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 the notification of a share transaction involving a Designated Person, available on the Luxembourg Stock Exchange's OAM database. This transaction is part of the company's share buyback program initiated on 29 July 2021. A Significant Shareholder has entered an agreement to sell shares, ensuring their voting rights remain at 36.34% of the share capital. More information regarding the share buyback program can be found on the company’s website.
ArcelorMittal disclosed a significant shareholding change on August 16, 2021, reporting that Société Générale SA has acquired a 5.35% stake in the company as of August 5, 2021.
This acquisition was made through various financial instruments, reflecting the company's compliance with the Luxembourg Transparency Law, which mandates notifications when voting rights exceed the 5% threshold. The details are accessible on the Luxembourg Stock Exchange and ArcelorMittal's corporate website.
ArcelorMittal reported a share transaction by a Designated Person related to its share buyback program announced on 29 July 2021. This agreement ensures that a Significant Shareholder maintains a 36.34% voting share in the company. The transaction details are accessible on the Luxembourg Stock Exchange’s OAM database as well as ArcelorMittal’s official website. The company continues to prioritize innovation and sustainability in steel production, contributing to a cleaner environment.
ArcelorMittal announced shareholding notifications from Société Générale SA on August 6, 2021, concerning their voting rights. Société Générale SA reached a shareholding threshold of 5.40% on August 3, and 4.98% on August 4. As the notifications indicate that Société Générale SA is now below the 5% threshold, no adjustments to the company's shareholding disclosure are necessary. The notifications comply with Luxembourg's transparency regulations.
ArcelorMittal continues to focus on sustainable steel production and had revenues of $53.3 billion in 2020.
ArcelorMittal has announced the cancellation of 70 million treasury shares as part of a strategy approved by shareholders on June 8, 2021. This action aligns with the previously announced US$ 2.2 billion share buyback program initiated on July 29, 2021. Post-cancellation, the company will have 1,032,809,772 shares outstanding, reducing the previous count of 1,102,809,772 shares.
This move aims to maintain appropriate treasury share levels, contributing positively to shareholder value.
ArcelorMittal has published its half-year report for the period ending June 30, 2021. The report is available on the company's corporate website and has been filed with the U.S. SEC on Form 6-K. In 2020, ArcelorMittal reported revenues of $53.3 billion, with crude steel production reaching 71.5 million metric tonnes. The company emphasizes its commitment to sustainable steel production, aiming for cleaner processes to support future infrastructure, including electric vehicles and renewable energy.
ArcelorMittal plans a CAD$1.765 billion investment in decarbonization technologies at its Dofasco plant in Hamilton, Ontario, aiming to cut CO2 emissions by 60% within seven years. This initiative involves transitioning to Direct Reduced Iron (DRI) and Electric Arc Furnace (EAF) production, significantly lowering carbon output and creating around 2,500 jobs during construction. The project is contingent on additional support from the Government of Ontario, building on CAD$400 million already pledged by the federal government. This investment is part of ArcelorMittal's global target to reduce emissions by 25% by 2030.
ArcelorMittal announces a new $2.2 billion share buyback program following the annual general meeting authorization on 8 June 2021. The program aims to return surplus cash flow from 2021 and fulfill obligations under debt exchangeable into equity. Expected to commence on 2 August 2021 and complete by 31 December 2021, the program reflects confidence in the company's financial health. The initiative supports shareholder value by reducing share capital and is part of a broader strategy to return value to shareholders.
Summary not available.
ArcelorMittal (MT) reported impressive financial results for Q2 2021, showcasing strong recovery from 2020 disruptions. Key highlights include:
- Operating income surged to $4.4 billion, compared to $2.6 billion in Q1 2021.
- Net income reached $4.0 billion in Q2, up from $2.3 billion in Q1 2021.
- EBITDA was $5.1 billion, marking the best quarter since 2008.
- Steel shipments increased 2.4% to 16.1Mt.
- Debt decreased to $9.2 billion, down from $11.4 billion in Q1 2021.
Additionally, the company announced a new $2.2 billion share buyback program.