Economy & Politics

ArcelorMittal is back on track for growth

The world leader in the steel industry reported on Thursday a significant increase in demand and prices for steel during the first quarter of 2021. This translates into unprecedented financial results for a decade.

Jean-Michel HENNEBERT

Jean-Michel HENNEBERT

The world leader in the steel industry reported on Thursday a significant increase in demand and prices for steel during the first quarter of 2021. This translates into unprecedented financial results for a decade.

If the year 2020 ended with a net loss, the start of 2021 marks a new trend for ArcelorMittal. In accordance with forecasts which forecast an increase in demand of between 4.5 and 5.5%, the global steel giant reported Thursday a net profit, in the first quarter, of $ 2.28 billion ( 1.9 billion euros). And a turnover up nearly 15% compared to the last quarter of 2020.



The steel group presented its projects for 70 million euros on the Differdange site.


Not hesitating to qualify this result as “the best quarter of the decade”, Aditya Mittal, the new CEO of the group, justifies this turnaround “mainly” by the recovery in demand combined with the increase in the selling prices of the group. steel and iron ore (+ 17.8%). In the first three months of the year, sales increased 6.5% to 16.5 million tonnes, from 15.5 million tonnes a year earlier.

As a result of this financial improvement, the group was able to reduce its debt to 5.9 billion euros, the lowest level since the merger of Arcelor and Mittal in 2006. Showing positive signs of the continuation of this trend at Over the next few months, Aditya Mittal claims to want to “maintain a competitive advantage over production costs” and continue the decarbonization process in order to create “a low carbon steel market”.

It should also be noted that the group also aims to “double the number of women in management to reach 25% by 2030”. A new objective justified by the group’s desire to “have a rich and diversified workforce”. In Luxembourg, the group employs some 3,900 people, a level which should go down until 2025 by the elimination of 536 jobs. But without a social plan and without a reduction in activity in Luxembourg under the tripartite agreement signed at the end of January.


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