3Q 2023 was $1.2 billion as compared to $1.9 billion in 2Q 2023 and $1.7 billion in 3Q 2022. The lower operating income in 3Q 2023 as compared to 2Q 2023 reflected a decline in steel spreads (as the pace of the decline in steel prices was greater than the reduction in the raw material basket) and lower steel shipments.

Income from associates, joint ventures and other investments for 3Q 2023 was $285 million as compared to $393 million in 2Q 2023 (which included $0.1 billion income from AMNS India arising from recognition of a deferred tax asset) and $59 million in 3Q 2022. 3Q 2023 results improved as compared to 3Q 2022 with higher contributions from AMNS India and Calvert.

Net interest expense in 3Q 2023 was $31 million as compared to $47 million in 2Q 2023 and $37 million in 3Q 2022.

Foreign exchange and other net financing loss in 3Q 2023 was $224 million as compared to $133 million in 2Q 2023 and $247 million in 3Q 2022. 3Q 2023 included a foreign exchange loss of $99 million as compared to $60 million in 2Q 2023 and $108 million in 3Q 2022.

ArcelorMittal recorded an income tax expense of $272 million (including deferred tax benefit of $10 million) in 3Q 2023, as compared to an income tax expense of $231 million (including deferred tax benefit of $85 million) in 2Q 2023 and an income tax expense of $371 million (including deferred tax benefit of $23 million) in 3Q 2022.

ArcelorMittal recorded net income in 3Q 2023 of $929 million as compared to $1,860 million in 2Q 2023 and $993 million for 3Q 2022.

ArcelorMittal's basic earnings per common share for 3Q 2023 was lower at $1.11 as compared to $2.21 in 2Q 2023 and stable compared to $1.11 in 3Q 2022.

Analysis of segment operations

NAFTA

(USDm) unless otherwise shown 3Q 23 2Q 23 3Q 22 9M 23 9M 22
Sales 3,188 3,498 3,438 10,036 10,851
Operating income 520 662 616 1,637 2,487
Depreciation (125) (127) (114) (378) (300)
Exceptional items - - 92 - 92
EBITDA 645 789 638 2,015 2,695
Crude steel production (kt) 2,122 2,244 2,126 6,542 6,246
Steel shipments* (kt) 2,527 2,604 2,339 7,974 7,248
Average steel selling price (US$/t) 1,043 1,116 1,191 1,049 1,278

* NAFTA steel shipments include slabs sourced by the segment from Group companies (mainly the Brazil segment) and sold to the Calvert JV (eliminated in the Group consolidation). These shipments can vary between periods due to slab sourcing mix and timing of vessels. 3Q'23 393kt 2Q'23 360kt; 3Q'22 241kt; 9M'23 1,227kt and 9M'22 901kt

NAFTA segment crude steel production declined by -5.4% to 2.1Mt in 3Q 2023 as compared to 2.2Mt in 2Q 2023 primarily due to maintenance in Long Products Canada, and was stable as compared to 3Q 2022.

Steel shipments in 3Q 2023 decreased by -3.0% to 2.5Mt as compared to 2.6Mt in 2Q 2023 and were +8.0% higher than 3Q 2022 primarily due to higher slab shipments sourced from Brazil and sold to Calvert JV (+1.4% year-on-year excluding this effect).

Sales in 3Q 2023 decreased by -8.8% to $3.2 billion, as compared to $3.5 billion in 2Q 2023 primarily on account of lower average steel selling prices (-6.5%) and lower steel shipments (-3.0%). Sales declined by -7.3% in 3Q 2023 as compared to $3.4 billion in 3Q 2022 primarily on account of lower average steel selling prices (-12.4%) offset in part by higher steel shipment volumes (+8.0%).

Exceptional items for 3Q 2022 of $0.1 billion were the purchase gain recognized on the acquisition of the HBI plant in Texas.

Operating income in 3Q 2023 decreased by -21.4% to $520 million as compared to $662 million in 2Q 2023 and was -15.6% lower as compared to $616 million in 3Q 2022.

EBITDA in 3Q 2023 of $645 million was -18.2% lower as compared to $789 million in 2Q 2023, primarily due to a negative price-cost effect and lower steel shipments. EBITDA in 3Q 2023 was broadly stable as compared to $638 million in 3Q 2022.

Brazil6

(USDm) unless otherwise shown 3Q 23 2Q 23 3Q 22 9M 23 9M 22
Sales 3,560 3,826 3,486 10,454 10,838
Operating income 414 553 598 1,290 2,473
Depreciation (87) (105) (57) (264) (186)
EBITDA 501 658 655 1,554 2,659
Crude steel production (kt) 3,669 3,732 2,969 10,453 9,094
Steel shipments (kt) 3,599 3,583 2,837 10,119 8,877
Average steel selling price (US$/t) 932 1,001 1,137 970 1,137

Brazil segment crude steel production decreased by -1.7% to 3.7Mt in 3Q 2023 as compared to 2Q 2023. On a scope adjusted basis (i.e. excluding the impact of ArcelorMittal Pecém consolidated as from March 9, 2023), 3Q 2023 crude steel production of 2.9Mt declined by -2.7% as compared to 3.0Mt in 3Q 2022.

Steel shipments in 3Q 2023 at 3.6Mt was stable as compared to 2Q 2023 and +26.8% higher as compared to 2.8Mt in 3Q 2022 primarily due to the impact of ArcelorMittal Pecém. On a scope adjusted basis (i.e. excluding ArcelorMittal Pecém), steel shipments in 3Q 2023 increased by +2.1% as compared to 3Q 2022.

Sales in 3Q 2023 decreased by -6.9% to $3.6 billion as compared to $3.8 billion in 2Q 2023, primarily due to a -6.9% decrease in average steel selling prices. Sales in 3Q 2023 were +2.1% higher than $3.5 billion at 3Q 2022 primarily on account of the impact of ArcelorMittal Pecém offset in part by -18.1% decline in average steel selling prices.

Operating income in 3Q 2023 of $414 million was -25.2% lower as compared to $553 million in 2Q 2023 and -30.9% lower than $598 million in 3Q 2022.

EBITDA in 3Q 2023 decreased by -24.0% to $501 million as compared to $658 million in 2Q 2023 due to negative price-cost effect. EBITDA in 3Q 2023 was -23.6% lower than $655 million in 3Q 2022 primarily due to negative price-cost effect offset in part by the contribution from ArcelorMittal Pecém.

Europe

(USDm) unless otherwise shown 3Q 23 2Q 23 3Q 22 9M 23 9M 22
Sales 8,894 10,518 10,694 30,315 37,186
Operating income 160 556 158 1,093 4,302
Depreciation (313) (309) (300) (916) (952)
Exceptional items - - (473) - (473)
EBITDA 473 865 931 2,009 5,727
Crude steel production (kt) 7,475 6,943 7,998 22,197 24,948
Steel shipments (kt) 6,538 7,274 7,079 21,564 23,380
Average steel selling price (US$/t) 1,020 1,097 1,150 1,059 1,222

Europe segment crude steel production increased by +7.7% to 7.5Mt in 3Q 2023 as compared to 6.9Mt in 2Q 2023, which had been impacted by the blast furnace outages in Gijon, Spain (BF A) and Dunkirk, France (BF4). The two furnaces were restarted in mid-July 2023, but due to slow ramp ups, crude steel production in 3Q 2023 was -6.5% lower as compared to 8.0Mt in 3Q 2022. 4Q 2023 production will be impacted by production cuts including BF1 at Fos (France), reline of BFA at Gent (Belgium) and planned maintenance of BF#2 at Bremen (Germany).

Steel shipments decreased by -10.1% to 6.5Mt in 3Q 2023 as compared to 7.3Mt in 2Q 2023 primarily due to seasonal demand impacts including weaker construction-related demand and metal stock replenishment. These same factors and the weaker economic environment impacted shipments in 3Q 2023 which were -7.7% lower as compared to 7.1Mt in 3Q 2022.

Sales in 3Q 2023 declined by -15.4% to $8.9 billion, as compared to $10.5 billion in 2Q 2023, primarily due to a -7.1% decrease in average steel selling prices and a -10.1% decline in steel shipments. Sales declined by -16.8% as compared to $10.7 billion in 3Q 2022 primarily due to lower average steel selling prices (-11.3%) and lower steel shipments (-7.7%).

Exceptional items for 3Q 2022 of $473 million related to non-cash inventory charges under IFRS to reflect the net realizable value of inventory in light of declining market prices.

Operating income in 3Q 2023 was $160 million as compared to $556 million in 2Q 2023 and $158 million in 3Q 2022.

EBITDA in 3Q 2023 of $473 million decreased by -45.3% as compared to $865 million in 2Q 2023, mainly due to lower steel shipments and a negative price-cost effect. EBITDA in 3Q 2023 decreased by -49.2% as compared to $931 million in 3Q 2022 due to lower steel shipments and a negative price cost effect, offset partly by lower energy costs.

ACIS

(USDm) unless otherwise shown 3Q 23 2Q 23 3Q 22 9M 23 9M 22
Sales 1,389 1,389 1,569 4,223 5,139
Operating (loss)income (92) (64) (55) (332) 268
Depreciation (71) (73) (93) (216) (304)
EBITDA (21) 9 38 (116) 572
Crude steel production (kt) 1,925 1,768 1,842 5,176 5,555
Steel shipments (kt) 1,698 1,497 1,675 4,695 4,964
Average steel selling price (US$/t) 681 727 773 714 845

ACIS segment crude steel production in 3Q 2023 was 1.9Mt, an increase of +8.9% as compared to 1.8Mt in 2Q 2023 and +4.5% higher than 3Q 2022 primarily due to increased production in Ukraine.

Steel shipments in 3Q 2023 were +13.4% higher at 1.7Mt (in all three units) as compared to 1.5Mt in 2Q 2023 and were +1.3% higher as compared to 1.7Mt in 3Q 2022.

Sales in 3Q 2023 were stable at $1.4 billion as compared to 2Q 2023, primarily due to higher steel shipments offset by lower average steel selling prices (-6.4%). Sales declined by -11.5% in 3Q 2023 as compared to $1.6 billion in 3Q 2022 primarily on account of lower average steel selling prices (-12.0%) offset in part with higher steel shipments (+1.3%).

Operating loss in 3Q 2023 was $92 million as compared to $64 million in 2Q 2023 and $55 million in 3Q 2022.

EBITDA loss was $21 million in 3Q 2023 as compared to EBITDA of $9 million in 2Q 2023 primarily due to lower average steel selling prices offset in part by higher steel shipments. EBITDA is lower as compared to $38 million in 3Q 2022 primarily due to lower average steel selling prices (-12.0%).

Mining

(USDm) unless otherwise shown 3Q 23 2Q 23 3Q 22 9M 23 9M 22
Sales 729 680 742 2,313 2,680
Operating income 275 225 254 874 1,228
Depreciation (57) (56) (57) (169) (177)
EBITDA 332 281 311 1,043 1,405
Iron ore production (Mt) 6.7 6.4 6.9 19.8 21.1
Iron ore shipment (Mt) 6.3 6.6 6.9 20.3 21.1

Note: Mining segment comprises iron ore operations of ArcelorMittal Mines Canada and ArcelorMittal Liberia.

Iron ore production in 3Q 2023 was +4.4% higher at 6.7Mt as compared to 6.4Mt in 2Q 2023, with higher production in ArcelorMittal Mines Canada (AMMC)7 more than offsetting the impact of a severe wet season on production in Liberia. Nevertheless, production was -3.4% lower than 6.9Mt in 3Q 2022.

Iron ore shipments were -1.6% lower at 6.3Mt in 3Q 2023 as compared to 6.6Mt in 2Q 2023 and -7.4% lower as compared to 6.9Mt in 3Q 2022, primarily due to the severe wet season in Liberia.

Operating income in 3Q 2023 was higher by +22.0% at $275 million as compared to $225 million in 2Q 2023 and higher by +8.2% as compared to $254 million in 3Q 2022.

EBITDA in 3Q 2023 of $332 million was higher as compared to $281 million in 2Q 2023, with the effect of higher iron ore reference prices (+3.1%). EBITDA in 3Q 2023 was +6.7% higher as compared to $311 million in 3Q 2022, primarily due to higher iron ore reference prices (+9.8%) and lower freight costs offset in part by lower iron ore shipments (-7.4%) and lower quality premia.

Joint ventures

ArcelorMittal has investments in various joint ventures and associate entities globally. The Company considers the Calvert (50% equity interest) and AMNS India (60% equity interest) joint ventures to be of particular strategic importance, warranting more detailed disclosures to Strengthen the understanding of their operational performance and value to the Company.

Calvert

(USDm) unless otherwise shown 3Q 23 2Q 23 3Q 22 9M 23 9M 22
Production (100% basis) (kt)* 1,178 1,198 1,055 3,602 3,306
Steel shipments (100% basis) (kt)** 1,063 1,157 1,030 3,390 3,324
EBITDA (100% basis)*** 105 142 2 284 590

* Production: all production of the hot strip mill including processing of slabs on a hire work basis for ArcelorMittal Group entities and third parties, including stainless steel slabs.
** Shipments: including shipments of finished products processed on a hire work basis for ArcelorMittal Group entities and third parties, including stainless steel products.
*** EBITDA of Calvert presented here on a 100% basis as a stand-alone business and in accordance with the Company's policy, applying the weighted average method of accounting for inventory.

Calvert's hot strip mill ("HSM") production during 3Q 2023 decreased by -1.7% to 1.2Mt as compared to 2Q 2023, and increased by +11.7% as compared to 1.1Mt in 3Q 2022.

Steel shipments in 3Q 2023 of 1.1Mt declined by -8.1% as compared to 1.2Mt in 2Q 2023 primarily due to lower demand from service centers and lower tolling and higher by +3.2% as compared to 1.0Mt in 3Q 2022.

EBITDA*** during 3Q 2023 of $105 million represented a decline as compared to $142 million in 2Q 2023 primarily due to a negative price cost effect.

AMNS India

(USDm) unless otherwise shown 3Q 23 2Q 23 3Q 22 9M 23 9M 22
Crude steel production (100% basis) (kt) 1,942 1,792 1,663 5,500 5,061
Steel shipments (100% basis) (kt) 1,874 1,679 1,634 5,383 4,877
EBITDA (100% basis) 533 563 204 1,437 1,039

Crude steel production in 3Q 2023 increased by +8.4% to 1.9Mt as compared to 1.8Mt in 2Q 2023 and +16.8% higher as compared to 1.7Mt in 3Q 2022 (which had been impacted by planned maintenance).

Steel shipments in 3Q 2023 were 11.6% higher at 1.9Mt as compared 1.7Mt in 2Q 2023 and +14.7% higher as compared to 1.6Mt in 3Q 2022.

EBITDA during 3Q 2023 of $533 million was -5.3% lower as compared to $563 million in 2Q 2023, primarily due to lower average steel selling prices offset in part by higher steel shipments and lower costs. 3Q 2023 EBITDA was higher as compared to $204 million in 3Q 2022, due to higher steel shipments and lower costs including the gain from the unwinding of a natural gas hedge.

Liquidity and Capital Resources

Net cash provided by operating activities in 3Q 2023 was $1,281 million as compared to $2,087 million in 2Q 2023 and $1,981 million in 3Q 2022. Net cash provided by operating activities in 3Q 2023 includes a working capital investment of $269 million as compared to a release of $178 million in 2Q 2023 and an investment of $580 million in 3Q 2022. The Company has invested $866 million in working capital over the first nine months of 2023 but continues to expect an overall working capital release for the full year.

Capex in 3Q 2023 amounted to $1,165 million compared with $1,060 million in 2Q 2023 and $784 million in 3Q 2022. FY 2023 capex is expected to be towards the mid-point of the previously communicated guidance range ($4.5 billion - $5.0 billion)8,11.

Net cash provided by other investing activities in 3Q 2023 of $187 million and $45 million in 2Q 2023 mainly related to asset sales. Net cash used in other investing activities in 3Q 2022 was $19 million mainly related to investment in Form Energy Inc. (through the XCarbTM innovation fund)9.

Net cash provided by financing activities in 3Q 2023 was $102 million which include ArcelorMittal share buybacks totalling $38 million (1.4 million shares purchased during this quarter)13. Net cash used in financing activities in 2Q 2023 was $1,490 million which included a $812 million note repayment at maturity and ArcelorMittal share buybacks totalling $227 million ($149 million for 5.7 million shares purchased during 2Q 2023 and $78 million related to 1Q 2023 purchases settled in early April 2023). Net cash used in financing activities in 3Q 2022 was $219 million and included the issuance of a €600 million 4 year note which was offset by the repurchase of 31 million shares for a total amount of $712 million (of which $649 million was paid by the end of September 2022 and $63 million settled in early October 2022).

During 3Q 2023, the Company paid $66 million mainly to minority shareholders of AMMC as compared to $12 million in 2Q 2023 and $124 million in 3Q 2022 mainly paid to minority shareholders of AMMC.

Gross debt remained stable at $10.5 billion as of September 30, 2023 (with cash and cash equivalents of $6.3 billion), as compared to June 30, 2023 (with cash and cash equivalents of $5.9 billion), and $11.6 billion as of December 31, 2022 (with cash and cash equivalents of $9.4 billion). Net debt decreased by $0.2 billion to $4.3 billion as of September 30, 2023, as compared to $4.5 billion as of June 30, 2023, and increased by $2.1 billion from $2.2 billion as of December 31, 2022.

As of September 30, 2023, the Company had liquidity of $11.8 billion consisting of cash and cash equivalents of $6.3 billion and $5.5 billion of available credit lines as compared to liquidity of $11.4 billion as of June 30, 2023 (consisting of cash and cash equivalents of $5.9 billion and $5.5 billion of available credit lines10). As of September 30, 2023, the average debt maturity was 5.9 years.

Recent developments

On October 22, 2023, a preliminary agreement was signed with the Government of Kazakhstan for the transfer of ownership of ArcelorMittal Temirtau14 to the Republic of Kazakhstan. The Company is focused on concluding this transaction as soon as possible.

Outlook

Based on year-to-date developments and the current economic outlook, ArcelorMittal continues to forecast global ex-China apparent steel consumption ("ASC") to grow by between +1.0% to +2.0% in 2023 as compared to 2022. Within this forecast, we expect ASC in Europe to be below the bottom end of our previous forecast range (-0.5% to +1.5%) due to weak demand for long products given weaker construction activity, whilst ASC in India is expected to be above the top end of the previous forecast range (+6.0% to +8.0%).

Production in 1H 2023 was impacted by operational incidents at European operations, limiting shipments and also reducing metal stock inventories. Production in 2H 2023 is being impacted by scheduled BF relines in Gent (Belgium) and Bremen (Germany). Given the prevailing low spread environment, the Company is prioritizing the replenishment of its metal stock during 2H 2023, to be well positioned to respond to customer demand in an improved spread environment with expected service and delivery performance. Given these factors, the Company expects steel shipments in 2023 to be broadly stable as compared to 2022.

The Company remains positive on the medium/long-term steel demand outlook and, supported by its strong financial position remains focused on executing its strategy of growth with capital returns. FY 2023 capex is expected to be towards the mid-point of the previously communicated guidance range ($4.5 billion-$5.0 billion); strategic growth projects remain on track and estimated to deliver $1.3 billion of additional normalized EBITDA12.

The Company continues to expect a working capital release for the year (9M 2023 working capital investment of $0.9 billion) and expects FCF to remain healthy in 4Q 2023.

ArcelorMittal Condensed Consolidated Statements of Financial Position1

In millions of U.S. dollars Sept 30, 2023 Jun 30, 2023 Dec 31, 2022
ASSETS
Cash and cash equivalents 6,289 5,943 9,414
Trade accounts receivable and other 4,479 4,774 3,839
Inventories 18,852 20,036 20,087
Prepaid expenses and other current assets 3,505 3,636 3,778
Total Current Assets 33,125 34,389 37,118
Goodwill and intangible assets 4,885 5,074 4,903
Property, plant and equipment 33,494 33,682 30,167
Investments in associates and joint ventures 11,171 11,142 10,765
Deferred tax assets 8,884 8,901 8,554
Other assets 2,180 2,235 3,040
Total Assets 93,739 95,423 94,547
LIABILITIES AND SHAREHOLDERS' EQUITY
Short-term debt and current portion of long-term debt 2,310 1,809 2,583
Trade accounts payable and other 12,315 13,454 13,532
Accrued expenses and other current liabilities 5,826 5,791 6,283
Total Current Liabilities 20,451 21,054 22,398
Long-term debt, net of current portion 8,233 8,651 9,067
Deferred tax liabilities 2,573 2,722 2,666
Other long-term liabilities 4,943 5,087 4,826
Total Liabilities 36,200 37,514 38,957
Equity attributable to the equity holders of the parent 55,406 55,720 53,152
Non-controlling interests 2,133 2,189 2,438
Total Equity 57,539 57,909 55,590
Total Liabilities and Shareholders' Equity 93,739 95,423 94,547

ArcelorMittal Condensed Consolidated Statements of Operations1

Three months ended Nine months ended
In millions of U.S. dollars unless otherwise shown Sept 30, 2023 Jun 30, 2023 Sept 30, 2022 Sept 30, 2023 Sept 30, 2022
Sales 16,616 18,606 18,975 53,723 62,953
Depreciation (B) (662) (680) (628) (1,972) (1,944)
Impairment items (B) - - - - -
Exceptional items (B) - - (381) - (381)
Operating income (A) 1,203 1,925 1,651 4,320 10,578
Operating margin % 7.2 % 10.3 % 8.7 % 8.0 % 16.8 %
Income from associates, joint ventures and other investments 285 393 59 996 1,196
Net interest expense (31) (47) (37) (142) (141)
Foreign exchange and other net financing (loss) (224) (133) (247) (474) (570)
Income before taxes and non-controlling interests 1,233 2,138 1,426 4,700 11,063
Current tax expense (282) (316) (394) (880) (1,989)
Deferred tax benefit 10 85 23 188 237
Income tax expense (net) (272) (231) (371) (692) (1,752)
Income including non-controlling interests 961 1,907 1,055 4,008 9,311
Non-controlling interests income (32) (47) (62) (123) (270)
Net income attributable to equity holders of the parent 929 1,860 993 3,885 9,041
Basic earnings per common share ($) 1.11 2.21 1.11 4.59 9.76
Diluted earnings per common share ($) 1.10 2.20 1.11 4.57 9.73
Weighted average common shares outstanding (in millions) 838 842 892 847 926
Diluted weighted average common shares outstanding (in millions) 841 845 895 850 929
OTHER INFORMATION
EBITDA (C = A-B) 1,865 2,605 2,660 6,292 12,903
EBITDA Margin % 11.2 % 14.0 % 14.0 % 11.7 % 20.5 %
Total Group iron ore production (Mt) 10.7 10.5 10.6 32.0 34.6
Crude steel production (Mt) 15.2 14.7 14.9 44.4 45.8
Steel shipments (Mt) 13.7 14.2 13.6 42.3 43.3

ArcelorMittal Condensed Consolidated Statements of Cash flows1

Three months ended Nine months ended
In millions of U.S. dollars Sept 30, 2023 Jun 30, 2023 Sept 30, 2022 Sept 30, 2023 Sept 30, 2022
Operating activities:
Income attributable to equity holders of the parent 929 1,860 993 3,885 9,041
Adjustments to reconcile net income to net cash provided by operations:
Non-controlling interests income 32 47 62 123 270
Depreciation 662 680 628 1,972 1,944
Exceptional items - - 381 - 381
Income from associates, joint ventures and other investments (285) (393) (59) (996) (1,196)
Deferred tax benefit (10) (85) (23) (188) (237)
Change in working capital (269) 178 (580) (866) (3,635)
Other operating activities (net) 222 (200) 579 387 1
Net cash provided by operating activities (A) 1,281 2,087 1,981 4,317 6,569
Investing activities:
Purchase of property, plant and equipment and intangibles (B) (1,165) (1,060) (784) (3,163) (1,968)
Other investing activities (net) 187 45 (19) (1,699) (982)
Net cash used in investing activities (978) (1,015) (803) (4,862) (2,950)
Financing activities:
Net proceeds(payments) relating to payable to banks and long-term debt 262 (1,011) 592 (1,139) 1,360
Dividends paid to ArcelorMittal shareholders - (185) - (185) (332)
Dividends paid to minorities (C) (66) (12) (124) (131) (302)
Share buyback (38) (227) (649) (742) (2,649)
Lease payments and other financing activities (net) (56) (55) (38) (540) (132)
Net cash provided by (used in) financing activities 102 (1,490) (219) (2,737) (2,055)
Net increase(decrease) in cash and cash equivalents 405 (418) 959 (3,282) 1,564
Effect of exchange rate changes on cash (85) 64 (451) 127 (814)
Change in cash and cash equivalents 320 (354) 508 (3,155) 750
Free cash flow (D=A+B+C) 50 1,015 1,073 1,023 4,299

Appendix 1: Product shipments by region1

(000'kt) 3Q 23 2Q 23 3Q 22 9M 23 9M 22
Flat 1,938 2,046 1,743 6,192 5,354
Long 667 667 676 2,025 2,081
NAFTA 2,527 2,604 2,339 7,974 7,248
Flat 2,328 2,363 1,519 6,431 4,909
Long 1,283 1,234 1,345 3,734 4,034
Brazil 3,599 3,583 2,837 10,119 8,877
Flat 4,483 5,049 4,978 15,000 16,636
Long 1,945 2,068 1,967 6,161 6,388
Europe 6,538 7,274 7,079 21,564 23,380
CIS 1,052 905 1,170 2,858 3,305
Africa 649 593 503 1,842 1,662
ACIS 1,698 1,497 1,675 4,695 4,964

Note: "Others and eliminations" are not presented in the table

Appendix 2: Capital expenditures1

(USDm) 3Q 23 2Q 23 3Q 22 9M 23 9M 22
NAFTA 72 122 97 309 299
Brazil 243 215 154 625 367
Europe 409 350 242 1,110 640
ACIS 103 117 135 326 332
Mining 207 204 128 579 290
Others 131 52 28 214 40
Total 1,165 1,060 784 3,163 1,968

Appendix 3: Debt repayment schedule as of September 30, 2023

(USD billion) 2023 2024 2025 2026 2027 >2027 Total
Bonds - 0.9 1.0 1.0 1.2 2.6 6.7
Commercial paper 0.7 0.2 - - - - 0.9
Other loans 0.3 0.4 0.6 0.2 0.5 0.9 2.9
Total gross debt 1.0 1.5 1.6 1.2 1.7 3.5 10.5

Appendix 4: Reconciliation of gross debt to net debt

(USD million) Sept 30, 2023 Jun 30, 2023 Dec 31, 2022
Gross debt 10,543 10,460 11,650
Less: Cash and cash equivalents (6,289) (5,943) (9,414)
Net debt 4,254 4,517 2,236
Net debt / LTM EBITDA 0.6 0.5 0.2


Appendix 5: Terms and definitions

Unless indicated otherwise, or the context otherwise requires, references in this earnings release to the following terms have the meanings set out next to them below:

Apparent steel consumption: calculated as the sum of production plus imports minus exports.
Average steel selling prices: calculated as steel sales divided by steel shipments.
Cash and cash equivalents: represents cash and cash equivalents, restricted cash and short-term investments.
Capex: represents the purchase of property, plant and equipment and intangibles.
Crude steel production: steel in the first solid state after melting, suitable for further processing or for sale.
Depreciation: refers to amortization and depreciation.
EPS: refers to basic or diluted earnings per share.
EBITDA: operating results plus depreciation, impairment items and exceptional items.
EBITDA/tonne: calculated as EBITDA divided by total steel shipments.
Exceptional items: income / (charges) relate to transactions that are significant, infrequent or unusual and are not representative of the normal course of business of the period.
FEED: Front End Engineering Design, or FEED, is an engineering and project management approach undertaken before detailed engineering, procurement, and construction. This crucial phase helps manage project risks and thoroughly prepare for the project's execution. It directly follows the pre-feed phase during which the concept is selected, and the feasibility of available options is studied.
Foreign exchange and other net financing income(loss): include foreign currency exchange impact, bank fees, interest on pensions, impairment of financial assets, revaluation of derivative instruments and other charges that cannot be directly linked to operating results.
FFR: refers to Fatality Frequency Rate and is calculated on the number of fatalities per 1,000,000 worked hours.
Free cash flow (FCF): refers to net cash provided by operating activities less capex less dividends paid to minority shareholders
Gross debt: long-term debt and short-term debt.
Impairment items: refers to impairment charges net of reversals.
Iron ore reference prices: refers to iron ore prices for 62% Fe CFR China.
Kt: refers to thousand metric tonnes.
Liquidity: cash and cash equivalents plus available credit lines excluding back-up lines for the commercial paper program.
LTIF: refers to lost time injury frequency rate equals lost time injuries per 1,000,000 worked hours, based on own personnel and contractors.
Mt: refers to million metric tonnes.
Net debt: long-term debt and short-term debt less cash and cash equivalents.
Net debt/LTM EBITDA: refers to Net debt divided by EBITDA for the last twelve months.
Net interest expense: includes interest expense less interest income
On-going projects: refer to projects for which construction has begun (excluding various projects that are under development), even if such projects have been placed on hold pending improved operating conditions.
Operating results: refers to operating income(loss).
Own iron ore production: includes total of all finished production of fines, concentrate, pellets and lumps and includes share of production.
Price-cost effect: a lack of correlation or a lag in the corollary relationship between raw material and steel prices, which can either have a positive (i.e. increased spread between steel prices and raw material costs) or negative effect (i.e. a squeeze or decreased spread between steel prices and raw material costs).
PSIF: PSIFs are precursors of severe accidents: unsafe situations or events, that we detect proactively, before they could lead to a fatality or injury.
Shares outstanding fully diluted basis: refers to shares outstanding (shares issued less treasury shares) plus shares underlying Mandatorily Convertible Subordinated Notes ("MCNs") which were converted into shares in May 2023.
Shipments: information at segment and Group level eliminates intra-segment shipments (which are primarily between Flat/Long plants and Tubular plants) and inter-segment shipments respectively. Shipments of Downstream Solutions are excluded.
Working capital change (working capital investment / release): Movement of change in working capital - trade accounts receivable plus inventories less trade and other accounts payable.

Footnotes

  1. The financial information in this press release has been prepared consistently with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB") and as adopted by the European Union. The interim financial information included in this announcement has also been prepared in accordance with IFRS applicable to interim periods, however this announcement does not contain sufficient information to constitute an interim financial report as defined in International Accounting Standard 34, "Interim Financial Reporting". The numbers in this press release have not been audited. The financial information and certain other information presented in a number of tables in this press release have been rounded to the nearest whole number or the nearest decimal. Therefore, the sum of the numbers in a column may not conform exactly to the total figure given for that column. In addition, certain percentages presented in the tables in this press release reflect calculations based upon the underlying information prior to rounding and, accordingly, may not conform exactly to the percentages that would be derived if the relevant calculations were based upon the rounded numbers. Segment information presented in this press release is prior to inter-segment eliminations and certain adjustments made to operating results of the segments to reflect corporate costs, income from non-steel operations (e.g. logistics and shipping services) and the elimination of stock margins between the segments. This press release also includes certain non-GAAP financial/alternative performance measures. ArcelorMittal presents EBITDA and EBITDA/tonne, free cash flow (FCF) and ratio of net debt/LTM EBITDA which are non-GAAP financial/alternative performance measures, as additional measures to enhance the understanding of its operating performance. ArcelorMittal also presents Equity book value per share and ROE as shown in footnotes to this press release. ArcelorMittal believes such indicators are relevant to provide management and investors with additional information. ArcelorMittal also presents net debt and change in working capital as additional measures to enhance the understanding of its financial position, changes to its capital structure and its credit assessment. ArcelorMittal is not presenting adjusted net income/(loss) because there have been no adjustments in exact periods. The Company's guidance as to its working capital release (or the change in working capital included in net cash provided by operating activities) for 2023 is based on the same accounting policies as those applied in the Company's financial statements prepared in accordance with IFRS. Non-GAAP financial/alternative performance measures should be read in conjunction with, and not as an alternative to, ArcelorMittal's financial information prepared in accordance with IFRS.
  2. Excluding the impacts of ArcelorMittal Pecém, steel shipments in 3Q 2023 were -4.3% lower as compared to 3Q 2022.
  3. ROE refers to "Return on Equity" which is calculated as trailing twelve-month net income (excluding impairment charges and exceptional items) attributable to equity holders of the parent divided by the average equity attributable to the equity holders of the parent over the period. Twelve months rolling ROE at 3Q 2023 of 9.4% ($5.1 billion / $54.0 billion). Twelve months rolling ROE at 2Q 2023 of 10.3% ($5.5 billion / $53.7 billion).
  4. Equity book value per share is calculated as the Equity attributable to the equity holders of the parent divided by diluted number of shares at the end of the period. 3Q 2023 total equity of $55.4 billion divided by 838 million diluted shares outstanding equals $66/sh. 2Q 2023 total equity of $55.7 billion divided by 839 million diluted shares outstanding equals $66/sh.
  5. There were no exceptional items for 3Q 2023 and 2Q 2023. Exceptional items for 3Q 2022 of $0.4 billion included $0.5 billion of non-cash inventory related charges to reflect the net realizable value of inventory under IFRS with declining market prices in Europe and partially offset by a $0.1 billion purchase gain on the acquisition of a Hot Briquetted Iron ('HBI') plant in Texas.
  6. On March 9, 2023, ArcelorMittal announced that following receipt of customary regulatory approvals it has completed the acquisition of Companhia Siderúrgica do Pecém ('CSP') in Brazil for an enterprise value of approximately $2.2 billion. CSP has since been renamed ArcelorMittal Pecém and is a world-class operation, producing high-quality slab at a globally competitive cost. Its facility, located in the state of Ceará in northeast Brazil was commissioned in 2016. It operates a three million tonne capacity blast furnace and has access via conveyors to the Port of Pecém, a large-scale, deep-water port located 10 kilometers from the plant. The acquisition offers significant operational and financial synergies and brings with it the potential for further expansions, such as the option to add primary steelmaking capacity (including direct reduced iron) and rolling and finishing capacity. Given its location, ArcelorMittal Pecém also presents an opportunity to create a new low-carbon steelmaking hub, capitalizing on the state of Ceará's ambition to develop a low-cost green hydrogen hub in Pecém.
  7. ArcelorMittal Mines Canada, otherwise known as ArcelorMittal Mines and Infrastructure Canada.
  8. For further disclosure on the Company's alignment on EU Taxonomy please review the Integrated annual review published on the Group's website: https://annualreview2022.arcelormittal.com/ (https://annualreview2022.arcelormittal.com/)
  9. XCarb is designed to bring together all of ArcelorMittal's reduced, low and zero-carbon products and steelmaking activities, as well as wider initiatives and green innovation projects, into a single effort focused on achieving demonstrable progress towards carbon neutral steel. Alongside the new XCarb brand, we have launched three XCarb initiatives: the XCarb innovation fund, XCarb green steel certificates and XCarb recycled and renewably produced for products made via the Electric Arc Furnace route using scrap. The Company is offering green steel using a system of certificates (XCarb® green certificates). These will be issued by an independent auditor to certify tonnes of CO2 savings achieved through the Company's investment in decarbonization technologies in Europe. Net-zero equivalence is determined by assigning CO2 savings certificates equivalent to CO2 per tonne of steel produced in 2018 as baseline. The certificates will relate to the tonnes of CO2 saved in total, as a direct result of the decarbonization projects being implemented across a number of its European sites.
  10. On December 19, 2018, ArcelorMittal signed a $5.5 billion Revolving Credit Facility ("RCF"), with a five-year maturity plus two one-year extension options. During the fourth quarter of 2019, ArcelorMittal executed the option to extend the facility to December 19, 2024. The extension was completed for $5.4 billion of the available amount, with the remaining $0.1 billion remaining with a maturity of December 19, 2023. In December 2020, ArcelorMittal executed the second option to extend the facility, and the new maturity is now extended to December 19, 2025. On April 30, 2021, ArcelorMittal amended its $5.5 billion RCF to align with its sustainability and climate action strategy. On December 20, 2022, the RCF was amended as part of the transition from Libor to risk free rates. Loans in USD are now based on Term SOFR instead of Libor. As of September 30, 2023, the $5.5 billion revolving credit facility was fully available.
  11. The strategic envelope has $3.0 billion outstanding to be completed by 2026.
  12. Estimate of additional contribution to EBITDA, based on assumptions once ramped up to capacity and assuming prices/spreads generally in line with the averages of the 2015-2020 period.
  13. Company has repurchased 26.2 million shares during 9M 2023 including 7.1 million shares from the current 85 million share buy back program.
  14. Includes the expected transfer of ArcelorMittal Temirtau, ArcelorMittal Tubular Products Aktau (AMTPA) and the Kazakhstan holding company which owns the AMTPA investment.
  15. Figures as of October 31, 2023.

Third quarter 2023 earnings analyst conference call
Mr. Lakshmi Mittal and Aditya Mittal will host a conference call for members of the investment community to present and comment on the three-month period ended September 30, 2023 on: Thursday November 9, 2023, at 9.30am US Eastern time; 14.30pm London time and 15.30pm CET.

Webcast link: https://interface.eviscomedia.com/player/1153/

VIP Connect Conference Call:
Participants may pre-register and will receive dedicated dial-in details to easily and quickly access the call:
https://services.choruscall.it/DiamondPassRegistration/register?confirmationNumber=9165166&linkSecurityString=120bf1d2de

Please visit the results section on our website to listen to the reply once the event has finished https://corporate.arcelormittal.com/investors/results

Forward-Looking Statements

This document contains forward-looking information and statements about ArcelorMittal and its subsidiaries. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Forward-looking statements may be identified by the words "believe", "expect", "anticipate", "target" or similar expressions. Although ArcelorMittal's management believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of ArcelorMittal's securities are cautioned that forward-looking information and statements are subject to numerous risks and uncertainties, many of which are difficult to predict and generally beyond the control of ArcelorMittal, that could cause real results and developments to differ materially and adversely from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in the filings with the Luxembourg Stock Market Authority for the Financial Markets (Commission de Surveillance du Secteur Financier) and the United States Securities and Exchange Commission (the "SEC") made or to be made by ArcelorMittal, including ArcelorMittal's latest Annual Report on Form 20-F on file with the SEC. ArcelorMittal undertakes no obligation to publicly update its forward-looking statements, whether as a result of new information, future events, or otherwise.

About ArcelorMittal

ArcelorMittal is one of the world's leading steel and mining companies, with a presence in 60 countries and primary steelmaking facilities in 16 countries. In 2022, ArcelorMittal had revenues of $79.8 billion and crude steel production of 59 million metric tonnes, while iron ore production reached 45.3 million metric tonnes.

Our goal is to help build a better world with smarter steels. Steels made using innovative processes which use less energy, emit significantly less carbon and reduce costs. Steels that are cleaner, stronger and reusable. Steels for electric vehicles and renewable energy infrastructure that will support societies as they transform through this century. With steel at our core, our inventive people and an entrepreneurial culture at heart, we will support the world in making that change. This is what we believe it takes to be the steel company of the future.

ArcelorMittal is listed on the stock exchanges of New York

Enquiries

ArcelorMittal investor relations: +44 207 543 1128; Retail: +44 207 543 1156; SRI: +44 207 543 1156 and Bonds/credit: +33 1 71 92 10 26.

ArcelorMittal corporate communications) +44 207 629 7988. Contact: Paul Weigh +44 203 214 2419

Attachment

  • 3Q23 Earnings release Nov 9 Final.pdf (https://ml-eu.globenewswire.com/Resource/Download/3ad1d2e9-b77f-4dbe-82f1-bed1f9f65491)

Sun, 10 Sep 2023 17:11:00 -0500 de text/html https://www.finanznachrichten.de/nachrichten-2023-11/60609471-arcelormittal-s-a-arcelormittal-reports-third-quarter-2023-results-399.htm




CSWIP teaching | CSWIP Practice Test | CSWIP reality | CSWIP mock | CSWIP reality | CSWIP test contents | CSWIP tricks | CSWIP test Questions | CSWIP test syllabus | CSWIP candidate |


Killexams test Simulator
Killexams Questions and Answers
Killexams Exams List
Search Exams
CSWIP exam dump and training guide direct download
Training Exams List