ArcelorMittal Europe Reports Strong Results for Q1 of 2021
ArcelorMittal reported that Europe segment crude steel production increased by 6.4% to 9.7 million tonnes in 1Q 2021 as compared to 9.1 million tonnes in
ArcelorMittal reported that Europe segment crude steel production increased by 6.4% to 9.7 million tonnes in 1Q 2021 as compared to 9.1 million tonnes in 4Q 2020 as demand and activity levels improved, including automotive, industrial production and manufacturing activity. In March 2021, the Company restarted BF#B at Ghent, Belgium following a planned major reline.
Steel shipments in 1Q 2021 improved by 5.2% to 9.0 million tonnes as compared to 8.6 million tonnes in 4Q 2020 driven by higher flat steel shipments (+6.5%) and long products (+2.0%). Steel shipments were 3.1% lower in 1Q 2021 as compared to 9.3 million tonnes in 1Q 2020 (with lower flat steel shipments offset in part by higher long steel products).
Sales in 1Q 2021 were USD 9.4 billion, 23.0% higher as compared to USD 7.6 billion in 4Q 2020, primarily due to higher shipment volumes (as discussed above) and 17.0% higher average selling prices (flat products +17.4% and long products +17.2%).
Operating income in 1Q 2021 was USD 599 million as compared to an operating loss in 4Q 2020 of USD 447 million and an operating loss of USD 426 million in 1Q 2020. Results for 4Q 2020 and 1Q 2020 were impacted by impairment and exceptional items.
EBITDA in 1Q 2021 of USD 898 million was significantly higher as compared to USD 385 million in 4Q 2020, primarily due to a positive price-cost effect and higher steel shipment volumes. EBITDA in 1Q 2021 increased significantly as compared to USD 204 million in 1Q 2020 primarily due to a positive price-cost effect offset in part by lower steel shipments.