LUXEMBOURG (dpa-AFX) - Steel and mining major ArcelorMittal S.A. (MT) Thursday reported narrower net loss in its fourth quarter, with slightly higher sales.
Further, the Board proposes to increase the annual base dividend to shareholders to $0.55/share in fiscal 2025, from last year's $0.50 per share. It will be paid in two equal installments in June 2025 and December 2025, subject to the shareholders' approval at the 2025 AGM.
ArcelorMittal will continue to return a minimum of 50% of post-dividend free cash flow to shareholders via share buybacks.
Looking ahead, the company expects higher apparent demand in fiscal 2025 compared to fiscal 2024. With low inventory levels, especially in Europe, the Company is optimistic that restocking activity will supplement real demand improvement.
For the fourth quarter, net loss attributable to equity holders of the parent was $390 million, compared to prior year's loss of $2.97 billion. Basic loss per share was $0.51, compared to loss of $3.57 last year.
Adjusted net income attributable to equity holders of the parent was $404 million or $0.52 per share, compared to last year's $982 million or $1.18 per share.
Operating income was $529 million, compared to prior year's operating loss of $1.98 billion. EBITDA grew to $1.65 billion from $1.45 billion a year ago.
Sales for the quarter grew to $14.714 billion from last year's $14.552 billion.
Crude steel production increased to 14 Mt from 13.7 Mt a year ago. Steel shipments also increased from last year.
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