ArcelorMittal reports second quarter 2020 and half year 2020 results


ArcelorMittal (referred to as “ArcelorMittal” or the “Company”) (MT (New York, Amsterdam, Paris, Luxembourg), MTS (Madrid)), the world’s leading integrated steel and mining company, today announced results1 for the three-month and six-month periods ended June 30, 2020

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30/07/2020 |
  • ArcelorMittal - European statement


  • Health and safety: Protecting the health and wellbeing of employees remains the Company’s overarching priority; LTIF rate of 0.77x in 2Q 2020 and 0.91x in 1H 2020
  • Operating performance in 2Q 2020 reflects the negative impact of the COVID-19 pandemic primarily on the steel business, with reduced demand leading to a 23.7% sequential reduction in steel shipments (1H 2020 shipments 23% lower YoY)
  • Operating loss of $0.3bn in 2Q 2020 includes $0.2bn exceptional items (1H 2020 operating loss of $0.6bn includes $0.8bn impairment and exceptional items)
  • EBITDA of $0.7bn in 2Q 2020 (1H 2020 EBITDA of $1.7bn)
  • Net loss of $0.6bn in 2Q 2020 (1H 2020 net loss of $1.7bn, with adjusted net loss of $0.9bn excluding impairment and exceptional items)
  • Free cash outflow was limited to $0.4bn (net cash provided by operating activities of $0.9bn less $1.3bn capex) in 1H 2020 and included a working capital investment of $0.5bn
  • Gross debt of $13.5bn and net debt of $7.8bn as of June 30, 2020 (down $2.3bn vs June 30, 2019) the lowest level achieved since the ArcelorMittal merger
  • Liquidity at the end of 2Q 2020 stood at $11.2bn (consisting of cash and cash equivalents of $5.7bn and $5.5bn of available credit lines)

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