ArcelorMittal earns 90.1% less in 2023, up to 852.17 million, and its shares rise 4%


ArcelorMittal earns 90.1% less in 2023, up to 852.17 million, and its shares rise 4%

MADRID, Feb. 8 (EUROPA PRESS) - The steel giant ArcelorMittal closed the 2023 financial year with an attributable net profit of 919 million dollars (852.17 million euros), which represents a drop of 90.12% compared to the result accounted for in 2022, as reported this Thursday by the multinational to the National Securities Market Commission (CVMV).

ArcelorMittal's sales for the whole of 2023 totaled 68,275 million dollars (63,308.44 million euros), 14.5% below the income of the previous year, while the gross operating result (Ebitda) fell by 46.6%, up to 7,558 million dollars (7,008.8 million euros).

Between October and December, the company recorded net attributable losses of 2,966 million dollars (2,750 million euros), compared to profits of 261 million dollars (242 million euros) in the same period of 2022.

For its part, ArcelorMittal's sales in the fourth quarter of 2023 registered a year-on-year drop of 13.84%, to 14,552 million dollars (13,495 million euros).

The company has explained that performance in 2023 was "severely" affected by the "tragic" accident at the Kostenko mine, in the Karaganda region, located in central Kazakhstan, on October 28, 2023.

ArcelorMittal has commissioned sustainable operations management consulting services provider dss to carry out an "independent and comprehensive" safety audit of all the company's operations, to identify "gaps and strengthen safety actions, processes and culture to help prevent serious accidents.

In this context, the multinational has detailed that the "main recommendations" will be published next September.

ArcelorMittal CEO Aditya Mittal estimated that looking ahead, "there are signs of a more constructive environment in the sector." "This, together with the progress we are making with our portfolio of strategic growth projects, several of which will be completed this year, means that the company will continue to take important steps in its quest to be a stronger, more profitable and, of course, safer."

The company's shares rose more than 4% on the stock market around 9:30 a.m., up to 26.22 euros per share, although it started the trading day with a rise of 2.34%, with its shares at 25.785 euros.