Welcome to our dedicated page for ArcelorMittal news (Ticker: MT), a resource for investors and traders seeking the latest updates and insights on ArcelorMittal stock.
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.
On April 27, 2021, ArcelorMittal reported a share transaction related to its share buyback program initiated on March 4, 2021. This involves a Significant Shareholder entering into an agreement to sell shares to maintain their voting rights at 36.34% of the company's share capital. The transaction details are available on the Luxembourg Stock Exchange’s electronic database and ArcelorMittal’s website under the Corporate Governance section. This move supports the company's strategic financial management and shareholder value preservation.
ArcelorMittal released its first quarter 2021 EBITDA consensus estimates, compiled from around 20 sell-side analysts via Vuma Financial Services. For Q1 2021, 17 analysts participated, projecting an average EBITDA of $2,965 million. The firm emphasizes that it does not influence these estimates and is not responsible for the analysts' opinions.
ArcelorMittal has announced a share transaction notification required under the EU Market Abuse Regulations. This transaction is linked to the company's ongoing share buyback program initiated on 4 March 2021. A significant shareholder has entered into a share repurchase agreement, ensuring their voting rights in ArcelorMittal's share capital remain at 36.34%. Further details can be accessed on the company's website.
On April 15, 2021, ArcelorMittal published its statutory financial statements for the parent company, covering the fiscal year ended December 31, 2020. The financial statements are accessible through the Luxembourg Stock Exchange electronic database and ArcelorMittal's Corporate Library online. This disclosure is vital for investors and stakeholders, providing insight into the company's financial performance during a challenging economic environment.
ArcelorMittal announces the renaming of its Italian operations to Acciaierie d’Italia following an investment agreement with Invitalia, an Italian state-owned company.
Invitalia has made a €400 million equity investment, acquiring a 38% stake in AM InvestCo Italy, which will also be rebranded. A potential second investment of up to €680 million is planned to complete the purchase of Ilva's business, potentially raising Invitalia's stake to 60%. This strategic move positions Acciaierie d’Italia Holding for independent operations, with ArcelorMittal retaining a 40% stake.
On 31 March 2021, Société Générale SA notified ArcelorMittal of an increase in its shareholding from 4.97% to 5.23%, effective 26 March 2021. This change reflects actual and potential voting rights, as required by the Transparency Law in Luxembourg. The details are available on the Luxembourg Stock Exchange’s OAM electronic database and ArcelorMittal's corporate website under ‘Investors - Corporate Governance - Shareholding structure’.
ArcelorMittal announced a share transaction notification by a Designated Person, in accordance with Article 19(3) of the European Market Abuse Regulations. This notification is accessible on the Luxembourg Stock Exchange’s electronic database OAM and also on ArcelorMittal’s website under the Investors section. These transactions are essential for maintaining transparency and compliance within the company's governance structure.
ArcelorMittal has reported a decrease in shareholding by Société Générale from 5.09% to 4.97% as of 22 March 2021. This notification, submitted on 25 March 2021, is in compliance with Luxembourg's transparency regulations concerning significant voting rights thresholds. The relevant information is available on the Luxembourg Stock Exchange and ArcelorMittal’s corporate website. The company remains a leader in the steel and mining sector.
ArcelorMittal has launched three initiatives under its XCarb™ brand aimed at achieving net zero carbon emissions by 2050. The initiatives include: XCarb™ green steel certificates for customers to reduce Scope 3 emissions, XCarb™ recycled and renewably produced steel with CO2 emissions as low as 300kg/tonne, and the XCarb™ innovation fund with an annual investment of up to $100 million for companies developing low-carbon technologies. By the end of 2022, the company expects to provide 600,000 tonnes of green steel certificates.
ArcelorMittal has announced the launch of the XCarb™ innovation fund, earmarking up to $100 million annually for investment in companies developing technologies aimed at achieving net zero carbon steelmaking. This initiative is part of ArcelorMittal's broader XCarb™ sustainability strategy, which targets substantial reductions in carbon emissions. Companies are required to present technologies that are commercially scalable and applicable to steelmaking. The fund will be overseen by an investment committee led by the CEO, focusing on transformative technologies.
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