ArcelorMittal SA

MT

Equity

ISIN LU1598757687 / Valor 36780521

Euronext - Euronext Amsterdam (2024-12-23)

EUR 22.13-0.58%

ArcelorMittal SA
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About company

ArcelorMittal SA is a global steel and mining company that operates in various regions around the world, including Mexico and Europe. The company is known for its innovative solar tracking technology used in projects like the Beryl Solar Farm in Australia, as well as its focus on digitalization and Industry 4.0 technologies to improve business models and generate new revenue. ArcelorMittal also works closely with automotive partners to develop advanced high strength steels for the auto industry, addressing the need for materials that meet higher performance demands. Additionally, the company has collaborated with Zeleros to analyze the behavior of steel grades for optimal use in hyperloop transportation systems, showcasing its commitment to innovation and sustainability in the steel industry.

Summarized from source with an LLMView SourceSector: Energy

Operating Income and EBITDA

In the third quarter of 2024, ArcelorMittal SA reported an operating income of $0.7 billion, a decrease from $1.0 billion in the second quarter of 2024. The company's EBITDA for the same period was $1.6 billion, down from $1.9 billion in the previous quarter. Despite these declines, the EBITDA per tonne remained above the Group's long-term historical average, reflecting structural improvements.

Net Debt and Financial Strength

ArcelorMittal SA's net debt increased to $6.2 billion at the end of the third quarter of 2024, up from $5.2 billion at the end of the second quarter. This increase was primarily due to the acquisition of a 28.4% stake in Vallourec for $1.0 billion and $0.3 billion in share buybacks. The company's gross debt stood at $11.3 billion, with cash and cash equivalents of $5.1 billion as of September 30, 2024.

Shareholder Returns

During the third quarter of 2024, ArcelorMittal SA repurchased 1.5% of its outstanding shares, contributing to a total reduction in fully diluted share count of 37% since September 2020. The company remains committed to returning a minimum of 50% of post-dividend free cash flow to shareholders through its share buyback programs.

Sales and Production

ArcelorMittal SA's sales for the third quarter of 2024 were $15.2 billion, a decrease from $16.2 billion in the second quarter of 2024. Crude steel production was 14.8 million tonnes, slightly up from 14.7 million tonnes in the previous quarter. Steel shipments totaled 13.4 million tonnes, down from 13.9 million tonnes in the second quarter.

Outlook and Strategic Projects

ArcelorMittal SA expects a positive free cash flow outlook for 2024 and beyond, with capital expenditures anticipated to be within the previously communicated guidance range of $4.5 billion to $5.0 billion. The completion of strategic growth projects is expected to generate additional EBITDA and investable cash flow in the coming periods. The company continues to optimize its decarbonization pathway to remain competitive and achieve appropriate returns on investment.

Summarized from source with an LLMView Source

Key figures

-15.2%1Y

-22.0%3Y

38.7%5Y

Performance

26.0%1Y

34.6%3Y

44.3%5Y

Volatility