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.
ArcelorMittal has released its statutory financial statements for the year ending December 31, 2022, filing them with the Luxembourg Stock Exchange. In 2022, the company reported revenues of $79.8 billion, with crude steel production totaling 59 million metric tonnes and iron ore production at 50.9 million metric tonnes. The financial statements are accessible through the Luxembourg Stock Exchange's electronic database and on ArcelorMittal's website.
As the world's leading steel company, ArcelorMittal operates in 60 countries, aiming to produce innovative and sustainable steels that benefit both people and the planet.
ArcelorMittal has announced its upcoming Annual General Meeting and Extraordinary General Meeting for shareholders on 2 May 2023 at its office in Luxembourg. Shareholders eligible to vote must be on the record as of 18 April 2023. The company will make detailed documents, including the Annual Report 2022 and voting forms, available on its website. In 2022, ArcelorMittal reported revenues of $79.8 billion and produced 59 million metric tonnes of crude steel. Investors seeking information can contact the company's Investor Relations.
ArcelorMittal announces that AMNS Luxembourg Holding S.A., the parent of AM/NS India, has secured a $5 billion loan from the Japan Bank for International Cooperation and other banks. This funding will facilitate the expansion of AM/NS India's steelmaking capacity at the Hazira plant from 9 million tonnes to 15 million tonnes. The project, initiated in October 2022, also includes the development of downstream facilities to produce value-added steels for sectors like defence, automotive, and infrastructure. It is expected to create over 60,000 jobs.
On March 30, 2023, ArcelorMittal signed a memorandum of understanding with the Japan Bank for International Cooperation to enhance their collaboration in steelmaking and decarbonization efforts. This MOU builds on JBIC’s previous financing commitments for ArcelorMittal’s joint ventures with Nippon Steel in India and the US. The partnership aims to explore business opportunities with Japanese firms, particularly in low-carbon steelmaking technologies. In 2022, ArcelorMittal reported revenues of $79.8 billion and crude steel production of 59 million metric tonnes.
ArcelorMittal has announced that notifications of share transactions by Designated Persons, including Directors and Executive Officers, are now accessible via the Luxembourg Stock Exchange’s electronic database OAM and on its official website. This update aligns with Article 19(3) of Regulation (EU) No 596/2014 concerning market abuse. Interested parties can view the details of these transactions by visiting the specified websites.
ArcelorMittal has been announced as an Official Partner for the Paris 2024 Olympic and Paralympic Games. The company will manufacture key symbols of the Games, including the Olympic and Paralympic torches and cauldrons, as well as large rings and agitos for installation in Paris. These items will be crafted using steel with a low CO2 footprint, utilizing recycled materials and low carbon energy. This partnership aligns with the event's environmental goals, highlighting ArcelorMittal's commitment to sustainability and innovation in steelmaking.
ArcelorMittal has completed the acquisition of Companhia Siderúrgica do Pecém (CSP) in Brazil for approximately $2.2 billion, following necessary regulatory approvals. CSP is a state-of-the-art facility with a capacity of three million tonnes, strategically located near the Port of Pecém. The acquisition is expected to deliver significant operational and financial synergies, alongside prospects for future expansions in steelmaking and green hydrogen initiatives. CEO Aditya Mittal emphasized the strategic importance of this acquisition, highlighting potential growth in the North and South American markets and pathways for decarbonization.
ArcelorMittal has released its annual report for 2022, detailing significant financial figures. The company reported revenues of $79.8 billion and produced 59 million metric tonnes of crude steel, alongside 50.9 million metric tonnes of iron ore. The report emphasizes ArcelorMittal's commitment to advancing sustainable steel production and supporting industries such as electric vehicles and renewable energy. This information is now available on the Luxembourg Stock Exchange and the company's corporate website.
On March 8, 2023, ArcelorMittal filed its Annual Report 2022 on Form 20-F with the U.S. Securities and Exchange Commission (SEC). The report highlights revenues of $79.8 billion, crude steel production of 59 million metric tonnes, and iron ore production of 50.9 million metric tonnes for 2022. Shareholders can request a hard copy of the report, which includes audited financial statements, free of charge. ArcelorMittal operates in 60 countries and emphasizes producing environmentally friendly steel for electric vehicles and renewable energy. The report is available online for public access.
ArcelorMittal (MT) reported its financial results for FY 2022, showing a significant decline in operating income to $10.3 billion from $17.0 billion in FY 2021, alongside an adjusted net income of $10.6 billion compared to $14.9 billion in the prior year. The company generated $6.4 billion in free cash flow and maintained a low net debt of $2.2 billion. Despite a 11.2% drop in steel shipments to 55.9 million metric tonnes, revenues rose to $79.8 billion due to increased average steel prices. Looking ahead, ArcelorMittal expects global steel consumption to grow by 2-3% in 2023 and aims for a 5% increase in its shipments. Shareholders can anticipate a proposed increase in the annual base dividend to $0.44 per share.
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