ArcelorMittal announces that it is unable to safely and sustainably restart operations at ArcelorMittal Kryvyi Rih following multiple recent missile strikes

The expected charge of approximately US$1 billion is non-cash and principally concerns property, plant and equipment at Kryvyi Rih.

Rhea-AI Summary

On 25 September 2026, ArcelorMittal (MT) said it cannot safely and sustainably restart operations at its Kryvyi Rih subsidiary after missile strikes.

Four strikes over five weeks killed five people and injured 17 employees, one of whom remains in critical condition. The latest strike occurred on 21 September. Production facilities sustained extensive damage. ArcelorMittal has provided more than US$700 million to support continuity of operations at the subsidiary.

The company expects a non-cash impairment charge of approximately US$1 billion, principally for property, plant and equipment at Kryvyi Rih. It is discussing the plant’s future with the Government of Ukraine and intends to preserve its infrastructure so restarting production remains an option when peace returns.

Positive

• None.

Negative

• Kryvyi Rih: Unable to restart safely and sustainably after four missile strikes.
• Impairment: Approximately US$1 billion non-cash charge expected.

Market Context

The Sep 14 update was followed by a 2.32% 24-hour decline and concerned the same plant; this announc...

Analysis

The Sep 14 update was followed by a 2.32% 24-hour decline and concerned the same plant; this announcement adds the operational consequence that a safe, sustainable restart is not possible.

Key Figures

Missile strikes: 4 strikes Fatalities: 5 lives Employees injured: 17 employees +2 more

Missile strikes

4 strikes

Over five weeks at ArcelorMittal Kryvyi Rih

Fatalities

5 lives

Across the four attacks

Employees injured

17 employees

Across the four attacks; one remained in critical condition

Financial support

Over US$700 million

Provided to ArcelorMittal Kryvyi Rih to support continuity of operations

Expected non-cash impairment charge

Approximately US$1 billion

Principally reflects impairment of property, plant and equipment at ArcelorMittal Kryvyi Rih

Historical Context

2 past events · Latest: Sep 14

2 events

1. Sep 14

   Missile strike

   24h Move

   -2.3%

   Second site strike in five weeks killed two contractors; damage assessment and repair duration remained pending.

2. Aug 17

   Missile strike

   24h Move

   -0.0%

   Missile strike killed two and injured 13, damaging energy and blast furnace units.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

non-cash impairment charge, property, plant and equipment

2 terms

non-cash impairment charge financial

"expects to record a non-cash impairment charge of approximately US$1 billion"

A non-cash impairment charge is an accounting write-down that lowers the recorded value of an asset on a company’s books when that asset is judged to be worth less than before. It reduces reported profit for the period without using any cash — like lowering the listed price of a used car in your records — and matters to investors because it can shrink earnings, change valuation metrics, and signal potential problems that might affect future cash flow or credit terms.

property, plant and equipment financial

"impairment of property, plant and equipment at ArcelorMittal Kryvyi Rih"

Property, plant and equipment are a company’s long-term physical assets—land, buildings, factories, machinery, vehicles and similar items—used in day-to-day operations rather than held for sale. They appear on the balance sheet at cost less accumulated depreciation (except land) and represent the resources a business uses to produce goods or services; changes in these assets affect future production capacity, cash spending for maintenance or replacement, and reported profits through depreciation.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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25 September, 08:30 CET

Further to the statements issued on 17 August and 14 September following missile strikes on ArcelorMittal Kryvyi Rih, ArcelorMittal (‘the Company’) has with deep regret advised the Government of Ukraine that it is unable to restart operations at its Ukrainian subsidiary in a safe and sustainable manner.

Over the past five weeks, ArcelorMittal Kryvyi Rih has been targeted by four missile strikes, resulting in fatalities, injuries and extensive damage to production facilities. The most recent attack occurred on 21 September. In total the four attacks claimed five lives and injured 17 employees, one of whom remains in a critical condition.

Commenting, Mauro Longobardo, ArcelorMittal Kryvyi Rih CEO, said:
"It is with deep regret that we have concluded that we are no longer able to safely operate ArcelorMittal Kryvyi Rih. Since the war started, our people in Ukraine have worked tirelessly to keep the mines and plant operating. They have been the embodiment of bravery, in circumstances most of us cannot begin to imagine. We are discussing the future of the plant with the Government of Ukraine and will focus on preserving the infrastructure, so when peace finally returns, options for restarting production remain available.”

Since the start of the war in February 2022, ArcelorMittal’s priority has been the safety and economic security of its Ukrainian employees. Employees from across ArcelorMittal rallied to support their Ukrainian colleagues and a range of measures were introduced locally to support employees and their families. The strength and resilience shown by ArcelorMittal Kryvyi Rih’s workforce throughout the conflict has been extraordinary.

ArcelorMittal has also provided financial support to ensure continuity of operations at ArcelorMittal Kryvyi Rih, providing over US$700 million to ArcelorMittal Kryvyi Rih.

ArcelorMittal expects to record a non-cash impairment charge of approximately US$1 billion, principally reflecting the impairment of property, plant and equipment at ArcelorMittal Kryvyi Rih.

ENDS

About ArcelorMittal

ArcelorMittal is one of the world’s leading integrated steel and mining companies with a presence in 60 countries and primary steelmaking operations in 14 countries. It is the largest steel producer in Europe, among the largest in the Americas, and has a growing presence in Asia through its joint venture AM/NS India. ArcelorMittal sells its products to a diverse range of customers including the automotive, engineering, construction and machinery industries, and in 2025 generated revenues of $61.4 billion, produced 55.6 million metric tonnes of crude steel and 48.8 million tonnes of iron ore. Our purpose is to produce smarter steels for people and planet. Steels made using innovative processes which use less energy, emit significantly less carbon and reduce costs. Steels that are cleaner, stronger and reusable. Steels for the renewable energy infrastructure that will support societies as they transform through this century. With steel at our core, our inventive people and an entrepreneurial culture at heart, we will support the world in making that change.
 
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
http://corporate.arcelormittal.com/

ArcelorMittal Investor Relations contact information
General	+44 20 7543 1128
Retail	+44 20 3214 2893
Bonds/Credit	+33 157 955 035

ArcelorMittal Corporate Communications contact information
Paul Weigh
Tel:	+44 20 3214 2419
E-mail	press@arcelormittal.com

Attachment

• ArcelorMittal announces that it is unable to safely and sustainably restart operations at ArcelorMittal Kryvyi Rih following multiple recent missile strikes (250926)

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much of an impairment does ArcelorMittal expect for Kryvyi Rih?

ArcelorMittal expects a non-cash impairment charge of approximately US$1 billion, principally reflecting the impairment of property, plant and equipment at Kryvyi Rih.

What does ArcelorMittal plan to do with the Kryvyi Rih plant?

ArcelorMittal is discussing the plant’s future with the Government of Ukraine and intends to focus on preserving its infrastructure. The company wants to keep options for restarting production available when peace returns.