ArcelorMittal Announced Robust FY 2021 Financial Results

SEATTLE (Scrap Monster):  ArcelorMittal- the Luxembourg-based world’s leading integrated steel and mining company announced results for quarter and full-year ending 31^st December, 2021.

The company reported operating income of $4.6 billion in Q4 2021. This compares with $2.0 billion during the year-before quarter.  The operating income per tonne too was up from $116 to $289 year-on-year. The net income surged multi-fold from $1.2 billion to $4 billion over the year. The basic earnings per share were $3.93 during the quarter. This was up from $1.01 during the prior year quarter.

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For the full year 2021, the company posted robust financial performance. It reported operating income of $17 billion and EBITDA of $19.4 billion. ArcelorMittal ended the year with gross debt of $8.4 billion, compared to $12.3 billion at the end of 2020. The net debt too recorded decline from $6.4 billion to $4.0 billion. Also, the net income totalled $15.0 billion in FY 2021.

Aditya Mittal, Chief Executive Officer, ArcelorMittal commented that the company accelerated progress in many fronts during the previous year. As it starts 2022, the company is ready to build on the progress already achieved for long-term sustainability and success, he added.