ArcelorMittal Files 6-K for Q2 2024 Results

TL;DR

ArcelorMittal dropped its Q2 2024 numbers, check the filing for the deets.

AI Summary

ArcelorMittal reported its financial results for the period ending June 30, 2024. The filing includes data for the second quarter of 2024 and the first six months of the year, comparing it to the same periods in 2023. Specific financial figures and share data are detailed within the report.

Why It Matters

This filing provides investors with an update on ArcelorMittal's financial performance and position as of mid-2024, crucial for assessing the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a routine financial filing (6-K) providing an update on financial results and is not indicative of new or elevated risks.

Key Numbers

• 2024-06-30 — Reporting Period End Date (Indicates the end of the period for which financial data is presented.)
• 2023-06-30 — Prior Period End Date (Used for comparison with the current reporting period.)

Key Players & Entities

• ArcelorMittal (company) — Filer of the report

FAQ

Key Financial Figures

• $32.5 b — continents. ArcelorMittal had sales of $32.5 billion, steel shipments of 27.3 million
• $37.1 b — June 30, 2024, as compared to sales of $37.1 billion, steel shipments of 28.7 million
• $125 — . Although iron ore prices rebounded to $125/t average in the first quarter of 2023,
• $113 — ond and third quarters to an average of $113/t. Iron ore prices then rebounded to an
• $132 — prices then rebounded to an average of $132/t over November 2023 to February 2024 s
• $112 — on ore prices declined to an average of $112/t during the second quarter of 2024. An

Filing Documents

• mt-20240630.htm (6-K) — 1930KB
• mt-20240630_g1.jpg (GRAPHIC) — 765KB
• mt-20240630_g2.jpg (GRAPHIC) — 654KB
• 0001243429-24-000052.txt ( ) — 13649KB
• mt-20240630.xsd (EX-101.SCH) — 88KB
• mt-20240630_cal.xml (EX-101.CAL) — 80KB
• mt-20240630_def.xml (EX-101.DEF) — 374KB
• mt-20240630_lab.xml (EX-101.LAB) — 751KB
• mt-20240630_pre.xml (EX-101.PRE) — 537KB
• mt-20240630_htm.xml (XML) — 1832KB

From the Filing

mt-20240630 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 Dated August 2, 2024 Commission File Number 001-35788 ARCELORMITTAL (Translation of Registrant's name into English) 24-26, boulevard d'Avranches, L-1160 Luxembourg, Grand Duchy of Luxembourg (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F Form 40-F The following report on Form 6-K shall be deemed to be incorporated by reference in the registration statement on Form F-3 (No. 333-278551) of ArcelorMittal and the Prospectuses incorporated therein. This report on Form 6-K contains the Company's interim management report for the half-year ended June 30, 2024 (starting on page 3 ), including its interim condensed consolidated financial statements for the six months ended June 30, 2024 (starting on page 39 ). Interim Management Report Company overview 3 Business overview 4 Key transactions and events 32 Sustainable development highlights 34 Corporate governance 35 Cautionary statement regarding forward-looking statements 38 Interim Condensed consolidated financial statements as of and for the six months ended June 30, 2024 39 Condensed consolidated statements of operations 40 Condensed consolidated statements of other comprehensive income 41 Condensed consolidated statements of financial position 42 Condensed consolidated statements of changes in equity 43 Condensed consolidated statements of cash flows 44 Notes to the interim condensed consolidated financial statements 45 Exhibit index 64 Company secretary signature 65 Interim Management Report 3 Company overview Company overview ArcelorMittal including its subsidiaries ("ArcelorMittal" or the "Company") is one of the world's leading integrated steel and mining companies, with steel-making operations in 15 countries on four continents. ArcelorMittal had sales of $32.5 billion, steel shipments of 27.3 million tonnes, crude steel production of 29.1 million tonnes and iron ore production of 19.7 million tonnes (Mining segment iron ore production of 12.4 million tonnes) for the six months ended June 30, 2024, as compared to sales of $37.1 billion, steel shipments of 28.7 million tonnes, crude steel production of 29.2 million tonnes, iron ore production of 21.3 million tonnes (Mining segment iron ore production of 13.1 million tonnes) for the six months ended June 30, 2023. ArcelorMittal's steel-making operations include 37 integrated and mini-mill steel-making facilities. ArcelorMittal is the largest steel producer in Europe and among the largest in the Americas, and has a growing presence in Asia, including India, through its joint venture AMNS India. ArcelorMittal produces a broad range of high-quality finished and semi-finished steel products ("semis"). Specifically, ArcelorMittal produces flat products, including sheet and plate, and long products, including bars, rods and structural shapes. It also produces pipes and tubes for various applications. ArcelorMittal sells its products primarily in local markets and to a diverse range of customers in approximately 140 countries, including the automotive, appliance, engineering, construction and machinery industries. ArcelorMittal has a global portfolio of 9 operating units with mines in operation and development and is among the largest iron ore producers in the world. The Company has iron ore mining activities in Brazil, Bosnia, Canada, Liberia, Mexico, Ukraine, South Africa and through its joint venture in India and associate in Canada (Baffinland). ArcelorMittal's main mining products include iron ore lump, fines, concentrate, pellets and sinter feed. This report includes net debt, gearing and operating working capital, which are non-GAAP financial measures. ArcelorMittal believes net debt, gearing and operating working capital to be relevant to enhance the understanding of its financial position and provide additional information to investors and management with respect to the Company's operating cash flows, capital structure and credit assessment. The Company's guidance as to its working capital release (or the change in working capital included in net cash provided by operating activities) for 2024 is based on the same accounting policies as those applied in the Company's financial statements prepared in accordance with IFRS. ArcelorMittal is unable to reconcile, without unreasonable effort, such guidance to the most directly comparable IFRS financial measure, due to the uncertainty and inherent difficulty of predicting the occurrence and the financial impact of items impacting comparability. Non-GAAP financial measures should be read in conjunction with and not as an alternative for, ArcelorMittal's financial information prep

View Full Filing

View this 6-K filing on SEC EDGAR