ArcelorMittal earned $805 million in net profit in Q1

In January-March 2025, the global steel company ArcelorMittal increased its net profit by 6.3% compared to the same period in 2024 to $805 million. Compared to the previous quarter, the figure almost doubled. This is stated in the financial report published on the company’s website.

The company’s EBITDA (earnings before interest, taxes, depreciation, and amortization) for the quarter decreased by 19.2% y/y and 4.5% q/q – to $1.58 billion. Operating income amounted to $825 million, down 23% y/y but up 56% q/q.

ArcelorMittal’s revenue for the last quarter decreased by 9.1% y/y and increased by 0.6% q/q – to $14.8 billion.

Aditya Mittal, CEO of ArcelorMittal, commented on the quarter’s results, noting that the company demonstrated stable financial performance despite the challenging geopolitical situation.

“From a financial point of view, it was another quarter of stable deliveries and strong profitability, especially given the external challenges, with EBITDA of $116 per tonne,” he said.

Mittal also noted the strong operational performance in Liberia, where the company recorded record production and shipments of iron ore. According to him, the company continues to implement its growth strategy, which should provide an additional $1.8 billion in EBITDA by 2027. At the same time, the CEO of ArcelorMittal called for caution about short-term prospects amid growing uncertainty in global trade.

As GMK Center reported earlier, ArcelorMittal reduced steel production by 0.3% year-on-year to 57.9 million tons in 2024. Iron ore production in the period increased by 0.9% y/y – to 42.4 million tons. Steel shipments to customers in the period amounted to 54.3 million tons (-2.3% y/y), and iron ore (only for AMMC and Liberia) – 26.4 million tons (+0% y/y).

Over the past year, the company reduced its net profit by 52.2% compared to 2023 to $2.33 billion. EBITDA decreased by 19.3% y/y – to $7.05 billion. Operating income amounted to $3.31 billion, up 41.4% y/y.

ArcelorMittal is a leading global steel and mining company with operations in 60 countries and production assets in 18 countries.