ArcelorMittal has announced results for the three-month period ended March 31, 2021. ArcelorMittal Chief Executive Officer Mr Aditya Mittal said “The first quarter of this year has been our strongest in a decade. While this is naturally a very welcome development following a highly challenging 2020, we are mindful that Covid continues to be a health challenge across the world especially in developing economies. Nowhere is this more obvious at present than in India, where we have our AM/NS India JV with Nippon Steel. Operationally, we have had a very positive start to the year. We are seeing a continuation of the positive market dynamics of the fourth quarter and have been steadily bringing back production in-line with the demand recovery, which is supported by low inventory levels through the value chain. Our priorities for the remainder of the year and beyond are clear: to maintain a competitive cost advantage; to strategically grow through high-return projects in high-growth markets, whilst leveraging existing infrastructure to develop our iron-ore resource; to consistently return cash to shareholders via a defined capital return policy and to lead on sustainable development.”

Q1 2021 Key Highlights

1. Sales – USD 16,193, up 9% YoY

2. Operating income – USD 2,641, up 648% YoY

3. Net income – USD 2,285, up 104% YoY

4. EBITDA – USD 3,242, up 235% YoY

5. EBITDA per tonne – USD 197, up 294% YoY

6. Crude steel production - 17.6 million tonnes, down 17% YoY

7. Steel shipments - 16.5 million tonnes, down15% YoY

8. Own iron ore production - 13.3 million tonnes, down 8% YoY

9. Iron ore shipped at market price - 9.8 million tonnes, up 14% YoY

Mr Mittal added “Progress on our decarbonisation journey continued with the launch of our XCarbTM initiative, our first significant step to create a market for low-carbon steel. We are already seeing an encouraging response from our customers. Looking to our wider sustainability commitments, we are very focused on improving our safety performance. Our global health and safety council has been reconfigured and tasked with implementing the changes required to drive a step change in our results. We have also announced a new target to double the amount of women in management to 25% by 2030, which will ensure that we have a rich and diverse workforce ready to take full advantage of future opportunities.”

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