ArcelorMittal announced the results for the three-month and six-month periods ended June 30, 2020.
Protecting the health and wellbeing of employees remains the Company’s overarching priority; LTIF rate of 0.77× in 2Q 2020 and 0.91× in 1H 2020.
Operating performance in 2Q 2020 reflects the negative impact of the COVID-19 pandemic primarily on the steel business, with reduced demand leading to a 23.7% sequential reduction in steel shipments (1H 2020 shipments 23% lower YoY).
Operating loss of USD 0.3bn in 2Q 2020 includes USD 0.2bn exceptional items (1H 2020 operating loss of USD 0.6bn includes USD 0.8bn impairment and exceptional items).
EBITDA of USD 0.7bn in 2Q 2020 (1H 2020 EBITDA of USD 1.7bn)
Net loss of USD 0.6bn in 2Q 2020 (1H 2020 net loss of USD 1.7bn, with an adjusted net loss of USD 0.9bn excluding impairment and exceptional items)
Free cash outflow was limited to USD 0.4bn in 1H 2020 and included a working capital investment of USD 0.5bn.
Gross debt of USD 13.5bn and net debt of USD 7.8bn as of June 2020.
Liquidity at the end of 2Q 2020 stood at USD 11.2bn.
