ArcelorMittal profits 90.1% lower in 2023, to 852.17 million | Companies

Steel giant ArcelorMittal ended the 2023 fiscal year with an attributable net profit of $919 million (€852.17 million), representing a 90.12% decline compared to the result recorded in 2022, the multinational company reported on Thursday to the national securities regulator. Market Committee (CVMV).

ArcelorMittal's total sales for the full year 2022 were $68,275 million (€63,308.44 million), 14.5% lower than the previous year's income, while the total operating result (Ebitda) fell by 46.6%, to $7,558 million (€7,008.8 million). .

Between October and December, the company recorded net attributable losses of $2,966 million (2,750 million euros), compared to profits of $261 million (242 million euros) in the same period in 2022.

For its part, ArcelorMittal's sales in the last quarter of 2023 recorded a year-on-year decline of 13.84%, to $14.552 million (13.495 million euros).

The company explained that performance in 2023 was “severely” affected by the “tragic” accident that occurred at the Kostenko mine in the Karaganda region, located in central Kazakhstan, on October 28, 2023.

ArcelorMittal commissioned sustainable operations management consultancy provider dss+ to conduct an “independent and comprehensive” safety audit of all the company’s operations, to identify “gaps and strengthen safety procedures, processes and culture to help prevent serious incidents”.

In this context, the multinational explained that the “key recommendations” will be published next September.

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