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ArcelorMittal S.A., headquartered in Luxembourg City, is a Luxembourgian multinational steel manufacturing corporation established in 2006 through the merger of Arcelor and Indian-owned Mittal Steel. As one of the world's leading integrated steel and mining companies, ArcelorMittal operates across 60 countries with primary steelmaking facilities in 15 countries.
The company's operational segments include NAFTA, Brazil, Europe, ACIS (Africa, CIS, and other countries), and Mining. It derives the majority of its revenue from the Europe segment, which specializes in manufacturing and selling hot-rolled coil, cold-rolled coil, coated products, tinplate, plate, and slabs. The products cater to sectors such as automotive, general industry, and packaging. Additionally, the segment produces long products like sections, wire rods, rebar, billets, blooms, wire drawing, and tubular products. Geographically, the United States contributes significantly to its revenue.
ArcelorMittal has recently announced its fourth quarter and full year 2023 sell-side analysts' consensus figures, highlighting a calculated collective outlook based on analysts' estimates. The consensus, managed by Visible Alpha, includes the impact of the sale of the Company’s Kazakhstan operations to the Qazaqstan Investment Corporation, effective December 7, 2023. Additionally, due to revisions in the expected future cash flows of Acciaierie d'Italia (ADI), the company anticipates fully impairing its investment in ADI, reflecting in the fourth-quarter results.
Financially, ArcelorMittal reported an EBITDA of $7.6 billion for FY 2023 and a free cash flow of $2.9 billion. The net income for the same period stands at $0.9 billion, impacted by non-cash, non-recurring items like the $2.4 billion effect of the Kazakhstan operations' disposal and a $1.4 billion impairment on ADI. Despite these challenges, the company maintains a robust financial position with a net debt of $2.9 billion as of the end of 2023 and liquidity of $13.2 billion.
In terms of growth and sustainability, ArcelorMittal is advancing several strategic projects, including substantial investments in low carbon steel production and renewable energy infrastructure. The company is committed to reducing its carbon footprint through innovative processes that use less energy and emit significantly less carbon. Their XCarb® recycled and renewably produced steel is set to feature prominently in the Paris Olympics, marking a significant step in their decarbonization strategy.
ArcelorMittal's financial strength is reinforced by its share repurchase programs, which have reduced the fully diluted shares outstanding by 33% since September 2020. Furthermore, the company has a diverse investment portfolio, including significant strategic joint ventures like AMNS India and Calvert in North America.
Looking ahead, ArcelorMittal remains positive about medium to long-term steel demand, anticipating a growth in apparent steel consumption globally. The company continues to prioritize safety, having commissioned a comprehensive independent safety audit to enhance its operational protocols and culture.
ArcelorMittal is listed on stock exchanges in New York, Amsterdam, Paris, Luxembourg, and Madrid under the symbol MT.
ArcelorMittal has announced that Stephanie Werner-Dietz will join as Executive Vice President and global head of human resources starting 1st September 2022. She succeeds Bart Wille, who is retiring after 37 years in HR management. Previously, Stephanie served as Chief People Officer at Nokia, responsible for HR and safety. Her background includes nearly 25 years of HR leadership across multiple countries. She will focus on refining the company's people strategy, emphasizing diversity, digitalization, and decarbonization.
ArcelorMittal announced that notifications of share transactions by Designated Persons are available on the Luxembourg Stock Exchange and its website. This information complies with the EU Market Abuse Regulation, ensuring transparency in stock trading activities by executives and directors. ArcelorMittal, the leading steel and mining company, reported revenues of $76.6 billion in 2021, with significant production metrics, including 69.1 million metric tonnes of crude steel and 50.9 million metric tonnes of iron ore. The company emphasizes its commitment to sustainability and innovative steel production processes.
ArcelorMittal announced the cancellation of 60 million treasury shares to maintain appropriate levels, impacting its total shares issued, now 877,809,772 compared to 937,809,772 prior to the cancellation. This move follows a US$1 billion share buyback initiated on 5 May 2022. The company aims to optimize its capital structure while adhering to transparency regulations as per Luxembourg law. ArcelorMittal, a leader in steel and mining, reported 2021 revenues of $76.6 billion and plans innovative, sustainable steel production.
ArcelorMittal has announced a second share buyback program worth US$1 billion, authorized at the annual general meeting on 4 May 2022. This adds to the previously announced US$1 billion buyback, totaling US$2 billion for 2022. The buyback aims to fulfill obligations under equity exchangeable debt, reduce share capital, and meet employee share program commitments. The program's completion is dependent on market conditions and is expected by the end of 2022. Notably, a significant shareholder has opted out of this program.
ArcelorMittal (MT) reported its 1Q 2022 results with an operating income of $4.4 billion and net income of $4.1 billion, reflecting resilience despite ongoing challenges from the Ukraine conflict. Free cash flow reached $1.5 billion, and EPS increased by 9% to $4.28. Although steel shipments declined 2.7% to 15.3 million tonnes, sales surged 5% year-over-year to $21.8 billion due to higher average steel prices. The company announced a $2 billion buyback program and ongoing investment in decarbonization projects, including renewable energy initiatives.
On May 4, 2022, ArcelorMittal held its Annual General Meeting (AGM) and Extraordinary General Meeting, with over 72% of voting rights represented. The meetings were conducted virtually due to Covid-19 restrictions. Shareholders approved key resolutions, including a dividend distribution of US$0.38 per share and the re-election of directors Mrs. Vanish Mittal Bhatia and Mr. Karel De Gucht for three years. A significant decision was made to cancel shares as part of a share buyback program, reducing the company’s issued share capital.
ArcelorMittal has released its 2021 Integrated Annual Review, emphasizing its commitment to transparency and responsibility. The report highlights support for 26,000 employees in Ukraine, investments in safety culture improvements, and significant decarbonization initiatives totaling $5.6 billion across several countries. With a focus on sustainable growth, the company aims to double female leadership by 2030 and achieve net zero emissions by 2050. The review underscores ArcelorMittal's strong financial results, driven by strategic investments and a commitment to environmental and social responsibility.
ArcelorMittal has successfully completed its US$1 billion share buyback program, announced on February 11, 2022. As of April 25, 2022, the company repurchased 31,751,960 shares, totaling €910,760,633.77 (approximately US$1 billion) at an average price of €28.68 per share. This buyback aims to enhance shareholder value and reflects the company's strong financial position. ArcelorMittal, a leading steel and mining company, reported revenues of US$76.6 billion in 2021, with plans to support sustainable steel production.
On April 25, 2022, ArcelorMittal announced its first quarter 2022 EBITDA sell-side analysts’ consensus, highlighting an average EBITDA estimate of $4,566 million from 17 analysts. This consensus was compiled by Vuma Consensus, based on analysts who consistently follow the company. ArcelorMittal emphasized it does not influence these estimates, which are formed independently by coverage analysts from a group of approximately 15-20 brokers. The company’s performance metrics, including revenues of $76.6 billion in 2021, indicate strong market positioning.
ArcelorMittal has signed a deal to acquire an 80% stake in voestalpine's Hot Briquetted Iron (HBI) plant in Corpus Christi, Texas, valued at $1 billion. The plant, operational since 2016, produces 2 million tonnes of HBI annually, a critical feedstock for steel production. A long-term offtake agreement ensures supply to voestalpine's mills in Austria. This acquisition enhances ArcelorMittal's capabilities in producing high-quality metallic feedstock and supports its decarbonisation goals through sustainable hydrogen-based production.
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