ArcelorMittal ACIS Q1 Performance Update
ArcelorMittal reported that ACIS segment crude steel production in Q1 of 2021 was stable at 2.7 million tonnes as compared to 4Q 2020. Crude steel production was 10.5% lower as compared to 3.0 million tonnes in Q1 of 2020 primarily in South Africa, including the scope impact of the permanent closure of the Saldanha facility in Q1 of 2020. Steel shipments in Q1 of 2021 increased by 9.3% to 2.6 million tonnes as compared to 2.4 million tonnes in Q4 of 2020, mainly due to the recovery in demand in South Africa and improved Kazakhstan volume, primarily due to timing of export shipments postponed from 4Q 2020.
Sales in Q1 of 2021 increased by 36% to USD 2.0 billion as compared to USD 1.5 billion in Q4 of 2020, primarily due to higher average steel selling prices (+26.6%) and higher steel shipments (+9.3%). Operating income in Q1 of 2021 was USD 472 million as compared to USD 177 million in Q4 of 2020 and an operating loss of USD 60 million in Q1 of 2020. EBITDA was USD 546 million in Q1 of 2021 as compared to USD 266 million in Q4 of 2020, primarily due to positive price-cost effect and higher steel shipments. EBITDA in Q1 of 2021 was significantly higher as compared to USD 47 million in Q1 of 2020, primarily due to positive price-cost effects.