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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 released its statutory financial statements for the year ending 31 December 2021. The documents are available on the Luxembourg Stock Exchange's electronic database and ArcelorMittal's corporate website. In 2021, the company reported $76.6 billion in revenues and produced 69.1 million metric tonnes of crude steel, along with 50.9 million metric tonnes of iron ore. The company emphasizes its commitment to developing innovative steel solutions that are sustainable and support the transition to greener energy.
ArcelorMittal announces the convening notice for its Annual and Extraordinary General Meetings on May 4, 2022. Due to Covid-19, the meetings will be held virtually, allowing shareholders to vote electronically or by proxy. Shareholders must be on the record as of April 20, 2022, to participate. A virtual Q&A session is scheduled for the same day at 14:00 CET. Meeting documentation, including the Annual Report 2021, will be available on the company's website.
ArcelorMittal has made a notification regarding a share transaction by a Designated Person, in compliance with EU Market Abuse Regulations. This notification is accessible via the Luxembourg Stock Exchange’s OAM database and ArcelorMittal's website. In 2021, the company reported revenues of $76.6 billion and crude steel production of 69.1 million metric tonnes. ArcelorMittal aims to innovate with cleaner, stronger steels while focusing on electric vehicles and renewable energy infrastructure.
On March 22, 2022, ArcelorMittal disclosed a share transaction by a Designated Person in compliance with the Market Abuse Regulations. This notification is accessible via the Luxembourg Stock Exchange and ArcelorMittal’s website. The company is a leading global steel and mining firm, reporting revenues of $76.6 billion and crude steel production of 69.1 million metric tonnes in 2021. ArcelorMittal aims to innovate environmentally friendly steel manufacturing processes to support future infrastructure and vehicle needs.
ArcelorMittal has partnered with Greenko Group to develop a 975 MW renewable energy project in India, combining solar and wind energy supported by hydro pumped storage. The $0.6 billion project will supply 250 MW of uninterrupted renewable power annually to AM/NS India under a 25-year off-take agreement, reducing carbon emissions by 1.5 million tonnes per year. This initiative aims to lower electricity costs and enhance returns on investment, with project commissioning expected by mid-2024.
On March 16, 2022, ArcelorMittal announced it received a shareholding notification from BlackRock Inc., indicating a drop in voting rights to below 5% as of March 15, 2022. This notification complies with Luxembourg's Transparency Law regarding shareholding thresholds. The notification is accessible via the Luxembourg Stock Exchange and the company’s website. ArcelorMittal is a leading global steel and mining company, reporting revenues of $76.6 billion in 2021, with significant production metrics in steel and iron ore.
ArcelorMittal is investing over €300 million, backed by the French government, to establish a new production unit for electrical steels at its Mardyck site in northern France. This project will create 100+ jobs and is set to enhance the production capacity for electric vehicle engines. The facility, with a capacity of 200,000 tonnes, aims to support France's electromobility sector and align with EU CO2 emission reduction goals. The new unit will commence operations in 2024, reinforcing ArcelorMittal's commitment to sustainable steel production.
ArcelorMittal has released its annual report for the year ending December 31, 2021, now available on the Luxembourg Stock Exchange's electronic database and their corporate website. In 2021, the company achieved revenues of $76.6 billion and produced 69.1 million metric tonnes of crude steel, alongside 50.9 million metric tonnes of iron ore. ArcelorMittal emphasizes its commitment to sustainability, aiming to develop innovative and cleaner steel production processes catering to electric vehicles and renewable energy infrastructures.
ArcelorMittal has submitted its Annual Report 2021 on Form 20-F to the U.S. SEC, now accessible online. The report features audited financial statements detailing a revenue of $76.6 billion and crude steel production of 69.1 million metric tonnes. Shareholders can request a hard copy free of charge. The company aims to advance sustainable steel production to support renewable energy and electric vehicles, asserting its position as a leading steel and mining entity operating across 60 countries.
ArcelorMittal has decided to idle its steelmaking operations in Kryvyi Rih, Ukraine, for the safety of its personnel amidst ongoing tensions. The facility had already reduced production to one-third of its normal capacity. The idling process will take 7 to 10 days to ensure asset integrity. ArcelorMittal expresses deep concern for the situation in Ukraine and the safety of its employees.
In 2021, ArcelorMittal reported revenues of $76.6 billion, with crude steel production at 69.1 million metric tonnes, and iron ore production reaching 50.9 million metric tonnes.
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