MT.AS - ArcelorMittal

Amsterdam - Amsterdam Delayed Price. Currency in EUR
11.78
+0.34 (+2.94%)
At close: 5:37PM CEST
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Previous Close11.50
Open11.61
Bid0.00 x 0
Ask0.00 x 0
Day's Range11.48 - 11.78
52 Week Range11.20 - 27.95
Volume5,947,151
Avg. Volume6,399,340
Market Cap11.98B
Beta (3Y Monthly)1.78
PE Ratio (TTM)5.81
EPS (TTM)2.03
Earnings DateNov 7, 2019
Forward Dividend & Yield0.18 (1.55%)
Ex-Dividend Date2019-05-16
1y Target Est37.97
  • Reuters

    Ukraine ArcelorMittal promises investments after pollution charges

    ArcelorMittal's Ukrainian steel mill, charged with violating environmental standards, will invest $1.8 billion over the next five years to reduce air emissions by 50-55 percent, the company said on Thursday. The decision to invest in the plant's modernisation followed a meeting with Ukrainian President Volodymyr Zelenskiy and his officials, it said in a statement. The plant's acting head Oleksandr Ivanov said the investigation had started after Zelenskiy publicly criticised pollution levels in mid-July when speaking to officials in his hometown of Kryvyi Rih, where the mill is based.

  • Thomson Reuters StreetEvents

    Edited Transcript of MT.AS earnings conference call or presentation 1-Aug-19 1:30pm GMT

    Q2 2019 ArcelorMittal SA Earnings Call

  • Italy set to give ArcelorMittal guarantees to avoid Ilva shutdown: source
    Reuters

    Italy set to give ArcelorMittal guarantees to avoid Ilva shutdown: source

    Italy's ruling coalition is set to offer ArcelorMittal, the world's largest steelmaker, legal guarantees to ensure that it does not shut down the Ilva plant it bought last year, a government source told Reuters on Wednesday. In late June, the Italian parliament revoked the legal immunity that ArcelorMittal received as part of its purchase of the heavily polluting steel plant, Europe's largest, which it promised to bring up to required environmental standards.

  • ArcelorMittal Shifts to Loss
    GuruFocus.com

    ArcelorMittal Shifts to Loss

    Challenging market conditions continue to hurt the steel company's revenue Continue reading...

  • GlobeNewswire

    ArcelorMittal announces publication of its 2019 half-year report

    2 August 2019, 19:30 CET- ArcelorMittal has today published its half-year report for the six-month period ended 30 June 2019. The report is available on http://corporate.arcelormittal.com/ under Investors Financial reports Half-year reports, and on the electronic database of the Luxembourg Stock Exchange (www.bourse.lu/). The report has also been filed on Form 6-K with the U.S. Securities and Exchange Commission (SEC) and is available on http://corporate.arcelormittal.com/ under Investors Financial reports SEC filings.

  • ArcelorMittal Warns on Steel Demand as Earnings Hit 3-Year Low
    Bloomberg

    ArcelorMittal Warns on Steel Demand as Earnings Hit 3-Year Low

    (Bloomberg) -- ArcelorMittal delivered more bearish news for the steel industry, saying global demand could be weaker than previously expected as the company struggles with low steel prices and high costs for raw materials. The company, the world’s biggest steelmaker, said Ebitda fell 49% to $1.6 billion during the second quarter. It’s the lowest results for the company since early 2016. It also reported an operating loss of $0.2 billion for the quarter, citing asset writedowns and sales after its Italia acquisition. Key InsightsArcelorMittal said global steel demand will increase 0.5% to 1.5% this year, cutting the low-end of the forecast. In May, the company said demand worldwide would be at least 1%. Europe remains the weakest region. Steel demand could contract as much as 2% in 2019, ArcelorMittal said. The industry has been hard hit by a slowdown in sales, caused by Germany’s weak auto industry and competition from cheaper imports. A surge in iron ore is also making it more expensive to churn out steel. "Market conditions in the first half of 2019 have been very tough," said CEO Lakshmi Mittal. He urged European regulators to take action and limit steel imports, saying the industry needs to create "a level-playing field."Get MoreKey figures hereStatement hereTo contact the reporter on this story: Elena Mazneva in London at emazneva@bloomberg.netTo contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net, Liezel HillFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • ArcelorMittal cuts steel demand forecast, targets asset sales
    Reuters

    ArcelorMittal cuts steel demand forecast, targets asset sales

    The world's biggest steelmaker ArcelorMittal cut its forecast for global steel demand, with a sharper reduction now envisaged in Europe due to a lean automotive market. ArcelorMittal shares, which had fallen 20% in the year to date before Thursday, were up 1.5% in early trading. It said Europe would see a decline of between 1% and 2%, having previously forecast a contraction of up to 1%, and also trimmed its expansion hopes for the United States and Brazil.

  • GlobeNewswire

    ArcelorMittal reports second quarter 2019 and half year 2019 results

    Luxembourg, August 1, 2019 - ArcelorMittal (referred to as “ArcelorMittal” or the “Company”) (MT (New York, Amsterdam, Paris, Luxembourg), MTS (Madrid)), the world’s leading.

  • European Steel Profits Look Grim as Arcelor Gets Ready to Report
    Bloomberg

    European Steel Profits Look Grim as Arcelor Gets Ready to Report

    (Bloomberg) -- The pain rippling through European steel is increasingly apparent as smaller companies in the industry set the stage for ArcelorMittal’s results tomorrow.Germany’s Kloeckner & Co. SE and Luxembourg-based Aperam SA both reported declines in second-quarter earnings and warned that the third quarter will be even worse.The industry is dealing with slumping sales, especially to European automakers, and is struggling to compete against cheaper imports from overseas. A surge in iron-ore prices is also making it more expensive to churn out steel, further cutting into earnings.ArcelorMittal, the world’s biggest steelmaker, will report its second-quarter results on Thursday, followed by Germany’s Thyssenkrupp AG next week. ArcelorMittal is expected to post the lowest quarterly profit since 2016, reporting a 48% drop in earnings before interest, taxes, depreciation and amortization to $1.59 billion, according to analyst forecasts compiled by Bloomberg.The drop is remarkable because early 2016 stands as one of the worst periods for the industry and a time when markets were flooded with cheap steel from China.ArcelorMittal said in June that the troubled European market was showing signs of bottoming out amid hopes that iron ore prices will stabilize later this year.It’s unlikely that the third quarter will show any improvement for the EU’s steel market, said Sergey Donskoy, an analyst at Societe Generale SA. He said it’s possible that the fourth quarter could be better if auto demand rebounds. To contact the reporter on this story: Elena Mazneva in London at emazneva@bloomberg.netTo contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net, Liezel HillFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • GlobeNewswire

    ArcelorMittal announces publication of notice of redemption of the entire outstanding amount of its 5.125% Notes due June 1, 2020 and its 5.250% Notes due August 5, 2020 

    Following prior tender offers, there is currently the following outstanding principal amount of 5.125% Notes and 5.250% Notes, respectively:  U.S.$324,229,000 (original issuance of U.S.$500,000,000) and U.S.$625,630,000 (original issuance of U.S.$1,000,000,000). The 5.250% Notes shall be redeemed at a price equal to the greater of (1) 100% of the principal amount of the Notes to be redeemed and (2) the sum of the present values of the Remaining Scheduled Payments (as defined in the Indenture) of the Notes to be redeemed, discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined in the indenture dated as of May 20, 2009, as supplemented by the third supplemental indenture dated as of August 5, 2010, each between the Company and HSBC Bank USA, National Association) plus 40 basis points (the “5.250% Redemption Price”), in each case plus accrued and unpaid interest thereon to the Redemption Date.

  • US Steel Stocks Are Rising Amid Uptrend in Pricing
    Market Realist

    US Steel Stocks Are Rising Amid Uptrend in Pricing

    US steel stocks are rising in July despite the earnings miss from Nucor and Steel Dynamics. AK Steel's earnings are expected on July 29.

  • Reuters

    UPDATE 1-ArcelorMittal's Ukraine mill says it will lose $1 mln due to environmental probe

    ArcelorMittal's Ukrainian steel mill will lose $1 million this month after a key piece of steelmaking equipment was seized following a security service investigation, the plant's acting head Oleksandr Ivanov said on Tuesday. The probe into Ukraine's largest private foreign investor is seen as an early test for the presidency of Volodymyr Zelenskiy, who has promised to make the country more business friendly. The Ukrainian security service said earlier it had discovered a source of radiation exceeding safe levels in a new piece of equipment at the plant during a search last week, and had banned the company from using it.

  • Reuters

    ArcelorMittal's Ukraine mill says it will lose $1 million due to environmental probe

    ArcelorMittal's Ukrainian steel mill will lose $1 million this month after a key piece of steelmaking equipment was seized following a security service investigation, the plant's acting head Oleksandr Ivanov said on Tuesday. The probe into Ukraine's largest private foreign investor is seen as an early test for the presidency of Volodymyr Zelenskiy, who has promised to make the country more business friendly. The Ukrainian security service said earlier it had discovered a source of radiation exceeding safe levels in a new piece of equipment at the plant during a search last week, and had banned the company from using it.

  • Reuters

    Ukraine's security service says not putting pressure on ArcelorMittal

    Ukraine's security service's acting chief Ivan Bakanov said on Monday that a search at ArcelorMittal's mill in Kryvyi Rih was not an attempt to put pressure on the company. The Ukrainian arm of the world's biggest steelmaker said on Saturday that the state security service had searched its plant, a week after new Ukrainian President Volodymyr Zelenskiy criticized the management. The security service said last week it was investigating the company for activities which caused damage to the environment.

  • India’s Top Court Puts Essar Steel Sale to Arcelor On Hold
    Bloomberg

    India’s Top Court Puts Essar Steel Sale to Arcelor On Hold

    (Bloomberg) -- India’s top court temporarily put ArcelorMittal’s $6.1 billion purchase of Essar Steel India Ltd. on hold, after the mill’s lenders sought to annul a lower court ruling that split sale proceeds proportionately among all creditors.The Supreme Court on Monday admitted financial lenders’ appeal against a bankruptcy court ruling that put secured creditors like banks at par with operational creditors, or suppliers to the plants. It also said it would resolve issues arising from the Essar verdict expeditiously and fix an early date for hearing the case.Financial creditors had said the bankruptcy court’s ruling to modify the distribution of proceeds would lead to higher lending rates and increased risk of capital. The ruling will also deter foreign investments into India’s soured debt, Hong Kong-based SC Lowy said. India is trying to attract foreign capital to its bad loan cleanup, as it battles the worst nonperforming loan ratio among the world’s major economies.ArcelorMittal has been fighting a legal battle for over a year to enter India, where Prime Minister Narendra Modi’s administration is investing trillions of rupees in infrastructure. A lower court had earlier approved Arcelor and its partner Nippon Steel Corp.’s offer to pay 420 billion rupees in cash to creditors and pump in another 80 billion rupees in the country’s fourth-largest steel mill. The payment was halted by Supreme Court in April after a dispute between lenders on the distribution on funds.Earlier this month, the National Company Law Appellate Tribunal allowed ArcelorMittal’s purchase of Essar Steel, while modifying the distribution of the proceeds. The ruling stated that financial lenders will get 60.7% of their claims, and operational creditors will also get around 60% on a pro-rata basis.In addition to banks, the ruling was also challenged by Arcelor as it was asked to part with the around 40 billion rupees of profits that the steel mill generated during the bankruptcy resolution process. The Supreme Court on Monday also admitted Arcelor’s appeal against the bankruptcy court ruling.To contact the reporter on this story: Upmanyu Trivedi in New Delhi at utrivedi2@bloomberg.netTo contact the editors responsible for this story: Unni Krishnan at ukrishnan2@bloomberg.net, ;Phoebe Sedgman at psedgman2@bloomberg.net, Alpana SarmaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters

    ArcelorMittal's Ukraine mill says searched by security service

    The Ukrainian arm of the world's biggest steelmaker said on Saturday that the state security service had searched its plant in Kryvyi Rih, a week after new Ukrainian President Volodymyr Zelenskiy criticized the management. ArcelorMittal has invested about $9 billion in Kryvyi Rih, Ukraine's largest steel mill, which is now under close government scrutiny. "Today, Ukrainian Security Service officials arrived at our plant and carried out a search," Alexander Ivanov, the acting head of the mill, said in a statement.

  • GlobeNewswire

    ArcelorMittal announces the publication of second quarter 2019 Ebitda sell-side analyst consensus figures

    19 July 2019 16.30 CET - ArcelorMittal today announces the publication of its second quarter 2019 EBITDA sell-side analysts’ consensus figures. The consensus figures are.

  • Bloomberg

    India's Bankruptcies Get a Dose of Common Sense

    (Bloomberg Opinion) -- At last, India’s in-court bankruptcies will show some urgency and common sense. On Wednesday, the government said it would amend the 2016 insolvency law, a signature reform of Prime Minister Narendra Modi’s first term. Investors will cheer.The legislation was getting mired in frustrating legal delays and bizarre judgments, threatening to scare off global investors from a $200-billion-plus bad-debt cleanup. The last straw was the recent order by the insolvency tribunal judges in the $6 billion sale of Essar Steel India Ltd. to ArcelorMittal. The judges ruled that secured creditors would have no seniority over unsecured creditors and suppliers. As I have noted, the order would have reduced an assured 92% recovery rate for financial lenders to just 61%. While it has already been appealed by State Bank of India and other lenders in India’s Supreme Court, it’s helpful that the government has decided to get off the sidelines. If the top court had upheld the tribunal’s verdict – on the grounds that the law wasn’t clear about how sale proceeds would be divided – banks would have had to kiss goodbye to substantial recoveries, step up bad-loan provisions and push more salvageable debtors into liquidation, leading to unnecessary job losses. New Delhi had no option but  to step in before the July 22 court hearing. The tweak it proposes “to fill critical gaps in the corporate insolvency resolution process” will explicitly hand power over distribution of proceeds to creditors’ committees. That should return some common sense to a process that would have required financial creditors to share the money from any new buyer of a bankrupt business equally with sundry suppliers and other unsecured lenders. As for urgency, delay tactics by large business families loath to lose their prized assets have pushed bad-debt resolutions such as Essar to more than 600 days; the intent was to wrap up cases in 270 days. Now the Modi government wants the clock to keep ticking even during appeals. Cases have to be admitted speedily and concluded in 330 days flat. It’ll be interesting to see if India’s overburdened judiciary can actually dispose of legal challenges in 60 days. The good news is that any branch of the government, or any tax authority, won’t be able to hold up in-court bankruptcies to recover their dues. Mergers and de-mergers can also be considered alongside outright sales, allowing creditors to extract the most value from unworkable capital structures.Homebuyers, who get equal recognition under the bankruptcy law as financial lenders, are now on creditors’ committees of builders that have gone belly up without delivering the homes they took payments for. Yet having a large and dispersed class of creditors weigh bids from buyers was leading to stalemates. The government is now proposing to streamline the decision-making: If half(1) of the creditors present and voting say yes, plans will move forward. Those not in favor will receive what they would’ve gotten – according to seniority – in liquidation. The changes are bold, practical and badly needed for India to turn the page on a brutal and long downward phase in its credit cycle. Three out of four of the economy’s engines – private investment, consumption and exports – have stalled, while government spending, the overworked last option, is sputtering. Amending the bankruptcy code won’t revive animal spirits overnight, but it would at least prevent a bad situation from getting indefinitely worse.(1) By value of claims.To contact the senior editor responsible for Bloomberg Opinion’s editorials: David Shipley at davidshipley@bloomberg.net, .Andy Mukherjee is a Bloomberg Opinion columnist covering industrial companies and financial services. He previously was a columnist for Reuters Breakingviews. He has also worked for the Straits Times, ET NOW and Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • A Dangerous Debt Ruling in India
    Bloomberg

    A Dangerous Debt Ruling in India

    (Bloomberg Opinion) -- India’s insolvency tribunal has made a dangerous decision. Unless its judgment is quashed, credit costs for India Inc. will surge, shares of state-run banks will swoon and foreign investors will flee.The case concerns the country’s most high-profile bankruptcy, Essar Steel India Ltd. Insolvency judges recently ruled that creditors whose claims are backed by collateral won’t get preferential treatment in the $6 billion sale of the company’s plant to ArcelorMittal. Secured creditors will stand in line with unsecured creditors.This isn’t how it works anywhere in the world, and for good reason. In loans backed by collateral, the lender expects to be paid first out of bankruptcy proceeds. That’s why they accept a lower interest rate than unsecured creditors in the first place. For unsecured lenders to receive any of their money back, there must be something left over after paying the secured creditors.Of the many twists and turns taken in the Essar bankruptcy, this is the most damaging. India has been attracting foreign distressed-debt specialists to help clean up its $200 billion-plus of bad loans. The ruling, if it survives, may kill that trend.Under an agreement with the Essar creditors’ committee, ArcelorMittal’s offer would have made secured financial lenders more than 90% whole. While that’s a good recovery rate, it’s less than 100%, meaning unsecured operational lenders should have had to go empty-handed. In the insolvency judges’ view, though, the committee has no role to play in distributing the sale proceeds. While collateral gives seniority in a liquidation, everyone’s equal in a bankruptcy resolution. Or so the judgment says. As a result, financial creditors will see their take shrivel to 60.7% of claims, while that of the operational creditors will swell to the same level.Those who can expect a bigger share include Standard Chartered Plc, which was complaining about being offered less than 2% of its claim after lending to an Essar Steel subsidiary. Energy companies, power utilities, and even the state tax officer will have the same rank. All operational creditors, who were going to get nothing,(1) will be on a par with State Bank of India and other financial creditors.Consider the implications for future Indian deals. If a secured creditor sells to a distressed-debt specialist, the investor will have overpaid thinking its claim would get settled first and that it would make, say, 40 cents on a 20-cent investment. That won’t happen if the bounty is to be shared much more widely, restricting the payout to, say, 10 cents.State Bank of India, which was expecting full recovery of its 110 billion rupees ($1.6 billion) debt just a few months ago, has approached India’s Supreme Court to overturn the ruling. Hong Kong-based investor SC Lowy also wants to appeal the decision. If the verdict isn’t quashed, credit costs will skyrocket at a time when Indian real-estate developers can’t even borrow at 20%.Borrowers will be willing to pledge assets, but which creditor will be able to put any value on them? Banks will steer most bankruptcies toward liquidation, leading to unnecessary job losses and higher loan-loss provisions in a capital-starved financial system. Global distressed-debt investors have been placing small bets in India, often by standing behind asset reconstruction firms. Now they’ll be unable to price the Indian opportunity.The Essar saga has already gone on for more than 600 days, when the original legal limit was 270 days. Since the billionaire Ruia family that founded Essar didn’t want to cede its crown jewel to ArcelorMittal, an intense legal skirmish was unavoidable. But if India’s 2016 bankruptcy law ends up making matters worse, then the signature reform of Prime Minister Narendra Modi needs an urgent overhaul.The Modi government, now in its second five-year term, is so desperate to ease the country’s financing crunch that it’s even willing to sell sovereign dollar debt, something India has always avoided. To seek capital from risk-averse pension funds while simultaneously repelling risk-loving private equity and vulture funds is an unfortunate distortion of priorities. (1) Only tiny suppliers were going to see any of Mittal's money.To contact the author of this story: Andy Mukherjee at amukherjee@bloomberg.netTo contact the editor responsible for this story: Matthew Brooker at mbrooker1@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andy Mukherjee is a Bloomberg Opinion columnist covering industrial companies and financial services. He previously was a columnist for Reuters Breakingviews. He has also worked for the Straits Times, ET NOW and Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • GlobeNewswire

    ArcelorMittal Announces Pricing of Bond Issue

    Luxembourg, July 12, 2019 08:00 CET – ArcelorMittal (“the Company” or "the Issuer") completed yesterday the pricing of its offering of US$750 million aggregate principal amount of its 3.600% notes due 2024 (the “Series 2024 Notes”) and US$500 million aggregate principal amount of its 4.250% notes due 2029 (the “Series 2029 Notes”). The proceeds to ArcelorMittal (before expenses), amounting to approximately $1.2 billion, will be used for general corporate purposes including future repayment of existing indebtedness and to partially pre-fund commitments under the Essar acquisition financing facility.