Our business

Financials

Our business

Industrial assets

Our business

Mining operations

Our business

Operations

Our business

Our Business

How and where we run our steel and mining business.

Our progress

Our progress

This year saw important progress across our business, where we continued to meet the needs of all our stakeholders.

Our business

Sustainability

Action 2020

Action 2020 is ArcelorMittal's commitment to structurally improving profitability and cash flow generation.

Governance

Good corporate governance is about compliance, continuous stakeholder dialogue and being a good corporate citizen.

Fact book

Details of our steel and mining operations, financials, production facilities and shareholder information.

Key financial and operational information

2018

In millions of US dollars, unless otherwise stated NAFTA BRAZIL EUROPE ACIS Mining Total
FINANCIAL INFORMATION (AUDITED)
Sales 20,332 8,711 40,488 7,961 4,211 76,033
Depreciation (522) (298) (1,195) (311) (418) (2,799)
Impairments net of purchase gains1 — (86) (724) — — (810)
Exceptional charges2 (60) 202 (259) — — (117)
Operating income 1,889 1,356 1,632 1,094 860 6,539
Operating margin (as a percentage of sales) 9.3% 15.6% 4.0% 13.7% 20.4% 8.6%
EBITDA 2,471 1,538 3,810 1,405 1,278 10,265
EBITDA margin (as a percentage of sales) 12.2% 17.7% 9.4% 17.6% 30.3% 13.5%
Capital expenditure 669 244 1,336 534 485 3,305
OPERATIONAL INFORMATION (UNAUDITED)            
Crude steel production (thousand metric tonnes) 22,559 12,264 44,693 13,022 — 92,538
Steel shipments (thousand metric tonnes) 22,047 11,464 41,020 11,741 — 83,854
Average steel selling price (US$/t) 852 719 787 598 — 775
Employees (FT equivalent) 26,550 19,555 88,768 41,544 30,579 208,583

1. Impairment charges of $1.0 billion primarily related to the remedy asset sales in connection with the ArcelorMittal Italia acquisition and the agreed remedy package required for the approval of the Votorantim acquisition, partially offset by a $0.2 billion bargain purchase gain relating to the acquisition of ArcelorMittal Italia.

2 Exceptional items for 12M 2018 were charges of $117 million primarily consisting of $113 million in charges related to a blast furnace dismantling in Florange (France), $60 million in charges related to the new collective labour agreement in the US (including a signing bonus), a $146 million provision taken in 1Q 2018 in respect of a litigation case that was paid in 3Q 2018 offset in part by PIS/Cofins tax credits related to prior periods recognized in Brazil of $202 million.

  • EBITDA defined as operating income plus depreciation, impairment expenses, restructuring and exceptional charges/ (income).
  • Sales amounts are prior to inter-segment eliminations (except for total) and includes non-steel sales.
  • Steel shipments are prior to inter-segment eliminations (except for total).
  • Margin analysis calculated on the unrounded values.
  • Total column includes holding and service companies and eliminations.

Number of employees at 2018
NAFTA 13% #5C7F92
Brazil 9% #8B819E
Europe 42% #AA9E6E
ACIS 20% #70A489
Mining 15% #BAC48C
Others 1% #696969
Total
208,583

Number of employees %
 1 NAFTA 26,550 13
 2 Brazil 19,555 9
 3 Europe 88,768 42
 4 ACIS 41,544 20
 5 Mining 30,579 15
 6 Others 1,587 1
Total 208,583 100

2017

In millions of US dollars, unless otherwise stated NAFTA BRAZIL EUROPE ACIS Mining Total
FINANCIAL INFORMATION (AUDITED)
Sales 17,997 7,755 36,208 7,621 4,033 68,679
Depreciation (518) (293) (1,201) (313) (416) (2,768)
Impairments1 — — — (206) — (206)
Exceptional income — — — - — -
Operating income 1,185 697 2,359 508 991 5,434
Operating margin (as a percentage of sales) 6.6 % 9.0 % 6.5 % 6.7 % 24.6 % 7.9 %
EBITDA 1,703 990 3,560 1,027 1,407 8,408
EBITDA margin (as a percentage of sales) 9.5 % 12.8 % 9.8 % 13.5 % 34.9 % 12.2 %
Capital expenditure 466 263 1,143 427 495 2,819
OPERATIONAL INFORMATION (UNAUDITED)            
Crude steel production (thousand metric tonnes) 23,480 11,210 43,768 14,678 — 93,136
Steel shipments (thousand metric tonnes) 21,834 10,840 40,941 13,094 — 85,242
Average steel selling price (US$/t) 742 667 702 515 — 682
Employees (FT equivalent) 26,324 18,058 78,643 42,451 30,088 197,108

1. Impairment charges for 12M 2017 were $206 million related to a downward revision of cash flow projections across all steel facilities in ArcelorMittal South Africa.

  • EBITDA defined as operating income plus depreciation, impairment expenses, restructuring and exceptional charges/ (income).
  • Sales amounts are prior to inter-segment eliminations (except for total) and includes non-steel sales.
  • Steel shipments are prior to inter-segment eliminations (except for total).
  • Margin analysis calculated on the unrounded values.
  • Total column includes holding and service companies and eliminations.

2016

In millions of US dollars, unless otherwise stated NAFTA BRAZIL EUROPE ACIS Mining Total
FINANCIAL INFORMATION (AUDITED)
Sales 15,806 6,223 29,272 5,885 3,114 56,791
Depreciation (549) (258) (1,184) (311) (396) (2,721)
Impairments1 — — (49) (156) — (205)
Exceptional income2 832 — — — — 832
Operating income/(loss) 2,002 614 1,270 211 366 4,161
Operating margin (as a percentage of sales) 12.7 % 9.9 % 4.3 % 3.6 % 11.8 % 7.3 %
EBITDA 1,719 872 2,503 678 762 6,255
EBITDA margin (as a percentage of sales) 10.9 % 14.0 % 8.6 % 11.5 % 24.5 % 11.0 %
Capital expenditure 445 237 951 397 392 2,444
OPERATIONAL INFORMATION (UNAUDITED)            
Crude steel production (thousand of metric tonnes) 22,208 11,133 42,635 14,792 — 90,767
Steel shipments (thousand of metric tonnes) 21,281 10,753 40,247 13,271 — 83,934
Average steel selling price (US$/t) 672 536 568 395 — 567
Employees (FT equivalent) 27,233 18,380 80,975 41,989 28,455 198,517

1. Impairment charges for 12M 2016 were $205 million of which $49 million related to the sale of ArcelorMittal Zaragoza in Spain an $156 million mainly related to the Vanderbijlpark plant in South Africa.

2. Exceptional income for 12M 2016 was $832 million relating to a one-time gain on employee benefits following the signing of the new US labour contract.

  • EBITDA defined as operating income plus depreciation, impairment expenses, restructuring and exceptional charges/ (income).
  • Sales amounts are prior to inter-segment eliminations (except for total) and includes non-steel sales.
  • Steel shipments are prior to inter-segment eliminations (except for total).
  • Margin analysis calculated on the unrounded values.
  • Total column includes holding and service companies and eliminations.

2015

In millions of US dollars, unless otherwise stated NAFTA BRAZIL EUROPE ACIS Mining Total
FINANCIAL INFORMATION (AUDITED)
Sales 17,293 8,503 31,893 6,128 3,387 63,578
Depreciation (616) (336) (1,192) (408) (614) (3,192)
Impairments1 (526) (176) (398) (294) (3,370) (4,764)
Exceptional income2 (454) (91) (632) (239) — (1,436)
Operating income/(loss) (705) 628 171 (624) (3,522) (4,161)
Operating margin (as a percentage of sales) (4.1)% 7.4 % 0.5 % (10.2)% (104)% (6.5)%
EBITDA 891 1,231 2,393 317 462 5,231
EBITDA margin (as a percentage of sales) 5.2 % 14.5 % 7.5 % 5.2 % 13.6 % 8.2 %
Capital expenditure 392 422 1,045 365 476 2,707
OPERATIONAL INFORMATION (UNAUDITED)            
Crude steel production (thousand of metric tonnes) 22,795 11,612 43,853 14,219 — 92,479
Steel shipments (thousand of metric tonnes) 21,306 11,540 40,676 12,485 — 84,586
Average steel selling price (US$/t) 732 647 609 432 — 623
Employees (FT equivalent) 28,861 19,816 83,825 45,291 30,047 209,404

1. Impairment charges for 12M 2015 were $4.8 billion relating to:

  • Mining segment ($3.4 billion): consisting of $0.9 billion with respect to goodwill and $2.5 billion primarily related to fixed assets mainly due to a downward revision of cash flow projections relating to the expected persistence of a lower raw material price outlook at:
    • ArcelorMittal Liberia ($1.4 billion);
    • Las Truchas in Mexico ($0.2 billion);
    • ArcelorMittal Serra Azul in Brazil ($0.2 billion); and
    • ArcelorMittal Princeton coal mining operations in the United States ($0.7 billion)
  • Steel segments ($1.4 billion): consisting of fixed asset impairment charges of $0.2 billion related to the intended sale of the Long Carbon facilities in the US (ArcelorMittal La Place, Steelton and Vinton within the NAFTA segment), $0.4 billion primarily in connection with the idling for an indefinite time of the ArcelorMittal Sestao plant in Spain (Europe segment), and $0.8 billion related to:
    • NAFTA: Deployment of asset optimization programs at Indiana Harbor East and West in the United States ($0.3 billion);
    • Brazil: ArcelorMittal Point Lisas in Trinidad and Tobago ($0.2 billion) currently idled; and
    • ACIS: Saldanha plant in South Africa as a result of its revised competitive outlook ($0.3 billion)

2. Exceptional charges for 12M 2015 were $1.4 billion primarily including $1.3 billion inventory related charges following the rapid decline of international steel prices and litigation and other costs in South Africa ($0.1 billion).

  • EBITDA defined as operating income plus depreciation, impairment expenses, restructuring and exceptional charges/ (income).
  • Sales amounts are prior to inter-segment eliminations (except for total) and includes non-steel sales.
  • Steel shipments are prior to inter-segment eliminations (except for total).
  • Margin analysis calculated on the unrounded values.
  • Total column includes holding and service companies and eliminations.

2014

In millions of US dollars, unless otherwise stated NAFTA BRAZIL EUROPE ACIS Mining Total
FINANCIAL INFORMATION (AUDITED)
Sales 21,162 10,037 39,552 8,268 4,970 79,282
Depreciation and impairment (820) (457) (1,567) (525) (766) (4,203)
Operating income 386 1,388 737 95 565 3,034
Operating margin (as a percentage of sales) 1.8 % 13.8 % 1.9 % 1.1 % 11.4 % 3.8 %
EBITDA 1,206 1,845 2,304 620 1,331 7,237
EBITDA margin (as a percentage of sales) 5.7 % 18.4 % 5.8 % 7.5 % 26.8 % 9.1 %
Capital expenditure 505 497 1,052 573 993 3,665
OPERATIONAL INFORMATION (UNAUDITED)            
Crude steel production (thousand of metric tonnes) 25,036 10,524 43,419 14,148 — 93,127
Steel shipments (thousand of metric tonnes) 23,074 10,376 39,639 12,833 — 85,125
Average steel selling price (US$/t) 843 867 773 576 — 775
Employees (FT equivalent) 31,410 20,860 86,054 47,445 34,876 222,327
  • EBITDA defined as operating income plus depreciation, impairment expenses, restructuring and exceptional charges/ (income).
  • Sales amounts are prior to inter-segment eliminations (except for total) and includes non-steel sales.
  • Steel shipments are prior to inter-segment eliminations (except for total).
  • Margin analysis calculated on the unrounded values.
  • Total column includes holding and service companies and eliminations.
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