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 reports news on its integrated steel and mining operations, including quarterly results, steel shipments, iron ore production, working capital, debt and capital allocation. Company updates also cover regional steel-market conditions, operating capacity, electric-arc furnace investments, and product demand from automotive, engineering, construction, machinery and packaging customers.
Recurring corporate news includes Annual General Meeting and Extraordinary General Meeting materials, dividend actions, share buybacks and share cancellations, director elections, statutory financial statements, Form 20-F annual reporting, sustainability reporting, safety transformation, decarbonisation initiatives, analyst-consensus publications and designated-person share-transaction notifications under EU market abuse rules.
ArcelorMittal is investing over €300 million, backed by the French government, to establish a new production unit for electrical steels at its Mardyck site in northern France. This project will create 100+ jobs and is set to enhance the production capacity for electric vehicle engines. The facility, with a capacity of 200,000 tonnes, aims to support France's electromobility sector and align with EU CO2 emission reduction goals. The new unit will commence operations in 2024, reinforcing ArcelorMittal's commitment to sustainable steel production.
ArcelorMittal has released its annual report for the year ending December 31, 2021, now available on the Luxembourg Stock Exchange's electronic database and their corporate website. In 2021, the company achieved revenues of $76.6 billion and produced 69.1 million metric tonnes of crude steel, alongside 50.9 million metric tonnes of iron ore. ArcelorMittal emphasizes its commitment to sustainability, aiming to develop innovative and cleaner steel production processes catering to electric vehicles and renewable energy infrastructures.
ArcelorMittal has submitted its Annual Report 2021 on Form 20-F to the U.S. SEC, now accessible online. The report features audited financial statements detailing a revenue of $76.6 billion and crude steel production of 69.1 million metric tonnes. Shareholders can request a hard copy free of charge. The company aims to advance sustainable steel production to support renewable energy and electric vehicles, asserting its position as a leading steel and mining entity operating across 60 countries.
ArcelorMittal has decided to idle its steelmaking operations in Kryvyi Rih, Ukraine, for the safety of its personnel amidst ongoing tensions. The facility had already reduced production to one-third of its normal capacity. The idling process will take 7 to 10 days to ensure asset integrity. ArcelorMittal expresses deep concern for the situation in Ukraine and the safety of its employees.
In 2021, ArcelorMittal reported revenues of $76.6 billion, with crude steel production at 69.1 million metric tonnes, and iron ore production reaching 50.9 million metric tonnes.
On February 28, 2022, ArcelorMittal announced a share transaction concerning its buyback program. A Designated Person, connected to the company, has notified the Luxembourg Stock Exchange of a share sale to maintain its significant shareholder's voting rights at 36.34%. This initiative is part of the broader share buyback program initiated on February 11, 2022. Additional details regarding this program can be accessed on ArcelorMittal's website.
On February 11, 2022, ArcelorMittal announced a new $1 billion share buyback program. This program allows its Significant Shareholder to maintain their percentage holding as shares are bought back. However, the Significant Shareholder has opted not to sell shares to ArcelorMittal, resulting in an increase of its holding from 36.3% as of January 31, 2022. In 2021, the company generated revenues of $76.6 billion with crude steel production at 69.1 million metric tonnes.
On February 22, 2022, ArcelorMittal disclosed a share transaction notification linked to its share buyback program initiated on February 11, 2022. A significant shareholder has agreed to sell shares to maintain a 36.34% voting rights stake in the company. This transaction is available in the Luxembourg Stock Exchange's database and on ArcelorMittal's website. The company aims to balance its capital structure while pursuing its commitment to innovation and sustainability in steel production.
ArcelorMittal announced a CAD$1.8 billion investment in decarbonisation technologies at its Dofasco plant in Hamilton, Ontario, slated for completion by 2028. This initiative aims to reduce annual CO2 emissions by approximately 3 million tonnes, representing a 60% decrease. The project is supported by investments from the Government of Canada (CAD$400 million) and the Government of Ontario (CAD$500 million). The transition includes establishing a DRI facility with a 2.5 million tonne capacity and an EAF capable of producing 2.4 million tonnes of high-quality steel.
On February 11, 2022, ArcelorMittal announced a new share buyback program worth US$1 billion, authorized by shareholders on June 8, 2021. The program aims to be completed in the first half of 2022, subject to market conditions. The shares acquired will help meet obligations under debt exchangeable into equity, reduce share capital, and fulfill employee share program commitments. In 2021, ArcelorMittal reported revenues of $76.6 billion and significant crude steel production of 69.1 million metric tonnes.
ArcelorMittal reported strong financial results for FY 2021, achieving an operating income of $17.0 billion and EBITDA of $19.4 billion, sharply up from $2.1 billion and $4.3 billion in 2020. The company's net income reached $15.0 billion, significantly improving from a loss of $733 million in the prior year. EPS increased to $13.53, while gross debt decreased to $8.4 billion. ArcelorMittal focuses on sustainability, targeting a 25% reduction in CO2e intensity by 2030 and announcing significant investments in decarbonization projects in France and other locations.