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 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.
On February 4, 2022, French Prime Minister Jean Castex announced government support for ArcelorMittal’s €1.7 billion decarbonisation program in France. This initiative aims to reduce CO2 emissions by 40% (7.8 million tonnes/year) by 2030. Key investments include constructing an Electric Arc Furnace in Fos-sur-Mer and a Direct Reduction of Iron unit in Dunkirk. These facilities will gradually replace existing blast furnaces by 2030. The project is expected to bolster employment and align with France’s climate goals, contributing to carbon neutrality by 2050.
ArcelorMittal has released its fourth quarter 2021 EBITDA estimates based on consensus figures from 16 sell-side analysts. The consensus EBITDA for Q4 2021 is projected at $4,949 million, while the full year 2021 estimate stands at $19,360 million. These figures were compiled by Vuma Financial Services and reflect the predictions of a group of approximately 15-20 financial brokers covering the company. ArcelorMittal does not influence these estimates, which are based on independent analyst evaluations.
On January 26, 2022, ArcelorMittal notified that it received a shareholding notification from Société Générale SA. The notification indicates that Société Générale SA reached a threshold of 4.88% of potential voting rights as of January 21, 2022. This information is crucial for investors as it reflects changes in shareholding that may impact stock performance. The notification complies with the Transparency Law in Luxembourg regarding issuers of securities. Further details are available on the company’s website and the Luxembourg Stock Exchange’s OAM database.
On January 25, 2022, ArcelorMittal announced a US$5 million investment in H2Pro through its XCarb™ innovation fund, raising total commitments to US$180 million since March 2021. This investment is part of H2Pro's US$75 million Series B fundraising, aimed at developing a new hydrogen production technology with over 95% energy efficiency. H2Pro aims to produce hydrogen at costs below US$2/kg by 2023 and under US$1/kg by 2030. This marks the fifth investment by ArcelorMittal through its innovation fund, enhancing its commitment to sustainable energy solutions in steelmaking.
On January 19, 2022, ArcelorMittal announced it received a shareholding notification from BlackRock Inc., indicating that BlackRock's voting rights reached 5.24% on January 18, 2022. This notification is part of compliance with Luxembourg's transparency laws regarding significant shareholdings. The relevant details are accessible through the Luxembourg Stock Exchange and ArcelorMittal's corporate website. ArcelorMittal is a leading global steel and mining company with operations in 60 countries and significant revenue and production metrics from previous years.
ArcelorMittal has cancelled 45 million treasury shares to maintain appropriate levels, following a US$1 billion share buyback completed on December 28, 2021. Post-cancellation, the total shares outstanding has decreased to 937,809,772 from 982,809,772. This action aligns with the company’s efforts to manage its capital effectively. Further details on share buyback programs can be found on the company’s website and the Luxembourg Stock Exchange’s electronic database.
On January 10, 2022, ArcelorMittal announced the availability of a shareholding notification in the Luxembourg Stock Exchange’s OAM electronic database, in compliance with the Transparency Law. This notification is accessible on the Company’s website and signals adherence to the amended Luxembourg law on transparency requirements for issuers of securities. ArcelorMittal, the leading global steel and mining company, operates in 60 countries and generated revenues of $53.3 billion in 2020, underscoring its significant industry presence.