ArcelorMittal announced that Europe segment crude steel production declined by -4.9% to 8.3 million tonne in Q2 of 2022 as compared to 8.7 million tonne in Q1 of 2022 and 12.0% lower as compared to Q2 of 2021. Production was down Q2 of 2022 as compared to 1Q 2022 on account of a planned reline in Eisenhuttenstadt and an adjustment of production to lower demand. These same factors and the additional impact of responses to higher energy prices led to a 10.6% decline in Q2 of 2022 as compared to Q2 of 2021 on a scope adjusted basis.Steel shipments declined by 4.4% to 8.0 million tonne in Q2 of 2022 as compared to 8.3 million tonne in Q1 of 2022 and were 3.9% lower as compared to 8.3 million tonne in Q2 of 2021 primarily due to a slowdown in demand. Adjusted for the ArcelorMittal Italia deconsolidation, shipments in Q2 2022 were 2.6% lower as compared to Q2 of 2021.Sales in Q2 of 2022 increased by 3.1% to USD 13.4 billion, as compared to USD 13.0 billion in Q1 of 2022, primarily due to 6.1% higher average selling prices. Sales were significantly higher than Q2 of 2021 and include the positive impact of automotive contract price resets.Operating income in Q2 of 2022 was USD 2,063 million as compared to USD 2,081 million in Q1 of 2022 and higher than USD 1,262 million in Q2 of 2021. EBITDA in Q2 of 2022 of USD 2,389 million decreased by 0.8%, as compared to USD 2,407 million in Q1 of 2022, with the impacts of lower steel shipments and a negative translation effect due to USD appreciation largely being offset by a positive price-cost effect. EBITDA in Q2 of 2022 increased significantly as compared to USD 1,578 million in Q2 of 2021 primarily due to a positive price-cost effect, including the impact of contract pricing resets, offset in part by lower steel shipment volumes and a negative translation effect.
ArcelorMittal announced that Europe segment crude steel production declined by -4.9% to 8.3 million tonne in Q2 of 2022 as compared to 8.7 million tonne in Q1 of 2022 and 12.0% lower as compared to Q2 of 2021. Production was down Q2 of 2022 as compared to 1Q 2022 on account of a planned reline in Eisenhuttenstadt and an adjustment of production to lower demand. These same factors and the additional impact of responses to higher energy prices led to a 10.6% decline in Q2 of 2022 as compared to Q2 of 2021 on a scope adjusted basis.Steel shipments declined by 4.4% to 8.0 million tonne in Q2 of 2022 as compared to 8.3 million tonne in Q1 of 2022 and were 3.9% lower as compared to 8.3 million tonne in Q2 of 2021 primarily due to a slowdown in demand. Adjusted for the ArcelorMittal Italia deconsolidation, shipments in Q2 2022 were 2.6% lower as compared to Q2 of 2021.Sales in Q2 of 2022 increased by 3.1% to USD 13.4 billion, as compared to USD 13.0 billion in Q1 of 2022, primarily due to 6.1% higher average selling prices. Sales were significantly higher than Q2 of 2021 and include the positive impact of automotive contract price resets.Operating income in Q2 of 2022 was USD 2,063 million as compared to USD 2,081 million in Q1 of 2022 and higher than USD 1,262 million in Q2 of 2021. EBITDA in Q2 of 2022 of USD 2,389 million decreased by 0.8%, as compared to USD 2,407 million in Q1 of 2022, with the impacts of lower steel shipments and a negative translation effect due to USD appreciation largely being offset by a positive price-cost effect. EBITDA in Q2 of 2022 increased significantly as compared to USD 1,578 million in Q2 of 2021 primarily due to a positive price-cost effect, including the impact of contract pricing resets, offset in part by lower steel shipment volumes and a negative translation effect.
