Arcelormittal Sa · EURONEXT:MT
Arcelormittal Sa — Q1 2025 Earnings Presentation
19 slides from Arcelormittal Sa's earnings presentation, Apr 30, 2025
Slide 1: Q1 2025 Financial Results
Q2 and Financial 1Q 2025 1H 2023Results financial results Leadership presentation April 30, 2025 27th July 2023 Genuino Christino, Chief Financial Officer Daniel Fairclough, Head of Investor Relations
Slide 2: Journey to Zero Fatalities: Implementation of the audit recommendations
Journey to Zero Fatalities: Implementation of the audit recommendations dss+ safety audit recommendations implementation underway Group lost time injuries frequency rate (LTIFR)1 3.2 3.0 2.8 2.6 2.4 2.2 2.0 1.8 1.6 1.4 1.2 1.0 0.8 0.6 For further details on the progress to date on audit safety recom
Slide 3: Key highlights of the 1Q 2025
Key highlights of the 1Q 2025 Delivering higher margins than in prior cycles: EBITDA/t of $116/t in 1Q’25 is significantly above prior cycle lows; EBITDA margins are consistently above historical $1.6bn EBITDA1 average levels, reflecting structural business improvement and benefits of regional/pro
Slide 4: Structural business improvements delivering higher margins than prior cycles
Structural business improvements delivering higher margins than prior cycles Regional diversification… EBITDA split by Structurally higher margins… EBITDA/t in 1Q’25 comfortably segment (1Q’25)1 higher than prior cycle low points ($/t) Sustainable Solutions 600 India and JVs 5% 6% North America 45
Slide 5: Strategic projects have good momentum: support outlook for profitability and cash flows
Strategic projects have good momentum: support outlook for profitability and cash flows EBITDA2 cadence from projects ($bn) Focus on delivering strategic growth projects: The Group‘s high return strategic growth projects, together with impact Inorganic investments1 of Vallourec and Italpannelli are
Slide 6: Liberia: Iron ore 20Mt expansion project on track
Liberia: Iron ore 20Mt expansion project on track New mining team are delivering impressive results both in terms of operational enhancements and project execution Liberia 20Mt expansion project on time and on budget Commissioning of full 15Mt concentrator capacity (lines #1, #2 and #3) is on tr
Slide 7: AMNS Calvert commissioning of the new 1.5Mt EAF is well underway
AMNS Calvert commissioning of the new 1.5Mt EAF is well underway New EAF building New 1.5Mt EAF & caster commissioning well underway Calvert to become the first EAF in North America capable of supplying exposed automotive grades with domestically melted and poured material First heat expected in
Slide 8: AMNS India: transformational expansion on track
AMNS India: transformational expansion on track Strong domestic demand fundamentals remain intact Indian economy primarily focussed on domestic consumption; ASC growth of +6% to +7% expected in 2025 New 12% safeguard duty on steel imports imposed in April 20251 Phase 1 Hazira expansion to 15Mt b
Slide 9: Steel spreads have recovered from unsustainably low levels
Steel spreads have recovered from unsustainably low levels Steel spreads recovered during 1Q’25 from unsustainably low levels ArcelorMittal PMI1 EU: Steel and Metals Action plan supports an improved outlook 58 49.0 54 − Spreads recovered from unsustainability low levels 50 − Enhanced safeguards an
Slide 10: Strong balance sheet supports increased macro uncertainty
Strong balance sheet Business well positioned for increased macro uncertainty Operating with significantly reduced financial leverage Lower cost balance sheet supports strong investable cash flow generation… Net debt ($bn) Lower cost balance sheet and structurally higher operating margins supp
Slide 11: Balance sheet strength supports consistent investment and returns to shareholders
Balance sheet strength supports consistent investment and returns to shareholders Net debt movement YoY ($bn) $1.2bn Shareholder returns $1.9bn $2.1bn Investable cash flow Invested in growth 0.2 0.4 0.8 0.9 1.2 6.7 0.3 4.8 (4.6) 2.7 Net debt March CFO1 Maintenance / Decarb. capex Strategic M&A2 Shar
Slide 12: Shareholder returns: New 2025-2030 buyback program initiated
Shareholder returns: New 2025-2030 buyback program initiated Balanced capital return policy: The Company will continue to return Base dividends1 have been progressively increased ($/sh) a minimum of 50% of post-dividend free cash flow to shareholders Dividends: Dividend per share (DPS) has grown by
Slide 13: Smarter steels for people and planet
Smarter steels for people and planet Progressing our safety journey to zero: Comprehensive dss+ safety audit completed in 2024 Clear business unit-specific action plans have been established that feed into the annual strategic planning process Implementation of a 3-year transformation plan und
Slide 14: Appendix
Appendix 1Q 2025 FINANCIAL PERFORMANCE | page 15 Page 14
Slide 15: EBITDA and steel shipments broadly stable QoQ
EBITDA1 and steel shipments broadly stable QoQ EBITDA bridge 4Q’24 vs. 1Q’25 ($m) North America: EBITDA up QoQ Primarily due to improved Mexico results (post illegal blockade) including higher volumes and a positive (106) price-cost effect 186 (46) Brazil: EBITDA down QoQ Primarily due to lo
Slide 16: 1Q'25 EBITDA to net result
1Q’25 EBITDA to net result ($ million) BASIC EPS 1Q’25 Weighted Av. No. of shares (millions) 768 Earnings per share $1.05 Foreign exchange gain (largely due to the US$ depreciation against most currencies) (656) (48) 115 (186) 1,580 991 805 EBITDA1 D&A Net interest expense Forex and Pre-tax result T
Slide 17: European policy direction is encouraging
European policy direction is encouraging Plans need to be supported by rapid actions Company has been encouraged by the European Commission's Steel and Metals Action Plan showing an understanding of the critical issues. Enhanced safeguards and new anti-dumping measures support the relative outlo
Slide 18: Capex discipline in support of growth and competitive decarbonization
Capex discipline in support of growth and competitive decarbonization Capex1 ($bn) Strategic growth capex envelope 1Q’252 4.5 - 5.0 Vega CMC Decarbonization 0.3 - 0.4 3% Others (incl. Serra Azul, Las Truchas and Barra Mansa) 28% Strategic growth 1.4 - 1.5 $0.3bn 1.0 53% Liberia expansion 0.1 12% Mai
Slide 19: Disclaimer
Disclaimer Forward-Looking Statements This document contains forward-looking information and statements about ArcelorMittal and its subsidiaries. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations wit