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ArcelorMittal Q1 operating income stood at $4.4bn

  • May 05, 2022, 02.15 PM
  • DealMoney News Service

ArcelorMittal, the world’s leading integrated steel and mining company, announced results for the three-month period ended March 31, 2022.

The company's operating income stood at $4.4bn (vs. $4.6bn4 in 4Q 2021) and EBITDA of $5.1bn in 1Q 2022.

The Company delivered $1.5bn of free cash flow (FCF) in Q1 2022 ($2.0bn net cash provided by operating activities less capex of $0.5bn and dividends paid to minorities).

Aditya Mittal, ArcelorMittal Chief Executive Officer, said,"Our first quarter performance was overshadowed by the war in Ukraine. Our focus has been on providing support to our 26,000
colleagues and their communities at a time of tragedy and hardship.Notwithstanding this backdrop, further aggravated by rising inflationary pressures across the world, ArcelorMittal produced a
strong first quarter performance. This is testimony to the resilience of our business model, characterized by diversity of
geography, product category and vertical integration."