Q3 2025 ArcelorMittal SA Earnings Call Transcript
Key Points
- ArcelorMittal SA (MT) achieved a third-quarter EBITDA per tonne of $111, which is 25% above its historical average margin, indicating structural improvements.
- The company is on track to capture $0.7 billion in structural EBITDA improvements this year, with an expected medium-term impact of $2.1 billion.
- ArcelorMittal SA (MT) continues to generate healthy free cash flows, with nine months' free cash flow approximately $0.5 billion positive, excluding working capital.
- The company is actively enabling the energy transition by supplying steel for new energy and mobility systems and investing in high-quality, high-margin electrical steels.
- ArcelorMittal SA (MT) has a diversified asset base across geographies and end markets, supporting structurally higher margins and strategic growth projects.
- The company faces challenges with exceptional costs, including US tariff costs and operational stoppages in Mexico, which are expected to impact future financials.
- There is uncertainty regarding the implementation of new trade safeguards in Europe, which could affect market dynamics and production flexibility.
- ArcelorMittal SA (MT) is dealing with import pressure in Brazil and India, leading to low prices and potential impacts on investment decisions.
- The situation in Ukraine remains challenging due to high energy costs and geopolitical tensions, affecting production and financial performance.
- The company is short on CO2 emissions allowances in Europe, leading to additional costs, and there is uncertainty about future free allocation levels.
Hi, good afternoon, everyone. This is Daniel Fairclough from the ArcelorMittal Investor Relations team. Thank you for joining this call to discuss ArcelorMittal's performance and progress during the third-quarter of 2025. Leading today's call will be our CFO, Mr. Genuino Christino.
Before we begin, I would like to mention a few housekeeping items. As usual, we will not be going through the results presentation, which was published this morning on our website. However, I do want to draw your attention to the disclaimers on slide number 20 of that presentation.
As usual, Genuino will make some opening remarks before moving directly to the Q&A session. (Operator Instructions)
Over to you, Genuino.
Thanks, Daniel, and welcome everyone and thanks for joining today's call. As usual, I will keep my remarks brief, beginning with safety, a core value for our
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