ArcelorMittal announces change in segmental reporting
June 28 2021 - 5:30AM
28 June
2021,
11:30
CET
As previously announced in ArcelorMittal’s (‘the
Company’) first quarter 2021 financial results, following the
Company’s steps to streamline and optimise its business, primary
responsibility for the management of its captive mining operations
(those mining operations which primarily serve the Company’s steel
operations) will be moved from its Mining segment to the relevant
steel segment. The Mining segment will retain responsibility for
the operation of the seaborne-oriented mining operations at
ArcelorMittal Mines Canada (AMMC) and Liberia and will continue to
provide technical support to all mining operations within the
Company.
As a result, effective from the second quarter 2021,
ArcelorMittal will amend its presentation of reportable segments to
reflect this organisational change, as required by IFRS accounting
regulations. Only the seaborne-oriented operations of AMMC and
Liberia will be reported within the Mining segment, which will be
renamed ‘Seaborne Iron Ore’. The results of the Company’s other
mining operations will be accounted for within the respective steel
segments that the mines supply.
The following periods – half-year and full-year 2018, half-year
and full-year 2019, quarterly, half-year and full-year 2020, and
first quarter 2021 - have been recast in the Company’s published
analyst model which can be viewed here -
https://corporate.arcelormittal.com/investors/results
ENDS
About ArcelorMittal
ArcelorMittal is the world's leading steel and
mining company, with a presence in 60 countries and primary
steelmaking facilities in 17 countries. In 2020, ArcelorMittal had
revenues of $53.3 billion and crude steel production of 71.5
million metric tonnes, while iron ore production reached 58.0
million metric tonnes.
Our goal is to help build a better world with
smarter steels. Steels made using innovative processes which use
less energy, emit significantly less carbon and reduce costs.
Steels that are cleaner, stronger and reusable. Steels for electric
vehicles and renewable energy infrastructure that will support
societies as they transform through this century. With steel at our
core, our inventive people and an entrepreneurial culture at heart,
we will support the world in making that change. This is what we
believe it takes to be the steel company of the future.
ArcelorMittal is listed on the stock exchanges
of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and
on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and
Valencia (MTS).
For more information about ArcelorMittal please
visit: http://corporate.arcelormittal.com/
|
|
Contact
information ArcelorMittal Investor Relations |
|
|
|
General |
+44 20 7543
1128 |
Retail |
+44 20 3214
2893 |
SRI |
+44 20 3214
2801 |
Bonds/CreditE-mail |
+33 171 921
026investor.relations@arcelormittal.com |
|
|
|
|
Contact
information ArcelorMittal Corporate Communications |
|
Paul
WeighTel:E-mail: |
+44 20
3214 2419press@arcelormittal.com |
|
|
ArcelorMittal (EU:MT)
Historical Stock Chart
From Aug 2024 to Sep 2024
ArcelorMittal (EU:MT)
Historical Stock Chart
From Sep 2023 to Sep 2024