Luxembourg, November 10, 2022 – ArcelorMittal (“ArcelorMittal” or the “Company”) (MT (New York, Amsterdam, Paris, Luxembourg), MTS (Madrid)), the global leader in mining and embodied metals, announced its results1. 2 for the three and nine months ended September 30, 2022.
Reflexes:
Strategic update:
Key monetary figures (based on IFRS 1. 2):
Aditya Mittal, CEO of ArcelorMittal, said:
“The smart market situation we have enjoyed for most of the past two years deteriorated in the third quarter, with seasonal declines in shipments, reduced exceptional value levels, reduced inventories and emerging energy prices combined to put pressure on earnings. The company temporarily reacted to the conversion environment, reducing topload capacity to meet addressable demand and reducing constant prices, and reducing European fuel consumption by 30%.
The group’s decarbonisation targets remain a core component of the strategy, with a key progression being the inauguration last month in Ontario, Canada, of a new DRI-EAF plant, which is in hydrogen position. This is a vital milestone in our decarbonization roadmap and was achieved with regional and federal governments. With COP27 underway, we look ahead to advance measures that can drive the path to net zero, adding the rise of renewable energy, which is imperative for metal decarbonization. and editing power security.
The near-term outlook for the industry remains doubtful and caution is warranted. But ArcelorMittal has the strength, resilience and enthusiasm to face the long term with confidence. Backed by a strong balance sheet, we will continue to execute our strategy, designed to ensure our long-term leadership in the sector, as well as deliver sustainable returns to investors. »
Sustainable and protective performance
Health and Safety – Frequency rate of missed time shifts for the workforce and contractors18
Protecting the health and well-being of workers is the company’s most sensible priority with strict and uninterrupted compliance with World Health Organization (COVID-19) standards, and express government standards have been followed and implemented.
Health and protection functionality based on lost time shift frequency rate for the body of workers and contractors 0. 54x in Q3 2022 (“Q3 2022”) compared to 0. 67x in the current quarter of 2022 (“Q2 2022”) and 0. 76x in Q3 20213 (“Q3 2021”). Health and safety functionality in the first nine months of 2022 (“9M 2022”) 0. 63x vs. 0. 80x in the first nine months of 2021 (“9M 2021”).
Own and subcontracted – Frequency rate
Sustainability Highlights: Leader in Steel Decarbonization:
Analysis of the effects of the third quarter of 2022 to the second quarter of 2022 and the third quarter of 2021
Total metals shipments in the third quarter of 2022 were 13. 6 Mt, a decrease of -5. 6% compared to 14. 4 Mt in the second quarter of 2022, largely reflecting lower demand and seasonality in Europe (-11. 1%), Brazil (-5. 5%) basically due to declining exports, NAFTA (-4. 6%) partially offset by higher shipments in the DCISB 37. 6%.
Steel shipments in the third quarter of 2022 declined -7. 1% from 14. 6 Mt in the third quarter of 2021, largely reflecting weaker demand in Europe (-6. 2%) and the war in Ukraine (-29. 2%) partially offset through NAFTA (-2. 6%). Excluding the influence of Ukraine, metal shipments in the third quarter of 2022 decreased by -1. 0% compared to the third quarter of 2021 with decreases in Europe of -6. 3%, offset by EICP 17. 0%, NAFTA 2. 5% and Brazil 0. 3%.
Third quarter 2022 sales were $19 billion, compared to sales of $22. 1 billion in the third quarter of 2022 and third-quarter 2021 sales of $20. 2 billion. metal shipment volumes and minimize iron ore reference costs (-24. 8%). .
Q3 2022 depreciation of $628 million, compared to Q2 2022 $669 million and Q3 2021 $590 million. Decrease in depreciation in Q3 2022 compared to Q2 22, basically due to exchange rate effects.
Third quarter 2022 specialty parts of $400 million come with $500 million of non-cash inventory expense to reflect the net realisable price of IFRS inventories with lower market costs in Europe and offset through a $100 million acquisition gain on the acquisition of a hot iron briquette (“HBI”) plant in Texas. There were no exceptional parts for Q2 2022. Exceptional parts for Q3 2021 of $123 million similar to the planned costs for the decommissioning of the Serra Azul mine dam in Brazil.
Operating profit for the third quarter of 2022 $1. 7 billion, compared to $4. 5 billion in the second quarter of 2022 and $5. 3 billion in the third quarter of 2021, reflecting negative price-cost effects, reduced volumes, higher energy prices and the impact through specialty parts as stated above.
Income from associates, joint ventures and other investments9 for the third quarter of 2022 $59 million, compared to $578 million for the second quarter of 2022 and $778 million in the third quarter of 2021. do not reflect prevailing market prices for slab, AMNS India4 (negative price charge effects) and European corporations affected by negative price charge effects. Second quarter 2022 associates, joint ventures and other investments included Acciaierie d’Italia from the popularity of a deferred tax asset.
Net interest expense in the third quarter of 2022 $37 million, compared to $53 million in the second quarter of 2022 and less than $62 million in the third quarter of 2021, reflecting higher earnings in interest income.
Foreign exchange and other net monetary losses in the third quarter of 2022 were $247 million, to losses of $183 million in the second quarter of 2022 and $339 million in the third quarter of 2021. The third quarter of 2022 includes a foreign exchange loss of $108 million to $152 million in the second quarter of 2022 and a gain of $22 million in the third quarter of 2021.
ArcelorMittal recorded an income tax expense source of $371 million (including a deferred tax advantage of $23 million) in the third quarter of 2022, compared to an income tax expense source of $826 million (including a deferred tax advantage of $74 million) in the second quarter 2022 due to declining taxable profits. Income tax expense in the third quarter of 2021 $882 million (including a tax-deferred advantage of $56 million).
ArcelorMittal recorded a third quarter 2022 net income source of $993 million compared to a second quarter 2022 net income source of $3923 million and a third quarter 2021 net income source of Q3621 million. of $1. 11 compared to $4. 25 in the second quarter of 2022 and $4. 17 in the third quarter of 2021.
Analysis of sectoral operations2, 11
NAFTA
* NAFTA metal shipments come with shipments obtained through NAFTA from Group subsidiaries and sold to Calvert JV, which are removed from consolidation.
NAFTA crude metal production increased 4. 1% to 2. 1 Mt in Q3 2022, compared to 2. 0 Mt in Q2 2022 (which was negatively impacted by trade action in Mexico and maintenance in Canada). Crude metal production in Q3 2022 increased by 6. 6% compared to the third quarter of 2021, which was impacted by operational disruptions (including the effect of Hurricane Ida) in Mexico.
Steel shipments in the third quarter of 2022 decreased -4. 6% to 2. 3 Mt, to 2. 5 Mt in the second quarter of 2022 due to weaker demand, and increased by 2. 6% to the third quarter of 2021, which was affected by the points discussed above.
Third quarter 2022 sales decreased -5. 9% to $3400 million from $3700 million in the second quarter of 2022, primarily due to lower average metal promotion costs (-9. 6%) and decreased metal shipment volumes, partially offset by ArcelorMittal Texas HBI’s reach effect (consolidated effective June 30, 2022). Sales were strong in the third quarter of 2022 compared to the third quarter of 2021 at $3. 4 billion, primarily due to lower average metal promotion costs (-8. 6%) offset by higher metal shipping volumes (-2. 6%) and ArcelorMittal Texas HBI’s reach effect.
Parts for the third quarter of 2022 of $0. 1 billion are the acquisition gain on the acquisition of HBI’s Texas plant.
The source of operating income in the third quarter of 2022 decreased by -24. 5% to $616 million from $817 million in the second quarter of 2022 and by -33. 4% from $925 million in the third quarter of 2021.
Third quarter 2022 EBITDA of $638 million decreased -29. 9% from Q910 million in Q2022, primarily due to a negative price-cost effect and the effect of declining metal shipments. The recently acquired HBI plant in Texas contributed $31 million to EBITDA in the third quarter 2022. The second quarter of 2022 had a negative effect of $0. 1 billion following trade action in Mexico. EBITDA in the third quarter of 2022 decreased -35. 9% compared to $995 million in the third quarter of 2021, basically due to a negative price-cost effect.
Brazil16
Crude metals production in the Brazilian segment decreased -3. 8% to 3. 0 Mt in Q3 2022, to 3. 1 Mt in Q2 2022 and -4. 6% in Q3 2021.
Steel shipments of 2. 8 Mt in Q3 2022 decreased by -5. 5% compared to 3. 0 Mt in Q2 2022, mainly due to declining exports, but solid compared to Q3 2021.
Third quarter 2022 sales decreased -12. 5% to $3500 million from $4 billion in the second quarter of 2022, primarily due to a -7. 8% decrease in average metal promotion costs. Average selling costs of metals (-4. 9%).
Third quarter 2022 operating profit of $598 million less than $1,201 million in the second quarter of 2022 and $1,164 million in the third quarter of 2021. Third quarter 2021 operating income source impacted through exceptional parts of $123 million similar to expected prices for dam decommissioning at the Serra Azul mine in Brazil.
EBITDA in Q3 2022 decreased -48. 5% to $655 million compared to $1,272 million in 2Q22, basically due to a negative price-cost effect, lower metal shipments and a negative effect on currency translation ($0. 1 billion), while the second quarter of 2022 also benefited from a gain of USD 200 million similar to prior-year’s Pis/Cofins tax credits for scrap purchases17. EBITDA in the third quarter of 2022 was -51. 3% lower than the USD 1346 million in the third quarter of 2021, mainly due to a negative price-cost effect.
Europe ×
Crude metal production in the Europe segment decreased -3. 2% to 8. 0 Mt in the third quarter of 2022 from 8. 3 Mt in the second quarter of 2022. higher energy prices. Given weaker macroeconomic situations and order book, higher energy and carbon costs, and emerging imports, the Company announced additional and larger production discounts starting in the fourth quarter of 2022 (in France, Spain, Germany and Poland)21 to align source demand.
Steel shipments decreased -11. 1% to 7. 1 Mt in Q3 2022 from 8. 0 Mt in Q2 2022 due to seasonality and declining demand. Shipments decreased -6. 2% from 7. 6 Mt in Q3 2021, mainly due to an evident decrease in demand.
Third quarter 2022 sales were down -20. 5% to $10. 7 billion, compared to $13. 4 billion in the second quarter of 2022, due to -11. 1% relief in metal shipments and an -11. 0% reduction in average selling costs (including a negative currency impact of -5. 5%). Sales were down -4. 8% compared to the third quarter of 2021, basically due to reduced metal shipments, partially offset by higher average metal promotion costs (-4. 7%).
Third quarter 2022 special portions of $473 million relate to non-cash inventory expenses to reflect IFRS net inventory realization with lower market prices.
Operating profit in the third quarter of 2022 decreased to $158 million from $2063 million in the second quarter of 2022 and less than $1925 million in the third quarter of 2021.
Third quarter 2022 EBITDA of $931 million decreased particularly from the second quarter’s $2389 million due to the effect of declining metal shipments, negative price-cost effect, higher energy costs (approximately $300 million more than the second quarter of 2022, with higher market costs partially offset through hedges in place) and negative has an effect on currency translation ($0. 1 thousand million).
EISH14
Crude metal production in the ACIS segment in the third quarter of 2022 increased by 46. 0% to 1. 8 Mt compared to 1. 3 Mt in the second quarter of 2022, mainly due to the recovery in South Africa following the influence of a two-week labor move and logistical issues in the last quarter. Crude metal production in the third quarter of 2022 was -38. 9% lower than 3. 0 Mt in the third quarter of 2021, basically due to the decline in metal production in Ukraine due to the ongoing war.
One of the 3 blast furnaces in Ukraine, blast furnace No. 6, which represents approximately 20% of Kryvyi Rih’s capacity, was restarted on April 11, 2022. During the third quarter of 2022, iron ore production was temporarily suspended due to decreased demand and logistical constraints (compared to a capacity rate of around 55% in the second quarter of 2022) and restarted in early October 2022 at a point of around 25%.
Steel shipments in Q3 2022 increased by 37. 6% to 1. 7 Mt compared to 1. 2 Mt in Q2 2022, mainly due to higher exports from Kazakhstan. Shipments decreased by -29. 2% compared to 2. 4 Mt in Q3 2021, basically to Ukraine due to the ongoing war.
Third quarter 2022 sales increased 5. 7% to USD 1600 million from USD 1500 million in the second quarter of 2022, mainly due to higher metal shipments, partially offset by a -16. 5% decrease in average metal selling prices.
Third quarter 2022 operating loss of $55 million compared to operating revenue source of $43 million in the second quarter of 2022 and $808 million in the third quarter of 2021.
EBITDA of $38 million in Q3 2022 down from $149 million in Q2 2022, basically due to lower average metal promotion costs (-16. 5%) partially offset by higher metal shipments. ArcelorMittal in South Africa ($100 million). EBITDA in the third quarter of 2022 below $920 million in the third quarter of 2021 due to decreased metal shipments (-29. 2%) and decreased average metal promotion costs (-10. 5%).
Mining
Note: Mining includes the iron ore operations of ArcelorMittal Mines Canada and ArcelorMittal Liberia.
Iron ore production was minimized in the third quarter of 2022 to -5. 3% to 6. 9 Mt from 7. 3 Mt in the second quarter of 2022, but above 6. 8 Mt in the third quarter of 2021. The minimum production in the third quarter of 2022 compared to the second quarter of 2022 was basically due to a minimum production in AMMC6 basically due to the effects of exceptionally heavy rains in September 2022.
Iron ore shipments decreased in the third quarter of 2022 to -8. 4% to 6. 9 Mt compared to 7. 5 Mt in the second quarter of 2022, mainly due to the effect of declining production on shipments at AMMC. Iron ore shipments for the third quarter of 2022 remained solid compared to the third quarter of 2021.
Third quarter 2022 operating profit $254 million, compared to $463 million in the second quarter of 2022 and $741 million in the third quarter of 2021.
EBITDA in the third quarter of 2022 decreased to $311 million from $527 million in the second quarter of 2022, largely reflecting the effect of declining iron ore reference costs (-24. 8%), declining quality premiums and decreased shipments (-8. 4%), partially offset through decreased transportation costs. EBITDA in the third quarter of 2022 was lower than $797 million in the third quarter of 2021, primarily due to lower iron ore reference costs (-36. 5%) and declining quality premiums.
Joint ventures
ArcelorMittal has investments in various joint ventures and related entities globally. The company considers the Calvert (50% stake) and AMNS India (60% stake) joint ventures to be of specific strategic importance, so more detailed data is required to understand their operational functionality and price to the Company.
Calvert5
* Production: all production of the hot belt rolling mill adding the processing of slabs in return for the entities of the ArcelorMittal organization and third parties, adding stainless metal slabs.
** Shipments: adding shipments of finished product prepared contract for entities of the ArcelorMittal organization and third parties, adding stainless metal products.
Calvert’s EBITDA presented here on a one hundred percent basis as an independent business and in accordance with the Company’s policy, weighted average stock accounting method.
Production of Calvert’s hot belt rolling mill (“HSM”) in the third quarter of 2022 decreased -6. 4% to 1. 1 Mt in the second quarter of 2022 and -14. 9% in the third quarter of 2021.
Steel shipments in the third quarter of 2022 had a decrease of -8. 3% in the second quarter of 2022 due to decreased demand.
Third quarter 2022 EBITDA*** of $2 million was particularly lower than $261 million in Q2022, primarily due to the negative price-charge effect resulting from decreased promotion charges for non-contract volumes, while the charge continues to have a lagging effect. Schedule the cost of slabs and stocks that do not reflect current market costs. The effect on weighted average cost of inventories compared to replacement cost in the third quarter of 2022 was approximately $200 million.
NSMA India4
Crude metal production in the third quarter of 2022 is solid at 1. 7Mt through the second quarter of 2022, but down -12. 1% to 1. 9Mt in the third quarter of 2021 due to maintenance.
Steel shipments in the third quarter of 2022 increased 8. 2% to 1. 6Mt from 1. 5Mt in the second quarter of 2022, up from 1. 8Mt in the third quarter of 2021.
Third quarter 2022 EBITDA of $204 million less than $365 million in the second quarter of 2022, due to declining sales prices, rising coal prices and decreasing contribution from pellet sales (following the arrival of the export rate in the previous quarter) partially offset through a construction in metal shipments.
Liquidity and capital resources
Net money provided through operating activities for the third quarter of 2022 $1981 million, compared to $2554 million in the second quarter of 2022 and $2442 million in the third quarter of 2021. Net money provided through operating activities in the third quarter of 2022 includes current capital investment of $580 million compared to investments of $1008 million in the second quarter of 2022 and $2,896 million in the third quarter of 2021. Working capital needs in the third quarter of 2022 were basically due to the lagged effects of higher raw curtain prices and higher energy prices on metal inventories. Based on existing market conditions, the Company expects current capital to be launched in the fourth quarter of 2022.
Capital spending in the third quarter of 2022 was $784 million, compared to $655 million in the second quarter of 2022 and $675 million in the third quarter of 2021. Full-year 2022 capital spending direction was reduced to $3. 5 billion (vs. $4. 2 billion for the previous forecast), implying fourth quarter 2022 capex of approximately $1. 5 billion. The relief in the investment forecast reflects moderate delays in some strategic spending and decarbonization plans due to project/contractor mobilization, but they are now accelerating. There was also $200 million of foreign exchange relief from the original 2022 budget (lower than previous forecasts) as the company capitalizes on an era of weaker production and prepares for obvious stronger long-term demand. Investment plans and guidance for 2023 will be provided on 2022 outcomes in February 2023, but second half 2022 run rate grades are a smart baseline for 2023. Given the strategic pipeline Previously announced ($3. 65 billion over 3 years), the company expects capex for strategic projects in 2023 to be higher than in all of 2022 ($0. 7 billion). Decarbonization-related capex is expected to increase in 2023, from $200 million in 2022. 13
Net money used in other investment activities in the third quarter of 2022 $19 million, primarily similar to investment in Form Energy Inc. (through the XCarbTM innovation fund), compared to $886 million in the second quarter of 2022 (primarily similar to the acquisition of HBI, Texas plant). Net money provided through other investment activities in the third quarter of 2021 of $1. 184 billion included an inflow of money primarily similar to the repurchase of similar Cleveland Cliffs stock.
Net money spent on financing activities in Q3 2022 $219 million, compared to $1651 million in Q2 2022 and $2740 million in Q3 2021. for a total amount of $712 million (of which $649 million paid at the end of September 2022 and $63 million settled at the beginning of October 2022) and paid minority dividends of $124 million paid basically to AMMC’s minority shareholders.
Gross debt increased to $9. 0 billion as of September 30, 2022, from $8. 8 billion as of June 30, 2022 and $8. 4 billion as of December 31, 2021. Net debt decreased from $0. 3 billion to $3. 9 billion as of September 30, 2022 Matrix of $4. 2 billion as of June 30, 2022, and decreased to $0. 1 billion from $4. 0 billion as of December 31, 2021.
As of September 30, 2022 and June 30, 2022, the Company had liquidity of $10. 6 billion and $10. 1 billion, respectively. As of September 30, 2022, liquidity consisted of money and cash equivalents of $5. 1 billion (cash equivalents of $4. 6 billion) and $5. 5 billion of available credit lines7. As of September 30, 2022, the average age of debt is 5. 5 years.
Return on capital
Following the final touch of its previously announced percentage repurchase plans (totaling 65. 1 million percentages as of the first half of 2022), the Company announced a new percentage repurchase program on July 29, 2022 to acquire an additional 60 million percentages through the end of May 2023. . Maximum number of percentages that can be acquired under the authorization of existing shareholders. Under this program, the Company reacquired approximately 31 million percentages at a charge of $700 million in Q3 2022.
Perspectives
The Company has adapted its capacity for the fourth quarter of 2022 to cope with evident weak demand and emerging energy prices, particularly in Europe. Apparent demand for situations is expected to improve as the existing stock-reduction phase matures. low capacity utilization, optimizing energy consumption and reducing constant prices of unproductive capacity. At existing spot levels, variable prices consistent with the tonne (raw fabrics and energy) are expected to fall in the fourth quarter of 2022, but less than earnings consistent with the tonne. Working capital is expected to have peaked, and the expected easing from the fourth quarter of 2022 to 2023 deserves to help lose the flow of money.
The Company expects to mitigate some of the constant prices of spare capacity in the fourth quarter of 2022, i. e. , use the economy for government unemployment; reduction of operating hours, etc.
Based on the prospect of a slowdown in actual demand and downsizing of the chain, ArcelorMittal forecasts the following demand across the key region:
Consolidated summary of ArcelorMittal’s monetary position1
Consolidated monetary summary of ArcelorMittal’s operations1
ArcelorMittal’s consolidated cash flow summary1
Appendix 1: Product Shipments Through Region1,2
Note: “Other and disposals” are shown in the table
Appendix 2: Capital expenditures1,2
Note: “Other” is displayed in the table
Annex 3: Debt schedule as of September 30, 2022
Appendix 4: Reconciliation of gross to net debt
Appendix 5: Terms and definitions
Unless otherwise indicated, or as the context requires, references in this press release to the following terms have the meanings set forth below:
Apparent consumption: calculated as the sum of production plus imports minus exports.
Average metal promotion prices: calculated as metal sales divided by metal shipments.
Cash and money equivalents: represents money and money equivalents, limited money and short-term investments.
Capex: represents the acquisition of property, plant and equipment and intangible assets.
Raw metal production: metal in forged state after melting, for further processing or sale.
Depreciation: refers to amortization and depreciation.
EPS: refers to fundamental or diluted earnings consistent with participation.
EBITDA: source of operating income plus depreciation and amortization and exceptional items.
EBITDA/tonne: calculated as EBITDA divided by total metal shipments.
Exceptional items: source of income / (expenses) correspond to significant, infrequent or non-representative transactions of the general line of business for the period.
Foreign exchange and other net monetary income/(loss): come with the effect of exchange rates, bank charges, interest on pensions, impairment of monetary assets, revaluation of derivatives and other expenses that cannot be directly similar to trading purposes
Free money (FCF): corresponds to net money provided through operating activities minus capital expenditures minus dividends paid to minority shareholders
Gross debt: long-term debt and debt.
Iron ore reference price: refers to iron ore for 62% Fe CFR China.
Kt: designates the thousand metric tons.
Liquidity: Money and money equivalents plus available lines of credit Advertising paper program backstops.
LTIF: The lost time destination turn frequency rate is equivalent to the lost time destination turn consistent with one million hours worked, based on one’s own body of workers and subcontractors.
Mt: refers to the million metric tons.
Net debt: long-term debt and short-term debt minus money and money equivalents.
Net debt/EBITDA LTM: corresponds to debt divided by EBITDA.
Net interest expense: interest expense minus interest income
Operating results: refers to the result.
Operating segments: The NAFTA segment includes flat, long and tubular operations in Canada, Mexico; and also includes all mines in Mexico. The Brazil segment contains the flat, long and tubular operations of Brazil and its neighboring countries, adding Argentina, Costa Rica, Venezuela; and also includes the captive iron ore mines Andrade and Serra Azul. The Europe segment includes the flat, long and tubular operations of the European business, as well as downstream solutions, and also includes the captive iron ore mines of Bosnia and Herzegovina. The ACIS segment includes flat, long and tubular operations in Kazakhstan, Ukraine and South Africa; and also includes captive iron ore mines in Ukraine and iron ore and coal mines in Kazakhstan. The mining segment includes the iron ore operations of ArcelorMittal Mines Canada and ArcelorMittal Liberia.
Own production of iron ore: the whole of all finished production of fines, concentrates, granules and lumps and participation in production.
Price-cost effect: lack of correlation or delay in corollary dating between uncooked metal costs and metal costs, which may have a positive effect (i. e. , a greater difference between metal costs and unfired costs) or a negative effect (i. e. , a compression or reduction in the hole between metal costs and raw costs).
Shipments: Segment-level and group-level data eliminates intra-segment shipments (which are basically between flat/long and tubular installations) and cross-segment shipments, respectively. Deliveries of downstream solutions are excluded.
RICT: refers to the incentive plan.
LTIP: refers to the long-term incentive plan.
Change in working capital (investment/release of working capital): replacement movement in working capital: accounts receivable plus inventory minus suppliers and accounts payable.
Footnotes
Third Quarter 2022 Earnings Call Analyst
ArcelorMittal’s control will hold a convention call for investment network members to provide and comment on the three- and nine-month periods ending September 30, 2022 on: Thursday, November 10, 2022 at 9:30 a. m. M. , Eastern Time; 14:30 London time and 15:30 CET.
Join the call via phone player code 7995055 # or use the live audio webcast link.
https://interface. eviscomedia. com/player/1148/
Please the effects segment on our online page to keep an eye out for the reaction once the event is over https://corporate. arcelormittal. com/investors/effects
Forward-Looking Statements
This document may include forward-looking statements and data about ArcelorMittal and its affiliates. These statements contain monetary projections and estimates and their underlying assumptions, statements regarding long-term plans, objectives and expectations relating to operations, products and services, and statements regarding long-term performance. Forward-looking statements may be known by the words “believe,” “expect,” “anticipate,” “target” or similar expressions. Although ArcelorMittal’s control believes that the expectations reflected in such forward-looking statements are reasonable, investors and security holders of ArcelorMittal are cautioned that forward-looking statements and data are subject to dangers and uncertainties, many of which are misleading and, sometimes they are outside the control of ArcelorMittal. , which may also cause actual developments and effects to differ materially and adversely from those expressed, implied or projected through forward-looking data and statements. These dangers and uncertainties come with those discussed or known in the documents filed with the Luxembourg Commission de Surveillance du Secteur Financier and the United States Securities and Exchange Commission (the “SEC”) made or to be made through ArcelorMittal, adding ArcelorMittal’s most recent annual report on Form 20-F filed with the SEC. ArcelorMittal assumes no legal responsibility to publicly update its forward-looking statements, whether as a result of new data, long-term events or otherwise.
About ArcelorMittal
ArcelorMittal is one of the world’s leading metallurgical and mining companies, with a presence in 60 countries and number one in metal production in 16 countries. Production reached 50. 9 million metric tons.
Our purpose is to help build a better world with smarter metals. Steels made using state-of-the-art processes that consume less energy, emit less carbon and reduce costs. Cleaner, more powerful and reusable metals. Steels for electric cars and renewable energy infrastructure that will help societies in their transformation this century. With metal at our core, our creative workers, and an entrepreneurial culture at heart, we will help the world make this change. This is what we want the metallurgical company of the future to be.
ArcelorMittal is listed on the New York Stock Exchange
Applications
ArcelorMittal Investor Relations: 44 207 543 1128; Trade: 44 207 543 1156; SRI: 44 207 543 1156 and Bonds/credit: 33 1 71 10 26.
ArcelorMittal Communications) 44 207 629 7988. Contact: Pablo Pesa 44 203 214 2419.
Attachment