ArcelorMittal announces the publication of its Annual Report 2025 on Form 20 F and the publication of its 2025 annual report
Rhea-AI Summary
ArcelorMittal (NYSE: MT) filed its Annual Report 2025 on Form 20-F and published its 2025 annual report on 6 March 2026. Key 2025 highlights include $1.1bn strategic capex, $0.7bn returned to shareholders, credit rating upgrades to Baa2/BBB, iron ore reserves of c.3.7bn tonnes and iron ore self-sufficiency of 72%.
The Board proposed a $0.60/share dividend for FY2026 and confirmed a policy to return at least 50% of post-dividend free cash flow to shareholders via buybacks.
Positive
- Credit ratings upgraded to Baa2 (Moody’s) and BBB (S&P)
- Iron ore self-sufficiency increased to 72% in 2025
- Strategic capital expenditure of $1.1bn in 2025
- Returned $0.7bn to shareholders in 2025 (dividends + buybacks)
- Planned EAF capacity expansion of 3.4 Mt by end-2026
Negative
- Significant Shareholder stake at 44.6% approaches 45% free-float threshold
News Market Reaction – MT
In the Mar 9 session, MT gained 0.78%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Feb 11 | Insider transaction filing | Neutral | +5.6% | Disclosure of designated person share transaction under EU Market Abuse rules. |
| Feb 10 | Decarbonisation investment | Positive | +1.6% | €1.3bn electric arc furnace project in Dunkirk to cut CO2 intensity. |
| Feb 05 | FY 2025 earnings | Positive | +2.3% | Reported FY 2025 EBITDA, net income, EPS and proposed higher dividend. |
| Feb 03 | Consensus publication | Neutral | +0.3% | Release of sell-side consensus for 4Q and FY 2025 financial metrics. |
| Jan 30 | Liberia MDA agreement | Positive | -3.3% | Long-term Liberia concession extension and multi-billion expansion framework. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
News and earnings have generally seen positive alignment with share price moves, with one notable divergence on the Liberia agreement.
Over the last few months, ArcelorMittal has reported multiple strategically important updates, including FY 2025 results on Feb 5, 2026, consensus disclosures, and a major Liberia Mineral Development Agreement extending to 2050. These coincided mostly with positive 24-hour price reactions, except the Liberia deal, which saw a -3.26% move despite expansion plans. Today’s Annual Report and capital return details build on that sequence of operational and financial disclosures.
Key Terms
form 20-f regulatory
securities and exchange commission (sec) regulatory
free float financial
memorandum of understanding regulatory
standstill provision regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
6 March 2026, 23:55 CET
ArcelorMittal has today filed its Annual Report 2025 on Form 20-F with the U.S. Securities and Exchange Commission (SEC). The report is now available at http://corporate.arcelormittal.com > Financial reports.
ArcelorMittal will send a hard copy of the Form 20-F Annual Report for 2025, which includes the audited financial statements, to shareholders free of charge upon request.
ArcelorMittal also has published its annual report for the year ended 31 December 2025. The report has been filed with the electronic database of the Luxembourg Stock Exchange (www.bourse.lu) and is available at http://corporate.arcelormittal.com > Financial reports
Highlights of FY 2025 include:
- Safety: in the first year of our three-year transformation program, the Company saw tangible progress across all safety KPIs in 2025, including a significant improvement in fatality prevention
- Capital allocation: The Company maintained a disciplined and balanced capital allocation, investing
$1.1 b n in strategic capex and returning$0.7b n to shareholders ($0.4b n in dividends and$0.3b n in share buybacks). Balance sheet strength was reflected in the credit rating upgrades by both Moody’s (to Baa2 stable) and S&P (to BBB stable) in 2025 - Enhanced iron ore vertical integration: ArcelorMittal is among the largest iron ore producers in the world with total iron ore reserves of c. 3.7bn tonnes. Iron ore self-sufficiency increased to
72% in 2025 (up from58% in 2024) and is expected to increase further as the Liberia expansion project to 20Mtpa ramps up - Actively enabling energy transition: Targeted investments in high-quality renewable assets (2.8 GW by 2028), expanding EAF capacity by 3.4 Mt by end-2026, and growing automotive electrical steel production (0.4Mt NOES by 2028) supporting margins, returns on capital employed, and long-term sustainable growth
- Industry leading R&D: ArcelorMittal’s global R&D footprint spans 14 sites in 9 countries, with
$335 million spent in 2025 demonstrating sustained commitment to advance steel, mining, decarbonisation technologies and AI-enhanced digital models - Capital returns: The Board has proposed a FY 2026 dividend of
$0.60 /share, up from$0.55 /share in 2025 and double the 2021 level. In addition, per its defined capital return policy, the Company will continue to return a minimum of50% of post-dividend free cash flow to shareholders through share buybacks. - Significant Shareholder participation in the share buyback program announced on 7 April 2025 (the “Program”)*: The Significant Shareholder, having attained a shareholding position nearing the
45% threshold set under the 2006 Memorandum of Understanding** (entered into in connection with the merger of Mittal Steel and Arcelor, primarily to ensure a robust free float), has on 5 March 2026 entered into a share repurchase agreement to sell shares to ArcelorMittal during the Program, in the proportion to the Significant Shareholder’s current stake (44.6% of issued shares less shares held in treasury). Shares repurchased from the Significant Shareholder will be made at the same average price as the shares purchased by the Company under the Program on the relevant trading day in the open market.
*For further details, please refer to the press release dated 7 April 2025 announcing the commencement of a new share buyback program over the period 2025-2030: ArcelorMittal announces the commencement of a new share buyback program over the period 2025-2030 | ArcelorMittal
** Please refer to the section ‘Additional information—Material contracts—Memorandum of Understanding’ in the Form 20-F/Annual Report for a description of the standstill provision in the 2006 Memorandum of Understanding.
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 2024 generated revenues of
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 | +33 171 921 026 |
| Bonds/Credit | +33 171 921 026 |
| ArcelorMittal Corporate Communications contact information | |
| Paul Weigh | |
| Tel: | +44 20 3214 2419 |
| press@arcelormittal.com | |
