ArcelorMittal turns from lossmaker to very profitable

Vanderbijlpark – ArcelorMittal South Africa is in the process of finalising its results for the six months ended 30 June 2021. The Company expects to report a strong set of results and reported that:

• headline earnings for the period to improve by at least R4 500 million to at least R1 890 million resulting in an improvement in headline earnings per share by at least R4,15 from a headline loss per share of R2,39 as at 30 June 2020 to a headline profit per share of at least R1,76 for the period ended 30 June 2021.
• earnings for the period to improve by at least R4 000 million to earnings of at least R1690 million resulting in an improvement in earnings per share by at least R3,68 from a loss per share of R2,11 as at 30 June 2020 to a profit per share of at least R1,57 for the period ended 30 June 2021.

In accordance with section 3.4(b) of the JSE Listing requirements, and further to the trading statement released on 30 June 2021, shareholders are advised of the following likely earnings ranges:

• The headline earnings per share is expected to improve from R2,39 headline loss per share to a headline profit per share within a range of R2,01 and R2.45 per share (184% and 203% change), when compared to the prior year.
• The earnings per share is expected to improve from R2,11 loss per share to a profit within a range of R1,82 and R2,22 per share (186% and 205% change) when compared to the prior year.

The financial information on which this trading statement is based has not been reviewed and reported on by the Company’s external auditors.

ArcelorMittal South Africa’s results for the six months ended 30 June 2021 will be released on 29 July 2021, with a virtual presentation on the same day. The presentation will be available for all stakeholders on the Company’s website at www.arcelormittalsa.com.