ArcelorMittal NAFTA Q1 Performance Update
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ArcelorMittal NAFTA Q1 Performance Update

ArcelorMittal reported that NAFTA segment crude steel production decreased by 48.0% to 2.2 million ton in Q1 of 2021, as compared to 4.2 million ton in

ArcelorMittal reported that NAFTA segment crude steel production decreased by 48.0% to 2.2 million ton in Q1 of 2021, as compared to 4.2 million ton in Q4 of 2020 following the sale of ArcelorMittal USA to Cleveland Cliffs on December 9, 2020. On a scope adjusted basis, ie excluding ArcelorMittal USA, crude steel production increased by 5.5% to 2.2 million ton in Q1 of 2021as compared to 2.1 million ton in Q4 of 2020 following the improvement in demand.

Steel shipments in Q1 of 2021 decreased by 39.3% to 2.5 million ton as compared to 4.1 million ton in Q4 of 2020 on account of the sale of ArcelorMittal USA. On a scope adjusted basis, steel shipments in Q1 of 2021 increased by 7.3% to 2.5 million ton as compared to 2.3 million ton in Q4 of 2020 following the improvement in demand. Steel shipments were 54.7% lower in Q1 of 2021 as compared to 5.5 million ton in Q1 of 2020 but stable on a scope adjusted basis.

Sales in Q1 of 2021 decreased by 20.6% to USD 2.5 billion, as compared to USD 3.2 billion in 4Q 2020, primarily due to the decrease in steel shipments offset in part by a 19.1% increase in average steel selling prices.

Operating income in Q1 of 2021 was USD 176 million as compared to USD 1,507 million in Q4 of 2020 and an operating loss of USD 120 million in Q1 of 2020. Q4 of 2020 operating income included a USD 1.5 billion exceptional gain related to the sale of ArcelorMittal USA. Operating loss in Q1 of 2020 included exceptional items of USD 241 million primarily due to inventory related charges recorded due to a weaker steel pricing outlook driven by COVID-19 impacts.

EBITDA in Q1 of 2021 of USD 233 million was higher as compared to USD 108 million in Q4 o 2020, primarily due to a positive price-cost effect and +7.3% higher shipment volumes (on a scope adjusted basis, excluding ArcelorMittal USA shipments from the prior period). EBITDA in Q1 of 2021 was also negatively impacted primarily by disruption in our Mexican operations linked to the severe weather experienced in Texas in February. EBITDA in Q1 of 2021 was slightly lower as compared to USD 247 million in Q1 of 2020 with the impact of the sale of ArcelorMittal USA largely offset by a positive price-cost effect.

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