Global steel leader ArcelorMittal announced that its EBITDA increased to USD 5.2 billion in Q2 of 2022, the fifth successive quarter above the USD 5 billion levels, and H1 of 2022 EBITDA reached USD 10.2 billion, 23.5% higher than the same period of 2021. ArcelorMittal Chief Executive Officer Mr Aditya Mittal said "The Company had a strong first half with market conditions supporting a fifth consecutive quarter of EBITDA of over USD 5 billion. This enabled us to progress against our strategic objectives and continue to transform our business for the net zero economy. We have completed a number of targeted acquisitions reflecting the changing energy and metallic inputs required for low-carbon emissions steelmaking and are also seeking to strengthen our presence in regions that have the ability to produce low-cost green hydrogen such as Brazil where we have today announced the proposed acquisition of one of the country’s lowest-cost slab producers.”Mr Mittal added “The period, however, was overshadowed by the outbreak of war in Ukraine, where we have steel and mining operations, bringing instability and suffering to the country and our 26,000 employees. Globally the conflict is impacting growth and adding further inflationary pressure, which is spilling over into weakening of demand. Despite the more uncertain global macro outlook, our business is well positioned to effectively manage through the cycle. The long-term outlook for steel demand also remains positive, underpinned by the scale of opportunity related to the energy transition and the continuing growth of developing economies.”Steel spreads offsetting lower shipments in 2Q 2022 -Positive price-cost effect offset a -6.3% sequential decrease in steel shipments to 14.4 million tonnes primarily due to the lower shipments in ACIS and EuropeApril-June 2022 QuarterSales - USD 22.142 billion, up 1% YoYOperating income – USD 4.494 billion, up1% YoYNet income USD - 3.923 billion, down 5% YoYEBITDA – USD 5.163 billion, up 2% YoYEBITDA/ tonne – USD 359 per tonne, up 8% YoYCrude steel production -14.6 million tonne, down 10% YoYSteel shipments - 14.4 million tonne, down 6% YoYTotal group iron ore production - 12.0 million tonne, flat 0% YoYIron ore production (AMMC and Liberia only) - 7.3 million tonne, up 6% YoYIron ore shipment (AMMC and Liberia only) - 7.5 million tonne, up 12% YoYFlat - 1.80 million tonnes, down 1% YoYLong - 0.75 million tonnes, up 14% YoYNAFTA - 2.45 million tonnes, Flat YoYFlat - 1.64 million tonnes, down 6% YoYLong - 1.38 million tonnes, up 5% YoY Brazil - 3.00 million tonnes, down 1% YoYFlat - 5.71 million tonnes, down 4% YoYLong - 2.15 million tonnes, down 6% YoYEurope - 7.97 million tonnes, down 4% YoYCIS - 0.73 million tonnes, down 48% YoYAfrica - 0.49 million tonnes, down 26% YoYACIS - 1.22 million tonnes, down 41% YoYH1 of 2022Sales – USD 43.978 billion, up 24% YoYOperating income – USD 8.927 billion, up 26% YoYNet income - USD 8.048 billion, up 28% YoYEBITDA – USD 10.243 billion, up 23% YoYEBITDA/ tonne - USD 345 per tonne, up 35% YoYCrude steel production -- 30.9 million tonne, down 13% YoYSteel shipments - 29.7 million tonne, down 9% YoYTotal group iron ore production - 24.0 million tonne, down 2% YoYIron ore production (AMMC and Liberia only) - 14.2 million tonne, up 16% YoYIron ore shipment (AMMC and Liberia only) - 14.2 million tonne, up 18% YoYShipments Flat -3.61 million tonnes, down 3% YoYLong - 1.41 million tonnes, down 11% YoYNAFTA - 4.91 million tonnes, down 4% YoYFlat - 3.39 million tonnes, up 9% YoYLong - 2.69 million tonnes, down 2% YoYBrazil - 6.04 million tonnes, up 4% YoYFlat - 11.66 million tonnes, down 6% YoYLong - 4.42 million tonnes, down 6% YoYEurope -16.30 million tonnes, down 6% YoYCIS -2.14 million tonnes, down 48% YoYAfrica - 1.16 million tonnes, down 8% YoYACIS -3.29 million tonnes, down 39% YoY
Global steel leader ArcelorMittal announced that its EBITDA increased to USD 5.2 billion in Q2 of 2022, the fifth successive quarter above the USD 5 billion levels, and H1 of 2022 EBITDA reached USD 10.2 billion, 23.5% higher than the same period of 2021. ArcelorMittal Chief Executive Officer Mr Aditya Mittal said "The Company had a strong first half with market conditions supporting a fifth consecutive quarter of EBITDA of over USD 5 billion. This enabled us to progress against our strategic objectives and continue to transform our business for the net zero economy. We have completed a number of targeted acquisitions reflecting the changing energy and metallic inputs required for low-carbon emissions steelmaking and are also seeking to strengthen our presence in regions that have the ability to produce low-cost green hydrogen such as Brazil where we have today announced the proposed acquisition of one of the country’s lowest-cost slab producers.”Mr Mittal added “The period, however, was overshadowed by the outbreak of war in Ukraine, where we have steel and mining operations, bringing instability and suffering to the country and our 26,000 employees. Globally the conflict is impacting growth and adding further inflationary pressure, which is spilling over into weakening of demand. Despite the more uncertain global macro outlook, our business is well positioned to effectively manage through the cycle. The long-term outlook for steel demand also remains positive, underpinned by the scale of opportunity related to the energy transition and the continuing growth of developing economies.”Steel spreads offsetting lower shipments in 2Q 2022 -Positive price-cost effect offset a -6.3% sequential decrease in steel shipments to 14.4 million tonnes primarily due to the lower shipments in ACIS and EuropeApril-June 2022 QuarterSales - USD 22.142 billion, up 1% YoYOperating income – USD 4.494 billion, up1% YoYNet income USD - 3.923 billion, down 5% YoYEBITDA – USD 5.163 billion, up 2% YoYEBITDA/ tonne – USD 359 per tonne, up 8% YoYCrude steel production -14.6 million tonne, down 10% YoYSteel shipments - 14.4 million tonne, down 6% YoYTotal group iron ore production - 12.0 million tonne, flat 0% YoYIron ore production (AMMC and Liberia only) - 7.3 million tonne, up 6% YoYIron ore shipment (AMMC and Liberia only) - 7.5 million tonne, up 12% YoYFlat - 1.80 million tonnes, down 1% YoYLong - 0.75 million tonnes, up 14% YoYNAFTA - 2.45 million tonnes, Flat YoYFlat - 1.64 million tonnes, down 6% YoYLong - 1.38 million tonnes, up 5% YoY Brazil - 3.00 million tonnes, down 1% YoYFlat - 5.71 million tonnes, down 4% YoYLong - 2.15 million tonnes, down 6% YoYEurope - 7.97 million tonnes, down 4% YoYCIS - 0.73 million tonnes, down 48% YoYAfrica - 0.49 million tonnes, down 26% YoYACIS - 1.22 million tonnes, down 41% YoYH1 of 2022Sales – USD 43.978 billion, up 24% YoYOperating income – USD 8.927 billion, up 26% YoYNet income - USD 8.048 billion, up 28% YoYEBITDA – USD 10.243 billion, up 23% YoYEBITDA/ tonne - USD 345 per tonne, up 35% YoYCrude steel production -- 30.9 million tonne, down 13% YoYSteel shipments - 29.7 million tonne, down 9% YoYTotal group iron ore production - 24.0 million tonne, down 2% YoYIron ore production (AMMC and Liberia only) - 14.2 million tonne, up 16% YoYIron ore shipment (AMMC and Liberia only) - 14.2 million tonne, up 18% YoYShipments Flat -3.61 million tonnes, down 3% YoYLong - 1.41 million tonnes, down 11% YoYNAFTA - 4.91 million tonnes, down 4% YoYFlat - 3.39 million tonnes, up 9% YoYLong - 2.69 million tonnes, down 2% YoYBrazil - 6.04 million tonnes, up 4% YoYFlat - 11.66 million tonnes, down 6% YoYLong - 4.42 million tonnes, down 6% YoYEurope -16.30 million tonnes, down 6% YoYCIS -2.14 million tonnes, down 48% YoYAfrica - 1.16 million tonnes, down 8% YoYACIS -3.29 million tonnes, down 39% YoY
