Luxembourg-based ArcelorMittal, the world’s largest steelmaker, has announced its financial results for the fourth quarter and the full year of 2021.
In the fourth quarter last year, the company posted a net profit of $4.04 billion, as compared to a net profit in the fourth quarter of 2020 of $1.2 billion and a net profit of $4.62 billion in the third quarter last year. The company’s sales revenues in the given period increased by 2.8 percent year on year to $20.8 billion. The company registered an EBITDA of $5.05 billion in the fourth quarter, compared to an EBITDA of $1.72 million in the corresponding period of the previous year and an EBITDA of $6.05 billion in the third quarter.
In 2021, ArcelorMittal posted a net profit of $14.95 billion, as compared to a net loss in 2020 of $733 million. The company’s sales revenues in the given period increased by 43.7 percent year on year to $76.57 billion. The company registered an EBITDA of $19.4 billion in the full year, compared to an EBITDA of $4.3 billion in the previous year.
ArcelorMittal’s crude steel production decreased by 3.3 percent to 69.1 million mt in 2021, while its iron ore production declined by 12.2 percent to 50.9 million mt, both year on year. The company’s total steel shipments in the given period amounted to 62.9 million mt, down by 8.9 percent year on year.
The European segment’s crude steel production increased by 8.2 percent year on year to 36.79 million mt in the full year.
“The global economic rebound post initial Covid-19 restrictions being lifted supported buoyant demand in all markets delivering very high levels of profitability. This further strengthened our balance sheet and enabled targeted investment in our business,” Aditya Mittal, ArcelorMittal CEO, said.