ArcelorMittal announced results for the three-month and twelve-month periods ended December 31, 2020. ArcelorMittal Executive Chairman Mr Lakshmi N Mittal said “2020 was a year of enormous challenge as countries, societies and businesses across the world grappled with the disruption caused by the COVID-19 pandemic. The impact on the steel industry was significant, but I am very proud of the resilience and enterprise shown by our people across the business which enabled ArcelorMittal to deliver a solid operating performance in times of adversity. Achieving our USD 7 billion net debt target marked the end of a long-term deleveraging program, and the start of a new phase which will allow the Company to focus on delivering sustainable shareholder returns as we continue to transform for the future. This process will be supported by changes we made to our portfolio, increasing the quality of its earnings potential, and by the investments we are making in high-growth projects and markets, such as those in India, Mexico, Brazil and Liberia. Initiatives are also underway to ensure that we take the lessons from our swift and comprehensive COVID-19 response actions and embed these across the business, with a target of delivering more than USD 1 billion of sustained savings by 2022. This effort is currently supported by an improvement in market conditions which supported a significantly improved performance in the fourth quarter.”Sales – USD 53.270 billion down 24.6% YoYOperating income – USD 2.110 billion down 436.5% YoYNet loss – USD 733 million up 70.1% YoYEBITDA – USD 4.301 billion down 17.2%EBITDA/ tonne – USD 62 Per tonne up 1.6% YoYSteel-only EBITDA/ tonne – USD 35 Per tonne down16.7%Crude steel production - 71.5 million tonnes down 20.4% YoYSteel shipments - 69.1 million tonnes down 18.2% YoYArcelorMittal EuropeSales – USD 28.071 billion down 25.6%Operating loss - USD 1,444 billion down 30.4%EBITDA - USD 833 million down 26.3%Crude steel production - 34.004 million tonne down 22.6%Steel shipments - 32.873 million tonne down 22.4%Average steel selling price – USD 655 per tonne down 5.9%ArcelorMittal NAFTASales – USD 13.597 billion down 26.7%Operating Income – USD 1.667 billion up 232.4%EBITDA - USD 458 million down 43.5%Crude steel production - 17.813 million tons down 18.7%Steel shipments - 17.902 million tons down 14.4%Average steel selling price – USD 702 per ton down 13.3%ArcelorMittal BrazilSales - USD 6.271 billion down 22.7%Operating income - USD 754 million down 10.9%EBITDA - USD 978 million down 12.7%Crude steel production - 9.539 million tonne down 13.3%Steel shipments - 9.410 million tonne down 15.9%Average steel selling price – USD 634 per tonne down 6.6%ArcelorMittal ACISSales USD 5.507 billion down 19.5%Operating income – USD 84 million down 436.0%EBITDA USD 437 million down 15.5%Crude steel production - 10.171 million tonne down 21.7%Steel shipments - 9.881 million tonne down 14.4%Average steel selling price – USD 464 per tonne down 10.3%Repositioned its North American footprint through the completed sale of ArcelorMittal USA to Cleveland Cliffs, unlocking value and significantly reducing liabilitiesReinforced its European footprint through the agreed investment by the Italian government in ArcelorMittal Italia (expected to be deconsolidated in 1Q 2021)ArcelorMittal sold its first certified green steel products to customers in December 2020, reflecting its leadership position in technology and innovation Outlook - Recovery in steel shipments: Recovery in apparent steel demand growth of +4.5% to +5.5% is currently forecast in 2021 vs. 2020; steel shipments are expected to increase YoY on a scope adjusted basis i.e. excluding the impacts of the ArcelorMittal USA sale and the deconsolidation of ArcelorMittal Italia expected in 1Q 2021
ArcelorMittal announced results for the three-month and twelve-month periods ended December 31, 2020. ArcelorMittal Executive Chairman Mr Lakshmi N Mittal said “2020 was a year of enormous challenge as countries, societies and businesses across the world grappled with the disruption caused by the COVID-19 pandemic. The impact on the steel industry was significant, but I am very proud of the resilience and enterprise shown by our people across the business which enabled ArcelorMittal to deliver a solid operating performance in times of adversity. Achieving our USD 7 billion net debt target marked the end of a long-term deleveraging program, and the start of a new phase which will allow the Company to focus on delivering sustainable shareholder returns as we continue to transform for the future. This process will be supported by changes we made to our portfolio, increasing the quality of its earnings potential, and by the investments we are making in high-growth projects and markets, such as those in India, Mexico, Brazil and Liberia. Initiatives are also underway to ensure that we take the lessons from our swift and comprehensive COVID-19 response actions and embed these across the business, with a target of delivering more than USD 1 billion of sustained savings by 2022. This effort is currently supported by an improvement in market conditions which supported a significantly improved performance in the fourth quarter.”Sales – USD 53.270 billion down 24.6% YoYOperating income – USD 2.110 billion down 436.5% YoYNet loss – USD 733 million up 70.1% YoYEBITDA – USD 4.301 billion down 17.2%EBITDA/ tonne – USD 62 Per tonne up 1.6% YoYSteel-only EBITDA/ tonne – USD 35 Per tonne down16.7%Crude steel production - 71.5 million tonnes down 20.4% YoYSteel shipments - 69.1 million tonnes down 18.2% YoYArcelorMittal EuropeSales – USD 28.071 billion down 25.6%Operating loss - USD 1,444 billion down 30.4%EBITDA - USD 833 million down 26.3%Crude steel production - 34.004 million tonne down 22.6%Steel shipments - 32.873 million tonne down 22.4%Average steel selling price – USD 655 per tonne down 5.9%ArcelorMittal NAFTASales – USD 13.597 billion down 26.7%Operating Income – USD 1.667 billion up 232.4%EBITDA - USD 458 million down 43.5%Crude steel production - 17.813 million tons down 18.7%Steel shipments - 17.902 million tons down 14.4%Average steel selling price – USD 702 per ton down 13.3%ArcelorMittal BrazilSales - USD 6.271 billion down 22.7%Operating income - USD 754 million down 10.9%EBITDA - USD 978 million down 12.7%Crude steel production - 9.539 million tonne down 13.3%Steel shipments - 9.410 million tonne down 15.9%Average steel selling price – USD 634 per tonne down 6.6%ArcelorMittal ACISSales USD 5.507 billion down 19.5%Operating income – USD 84 million down 436.0%EBITDA USD 437 million down 15.5%Crude steel production - 10.171 million tonne down 21.7%Steel shipments - 9.881 million tonne down 14.4%Average steel selling price – USD 464 per tonne down 10.3%Repositioned its North American footprint through the completed sale of ArcelorMittal USA to Cleveland Cliffs, unlocking value and significantly reducing liabilitiesReinforced its European footprint through the agreed investment by the Italian government in ArcelorMittal Italia (expected to be deconsolidated in 1Q 2021)ArcelorMittal sold its first certified green steel products to customers in December 2020, reflecting its leadership position in technology and innovation Outlook - Recovery in steel shipments: Recovery in apparent steel demand growth of +4.5% to +5.5% is currently forecast in 2021 vs. 2020; steel shipments are expected to increase YoY on a scope adjusted basis i.e. excluding the impacts of the ArcelorMittal USA sale and the deconsolidation of ArcelorMittal Italia expected in 1Q 2021
