ArcelorMittal

European economy 14th April 2025

European steel sector: EBITDA for 2026 expected to be 7% lower on average, ArcelorMittal among best options

Deutsche Bank | The most pessimistic fears have been mitigated, but US tariffs have created great uncertainty about steel demand, given the complexity of breaking down the impact on end markets. In our new baseline scenario we reflect this situation (although without reaching a full-blown recession) and we cut our assumptions about demand and prices in the sector, reducing our EBITDA forecasts for 2026 by 7% on average. We also…

In Europe 7th February 2025

Arcelor Mittal’s 4Q24 results show weakness in operating terms due to additional charges but Ebitda beats expectations

Bankinter | 4Q2024 EBITDA better by Joint Venture. Raises dividend and expects demand to improve in 2025. Tariff risk and overcapacity in the sector remain. Key figures compared to the company’s consensus for 4Q24: Revenues $14,714m (+1.1% year-on-year, -3.2% year-on-year); EBITDA $1,654m (versus +13.8% year-on-year and +4.6% year-on-year) versus $1,529m estimate (margin stood at 11.2% from 10.4% 3Q2024). NAB -$390m (versus $2,966m in 4Q 2023 and +$287m in 3Q 2024)…

In Europe 29th January 2025

ArcelorMittal, among best-positioned companies to take advantage of improving business environment

Morgan Stanley | Alain Gabriel summarises the various changes in the European market environment that we could see during the year. Starting with the review of import quotas, which expire in June 2026, and whose review ends on 31 March 2025. Alain believes there is potential for a reduction in quotas, implementation of quotas on an individual level and/or tariff increases. An anti-dumping investigation of HRCs from Egypt, India, Japan…

In Europe 6th November 2024

Preview ArcelorMittal 3Q24 Results: 8% deterioration in net income expected to reach €470 million

Renta 4 : The company announced that it was changing the way it publishes results as of 2024. The main changes are: 1) New “sustainable solutions” division, whose results come from the Europe division (which is revised), 2) inclusion of the contribution of the net results of the JVs, mainly India, Calvert (USA), China and others, which were previously in the results of investees and 3) ACIS (Eastern Europe, South…

In the World 16th October 2024

ArcelorMittal agrees to buy 50% of Nippon Steel’s JV in Calvert for $1, only if Japanese company eventually acquires US Steel

Renta 4 : The European steelmaker has reached an agreement with Nippon Steel to buy 50% of its stake in the Calvert mill. ArcelorMittal holds the remaining 50%. AM will pay $1 and Nippon Steel will also inject cash and forgive loans totalling about $900 million. This deal is subject to Nippon Steel securing regulatory approvals allowing it to acquire US Steel. ArcelorMittal and Nippon Steel created the Calvert JV…

In the World 27th September 2024

ArcelorMittal India generates $5.8 billion in cash since acquiring assets and invests same amount in growth

Renta 4 | ArcelorMittal (AM) has organised a visit for analysts to the Hazira plant in India, AM’s main facility in the country. AM created the JV in India (AM/NS India) together with Nippon Steel 60%/40% in 2019. AM/NS India has generated $5.8 billion of cash since the acquisition of the assets and has invested the same amount in its growth, acquisition of mines, ports, power facilities, land. Despite the…

Relevant News Item 19th September 2024

ArcelorMittal rules out Gijón explosion affecting production

Link Securities | The steel multinational ArcelorMittal (MTS) has ruled out that the explosion recorded on Tuesday in the batteries of its factory in Gijón, in which three workers were injured and are hospitalised with a guarded prognosis, will affect its production, according to the newspaper Expansión. It could, however, happen that some rolling mills such as plate, rail or wire rod, which are fuelled by coke gas, may have…

Companies, Ibex 27th August 2024

Arcelor and Acerinox: attractive valuations versus historical averages

Morgan Stanley | STEEL Alain Gabriel publishes today a recap presentation with the main figures and trends in European steel. His main OWs remain Arcelor and voestalpine (the latter he upgraded to OW last week) and Acerinox and Outokumpu in stainless steel. STEEL Arcelor- trades at a steep discount to its cyclical low multiple with normalised earnings and offers an interesting risk-return 12 months ahead. The new ebitda calculation perimeter,…

World economy 12th July 2024

ArcelorMittal employees reject agreement and will continue strike

Morgan Stanley: According to Reuters, employees have rejected the agreement to end the strike at the Lázaro Cardenas plant, which has been in place since 24 May. Alain Gabriel (analyst) points out that the blockade is likely to have a significant impact on the North American division (the plant represents almost half of the division’s capacity). In this sense, an 80% utilisation would imply an annual production of up to…

European economy 22nd May 2024

ArcelorMittal among best positioned steelmakers in face of possible 10% reduction in steel plate production capacity in Europe

Morgan Stanley: Our analyst Alain Gabriel believes that steel plate production in Europe is set to fall by 10% in the short/medium term, due to increased financing pressure, decarbonisation policies and sanctions imposed on Russian imports. Returns for the sector in Europe have been lower (4.3% post-tax RoCE 2009-20) than expected over the last 10 years and Gabriel believes this has to do with a utilisation rate below potential. The…

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