Arcelormittal SEC Filings

ArcelorMittal’s controlling shareholder group has updated its ownership and buyback arrangements. Lumen Investments now directly owns 275,840,595 ArcelorMittal shares, representing 36.2% of shares outstanding, while Nuavam holds 63,658,348 shares, or 8.4%.

Through Grandel Pte. Ltd. and the Platinum Trust structure, Lakshmi and Usha Mittal and HSBC Trustee (C.I.) Limited collectively beneficially own and control voting and disposition rights over 339,498,943 shares, or 44.6% of ArcelorMittal’s outstanding stock, with Mr. Mittal’s total beneficial ownership at 340,152,563 shares, or 44.7%. The filing also details a March 5, 2026 share repurchase agreement under ArcelorMittal’s buy-back program, under which ArcelorMittal will repurchase shares from Lumen each trading day it buys back stock, at the same weighted average market price, so that Lumen’s sales represent 44.6% of the combined daily repurchases.

ArcelorMittal reports that notifications of share transactions by Designated Persons, such as directors and executive officers, are now available through the Luxembourg Stock Exchange’s OAM database and on its own website under “Share Transactions by Management.” This improves access to information on management trading activity for investors.

The company also highlights its global scale as an integrated steel and mining group operating in 60 countries, with primary steelmaking in 14 countries. In 2024, ArcelorMittal generated $62.4 billion of revenue, produced 57.9 million metric tonnes of crude steel and 42.4 million tonnes of iron ore, and remains listed on major exchanges in New York, Amsterdam, Paris, Luxembourg and Spain.

ArcelorMittal has filed its Annual Report 2025 on Form 20-F with the SEC and published its 2025 annual report in Luxembourg. The reports include audited financial statements and are available online, with hard copies of the Form 20-F offered to shareholders free of charge on request.

Highlights for 2025 include $1.1 billion of strategic capital expenditure and $0.7 billion returned to shareholders, split between $0.4 billion of dividends and $0.3 billion of share buybacks. The Board has proposed a FY 2026 dividend of $0.60 per share, up from $0.55 per share in 2025.

The company reports improved safety performance in the first year of its three-year transformation program, stronger balance sheet metrics reflected in credit rating upgrades by Moody’s to Baa2 (stable) and S&P to BBB (stable), and increased iron ore self-sufficiency to 72% in 2025, up from 58% in 2024. It is investing in energy transition projects, including renewable power (2.8 GW targeted by 2028), additional electric arc furnace capacity of 3.4 million tonnes by end-2026, and automotive electrical steels.

ArcelorMittal also confirms that its Significant Shareholder, holding 44.6% of issued shares (excluding treasury), has entered into a share repurchase agreement to sell shares to the company during the previously announced 2025–2030 buyback program, at the same average daily price as open-market purchases, in line with a 2006 Memorandum of Understanding intended to preserve free float.

ArcelorMittal files its 2025 annual report as a leading global steel and mining group with 761,125,819 ordinary shares outstanding at year-end. The company operates steel plants in 14 countries, employed about 125,554 people, and remains geographically diversified across Europe, the Americas and other regions.

Capital returns stayed central to its strategy. Shareholders approved a $0.55 per share dividend for 2025, totaling $421 million in two installments. From 2020 through 2025, ArcelorMittal returned $14.4 billion via share buybacks, including $0.3 billion in 2025, and launched a new program running through 2030 with an initial tranche of up to 10 million shares, of which 2 million shares costing $58 million were repurchased by December 31, 2025.

The Board has recommended increasing the base annual dividend to $0.60 per share for 2026, subject to shareholder approval. The report highlights major 2025 transactions, including full ownership of ArcelorMittal Calvert, the wind-down of a South African long steel business, and disposal of operations in Bosnia and Herzegovina, alongside large-scale decarbonization and renewable energy investments and extensive risk disclosures covering markets, raw materials, regulation, cybersecurity and climate policy.

ArcelorMittal has filed a Form 6-K to inform investors that a notification of a share transaction by a Designated Person, such as a director or executive officer, is available on the Luxembourg Stock Exchange’s electronic database and on the company’s website.

The filing also highlights that ArcelorMittal is a leading integrated steel and mining company operating in 60 countries. In 2024 it generated $62.4 billion of revenue, produced 57.9 million metric tonnes of crude steel and 42.4 million tonnes of iron ore.

ArcelorMittal has confirmed a major €1.3 billion investment to build a 2‑million‑tonne electric arc furnace (EAF) at its Dunkirk, France steelmaking site, with start‑up targeted for 2029. The EAF is expected to produce steel with around three times less CO₂ than a traditional blast furnace, at 0.6 tonne of CO₂ per tonne of steel based on a mix of scrap, HBI/DRI and hot metal.

Half of the €1.3 billion cost will be supported by French Energy Efficiency Certificates, easing the funding burden. Management links the decision to improved European policy, including new tariff‑rate quotas to limit unfair imports and reforms to the Carbon Border Adjustment Mechanism, plus a long‑term low‑carbon power contract with EDF. ArcelorMittal is also starting up a new €500 million electrical steel unit at its nearby Mardyck plant, expanding its product range for industrial and automotive electrification.

ArcelorMittal reported solid 2025 results with higher profits despite softer steel prices. Full-year net income rose to $3.2 billion (EPS $4.13) on sales of $61.4 billion, while EBITDA was $6.5 billion, down 7.3% year on year as North America, India/JVs and Brazil faced weaker pricing.

The business generated $4.8 billion of operating cash flow and $0.4 billion of free cash flow, invested $1.1 billion in strategic capex and ended 2025 with net debt of $7.9 billion and liquidity of $11.0 billion. The Board proposes lifting the annual dividend to $0.60 per share and continuing to return at least 50% of post-dividend free cash flow via buybacks. Moody’s and S&P both upgraded the company to solid investment-grade ratings in 2025.

ArcelorMittal filed a Form 6-K to share a press release publishing sell-side analyst consensus estimates for its fourth quarter and full year 2025 results. Based on Visible Alpha data, analysts on average expect 4Q 2025 EBITDA of $1,531 million and full year 2025 EBITDA of $6,466 million.

Consensus net income estimates are $390 million for 4Q 2025 and $3,321 million for full year 2025, with corresponding earnings per share of $0.51 and $4.36. Around 14 brokers contribute to these figures via Visible Alpha, and ArcelorMittal stresses the estimates are independent analyst views, not company forecasts.

ArcelorMittal has signed an amended Mineral Development Agreement with the Government of Liberia, extending its mining rights in the country to 2050, with an option to renew for a further 25 years. The deal underpins a long-term expansion of its Liberian iron ore operations.

The company has developed a $1.8 billion expansion project in Liberia, bringing total investment there to $3.5 billion, including a new state-of-the-art concentrator, upgraded rail from Tokadeh to Buchanan, port improvements and two power plants. Iron ore shipments from Liberia are expected to rise from about 5 million tonnes per year to 20 million tonnes in 2026, with feasibility studies underway for potential output beyond 20 million tonnes annually.

ArcelorMittal is expanding railway capacity so it can transport up to 30 million tonnes of iron ore annually for its own use and will pay $200 million to Liberia for extended mining rights and reserved rail capacity. The company currently supports around 8,000 direct and indirect jobs in Liberia and is one of the country’s largest taxpayers. Group-wide, ArcelorMittal generated $62.4 billion of revenue in 2024, producing 57.9 million tonnes of crude steel and 42.4 million tonnes of iron ore.