ArcelorMittal Steel shipments fall 18% in 2020

ArcelorMittal, a leading integrated metals and mining company headquartered in Luxembourg, announced financial results for the fourth quarter and full year period ended December 31, 2020.

The company reported an adjusted net income of $ 0.2 billion in the fourth quarter of 2020, compared to a net loss of $ 0.2 billion in the third quarter. EBITDA for the 4th quarter was $ 1.7 billion, which is almost double the level of the previous year. Operating income for fiscal 20 was $ 2.1 billion, compared with an operating loss of $ 0.6 billion in fiscal 19. The company provided $ 1.5 billion in free cash flow. ArcelorMittal ended 2020 with $ 12.3 billion in gross debt and $ 6.4 billion in net debt. Steel shipments last year decreased by 18.2%.

The company changed its presence in North America, completing the sale of ArcelorMittal USA to Cleveland-Cliffs. The European presence was further strengthened by the Italian government's investment proposal in ArcelorMittal Italia. In keeping with its decarbonization goals, the company delivered its first certified green steel products to customers in December 2020.

Lakshmi N. Mittal, Executive Chairman of ArcelorMittal, noted that the company takes pride in the resilience and entrepreneurial spirit demonstrated by its employees, which in turn has helped it deliver stable operating performance in a time of diversity.