ArcelorMittal Hunedoara
The global steel company ArcelorMittal reduced its net profit by 52.2% in 2024 compared to 2023 to $2.33 billion. This is stated in the financial report published on the company’s website.
The company’s EBITDA (earnings before interest, taxes, depreciation, and amortization) decreased by 19.3% y/y – to $7.05 billion for the year. Operating income amounted to $3.31 billion, up 41.4% y/y.
ArcelorMittal’s revenue for the past year decreased by 8.5% compared to 2023 to $62.44 billion.
In the fourth quarter, the company’s net profit decreased by 17.2% quarter-on-quarter and 58.8% compared to the fourth quarter of 2023 – to $404 million. EBITDA for the quarter amounted to $1.65 billion, up 4.6% q/q and 13.7% y/y. Revenue decreased by 3.2% q/q and increased by 1.1% y/y.
“Last year was challenging from a global economic perspective, but, despite this EBITDA per tonne at $130 is considerably higher than the five- year-average pre-COVID. It is testament to the core strength of the Company that we are generating free cash flow, investing for growth and returning cash to shareholders in these markets. The long-term outlook for the steel industry is positive and our global presence means we have a unique opportunity to prioritize investment in markets where there is a strong outlook for growth and returns,” comments Aditya Mittal, CEO of ArcelorMittal.
As GMK Center reported earlier, in 2023, ArcelorMittal’s net profit decreased by 54.1% compared to 2022 – to $4.87 billion. The company’s EBITDA decreased by 46.6% y/y – to $7.56 billion last year. Operating income for the period amounted to $2.34 billion, down 77.2% y/y. Revenue decreased by 14.5% compared to 2022, to $68.27 billion.
In 2024, ArcelorMittal reduced steel production by 0.3% compared to 2023, to 57.9 million tons. Iron ore production for 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 tonnes (-2.3% y/y), and iron ore (only for AMMC and Liberia) – 26.4 million tonnes (+0% y/y).
ArcelorMittal is a leading global steel and mining company with operations in 60 countries and production assets in 18 countries.
Representatives of the Canadian steel industry told government officials that the proposed measures to protect…
ArcelorMittal Poland has officially commissioned hydrogen furnaces in the cold rolling annealing shop at its…
Taiwan will impose temporary anti-dumping duties on certain types of flat hot-rolled steel from China…
Investment company Atlas Holdings has signed a definitive agreement to acquire Evraz Inc. NA and…
In May 2025, Ukrainian steel enterprises exported 162.36 thousand tons of commercial pig iron, which…
German energy company LEAG, the country's second-largest electricity supplier, is suspending its 110 MW hydrogen…