Luxembourg-based ArcelorMittal, the world’s largest steelmaker, has announced its financial results for the first half of the current year.
In the first half this year, ArcelorMittal achieved a net profit of $2.95 billion, compared to a net profit in the first half last year of $8.04 billion. The company’s sales revenues in the given period decreased by 15.6 percent year on year to $37.1 billion. The company registered an EBITDA of $4.43 billion in the first half, compared to an EBITDA of $10.24 billion in the corresponding period of the previous year.
ArcelorMittal’s crude steel production decreased by 5.5 percent to 29.2 million mt in the first half, while its iron ore production declined by 11.2 percent to 21.3 million mt, both year on year. The company’s total steel shipments in the given period amounted to 28.7 million mt, down by 3.3 percent year on year.
The crude steel production of ArcelorMittal’s European segment decreased by 13.1 percent year on year to 14.72 million mt in the first half, due to outages at blast furnaces in Spain and France in late March. These blast furnaces were restarted in mid-July.
“We have delivered a strong set of financials in the first half of the year, which reflect the improved market conditions and also the positive impact of recent strategic acquisitions. Meanwhile, organic growth projects that will enhance our ability to produce higher added-value products in high-growth markets, as well as investments in our lower-carbon supply chains, are starting to demonstrate their potential,” Aditya Mittal, CEO of ArcelorMittal, said.
