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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 announced on June 7, 2021 that it received shareholding notifications from Société Générale SA. The notifications indicate that Société Générale reached voting rights thresholds of 5.01% on June 2 and 4.70% on June 3. Since the latter threshold is below 5%, no adjustments to the Company’s shareholding structure disclosure are required. These notifications comply with the Luxembourg Transparency Law and are accessible via the Luxembourg Stock Exchange and the Company's website.
On June 8, 2021, ArcelorMittal held its Annual General Meeting and Extraordinary General Meeting, where over 73.5% of voting rights were represented. The meetings were conducted virtually due to Covid-19. Key resolutions included a dividend distribution of US$ 0.30 per share, re-election of directors, and a share capital reduction through the cancellation of repurchased shares. The full voting results will be available on their corporate website.
ArcelorMittal reported revenues of $53.3 billion in 2020, highlighting its significant presence in steel and mining.
ArcelorMittal has announced a share transaction as part of its ongoing share buyback program initiated on March 4, 2021. The transaction is related to a significant shareholder entering a share repurchase agreement to maintain their voting rights at 36.34% of ArcelorMittal's share capital, net of treasury shares. Details about this transaction and the share buyback program are accessible on the Luxembourg Stock Exchange and ArcelorMittal’s official website under the corporate governance section.
ArcelorMittal has completed its first XCarb™ innovation fund investment, committing $10 million to Heliogen, a renewable energy technology firm. This investment, announced on June 8, 2021, is part of a broader partnership aimed at integrating Heliogen's solar technology into ArcelorMittal's steel manufacturing processes. Heliogen's innovations are expected to facilitate the steel industry’s transition to carbon neutrality by harnessing solar energy for heat, electricity, and clean fuels, including green hydrogen.
ArcelorMittal reported a share transaction notification by Designated Persons, as announced under the Market Abuse Regulations. This transaction is linked to a share buyback program initiated on 4 March 2021, aimed at maintaining significant shareholder voting rights at 36.34% of total share capital.
Details of the transaction and the share buyback program are accessible on the Luxembourg Stock Exchange and ArcelorMittal's official website under the Investors section.
ArcelorMittal announced a share transaction by a Designated Person, reflecting ongoing activities related to its share buyback program initiated on 4 March 2021. A Significant Shareholder will sell shares to maintain their voting rights at 36.34% of the company’s share capital. Details of the transaction and the share buyback program can be accessed via the Luxembourg Stock Exchange and the ArcelorMittal website, ensuring transparency in compliance with Market Abuse Regulations.
ArcelorMittal released its 2020 integrated annual review titled ‘Inventing smarter steels for a better world’, emphasizing transparency and sustainability. The report outlines the Company’s strategic priorities, including health and safety, financial value, and environmental sustainability. CEO Aditya Mittal noted improvements in net debt and asset quality while addressing the challenges posed by the Covid-19 pandemic. The Company aims for carbon neutrality by 2050, with a current CO2 per tonne of steel at 2.08 tonnes. Key initiatives include the launch of XCarb™ and a commitment to enhance gender diversity in management.
ArcelorMittal announced on 19 May 2021 it received notifications from Société Générale SA regarding shareholding changes. The notifications indicated that Société Générale reached a voting rights threshold of 5.10% on 14 May 2021 and 4.72% on 17 May 2021. Since Société Générale's holdings fell below the 5% threshold by 17 May, no adjustments are needed for the company’s shareholding disclosure. These notifications comply with the Luxembourg Transparency Law and can be found on the Luxembourg Stock Exchange and the company's website.
On May 18, 2021, ArcelorMittal announced a share transaction notification related to its share buyback program initiated on March 4, 2021. This transaction ensures that the significant shareholder maintains a voting interest of 36.34% in the company. The details of the transaction are available on the Luxembourg Stock Exchange’s electronic database OAM and ArcelorMittal's official website under the Corporate Governance section. This buyback program aims to stabilize shareholding structures while enhancing shareholder value.
ArcelorMittal has announced a share transaction notification by a Designated Person, as per Market Abuse Regulations. The details are available on the Luxembourg Stock Exchange and on ArcelorMittal's official website. This disclosure is in compliance with Article 19(3) of Regulation (EU) No 596/2014. Investors can access this information under the 'Investors' section of the website.
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