Global steel giant ArcelorMittal, which also has presence in India, on Wednesday posted over 14 per cent fall in net income at USD 805 million for the first quarter ended March 31, 2025. | Representative image
New Delhi: Global steel giant ArcelorMittal, which also has presence in India, on Wednesday posted over 14 per cent fall in net income at USD 805 million for the first quarter ended March 31, 2025, dragged by lower sales amid global geopolitical challenges.
It had posted USD 938 million “net income attributable to equity holders of parent” for the year-ago quarter, the company said in a statement.
Luxembourg-based ArcelorMittal is the world’s largest integrated steel and mining company. It follows January-December fiscal year.
CEO Aditya Mittal said from a financial perspective, it was another quarter of consistent delivery and robust margins, particularly given the geopolitical challenges, with EBITDA of USD 116 per tonne.
“We continue to execute our strategic growth agenda which is expected to deliver an incremental USD 1.8 billion EBITDA by 2027,” he said.
Mittal further said that heightened uncertainty around the terms of global trade is hurting business confidence and risks causing further economic disruption if not quickly resolved. It is encouraging however that around the world, governments are committed to supporting their domestic manufacturing industries.
In the US, Section 232 tariffs are supporting higher prices and spreads, and in Europe the Steel and Metals Action Plan is a much needed and important signal that Europe will take action to support strategically important industries like steel from unfair competition, he said.
According to a company statement, its crude steel production during the March quarter increased marginally to 14.8 million tonne (MT) from 14.4 MT in the same period in 2024.
Sales in Q1 2025 were at USD 14.79 billion, as against USD 16.28 billion in the year-ago period, a fall of over 9 per cent.
Steel shipments in first quarter of 2025 were 13.6 MT, against 13.5 MT in Q1 2024.
In India, ArcelorMittal in joint venture with Nippon Steel of Japan owns and operates about 9 million tonne steel plant in Gujarat.
ArcelorMittal said the development of AMNS India continues to gather momentum. The phase 1 expansion of Hazira to 15 MT by the end of 2026 remains on track.
AMNS India Sales in Q 1 2025 decreased to USD 1.44 billion from USD 1.81 billion in Q1 2024, and USD 1.6 billion in Q4 2024, primarily due a 12 per cent decline in steel shipments (in part impacted by planned maintenance but also unfavourable market conditions which have been subsequently addressed by safeguard measures).
EBITDA during Q1 2025 declined to USD 101 million as compared to USD 312 million in Q1 2024, and USD 133 million in Q4 2024, driven primarily by lower steel shipments.
The steel player further said land acquisition has commenced in Rajayyapeta, Andhra Pradesh, where a 7.3 MTPA state-of the art integrated greenfield steel plant project is planned for execution by AMNS India.
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