Q4 2024 ArcelorMittal SA Earnings Call Transcript
Key Points
- ArcelorMittal SA (MT) achieved $2 billion of investable cash flow in 2024, demonstrating resilience despite challenging market conditions.
- The company has successfully completed several strategic projects, including the Vega cold mill complex in Brazil and a new hot strip mill in Mexico, contributing to incremental EBITDA.
- ArcelorMittal SA (MT) has reduced its share count by 37% over the last four years through buybacks, enhancing shareholder value.
- The company has made significant progress in decarbonization, reducing absolute carbon emissions to approximately half the level of 2018.
- ArcelorMittal SA (MT) has a strong balance sheet, allowing for continued growth and strategic investments in key markets like India, Brazil, and the US.
- The company faces challenges with project delays, such as the Mardyck electrical steel facility in Europe, due to equipment supply issues and lack of large-scale project experience.
- There is uncertainty regarding potential tariffs on Canadian and Mexican steel imports to the US, which could impact costs and revenues.
- ArcelorMittal SA (MT) is experiencing difficulties in the Indian market due to an influx of imports, affecting short-term performance.
- The company is cautious about its decarbonization investments in Europe and Canada, awaiting appropriate regulatory frameworks to ensure economic viability.
- ArcelorMittal SA (MT) is operating at only 30% capacity in Ukraine, resulting in cash losses since the invasion, with uncertain prospects for full recovery.
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 in 2024. Present on the call today, we have our CEO, Aditya Mittal; and our CFO, 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 we published this morning on our website. However, I do want to draw your attention to the disclaimers on slide 23 of that presentation. Following some opening remarks from Aditya and Genuino, we will move directly to the Q&A session. (Operator Instructions).
And with that, I will hand over the call to Aditya.
Thanks, Daniel. Welcome, everyone, and thank you for joining today's call. Before I ask Genuino to comment
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