4/9/2023 0 Comments Www amsn com![]() ![]() ![]() As a result, the business is already exceeding the level of Ebitda required to cover the cash needs of the business (maintenance capex and cash interest) of approximately $0.3 billion annually,” ArcelorMittal said in a statement. “The company achieved $0.4 billion Ebitda (with an FY’21 run rate of $1.6 billion) with greater focus on exports markets. During the first quarter, AMNS India achieved ‘solid production’, annualising at 7.3 million tonnes (MT). ![]() Nowhere is this more obvious at present than in India, where we have our AM/NS India JV with Nippon Steel.”ĪrcelorMittal said the Indian business continued to perform ‘very well’. While this is naturally a very welcome development following a highly challenging 2020, we are mindful that Covid continues to be a health challenge across the world especially in developing economies. ArcelorMittal recorded net income of $2.3 billion in the first quarter compared with a net loss of $1.1 billion in the same period last year.Ĭommenting on the results, Aditya Mittal, chief executive officer, ArcelorMittal, said, “The first quarter of this year has been our strongest in a decade. Overall, ArcelorMittal’s sales in the first quarter were at $16.2 billion against $14.2 billion for Q4’20 and $14.8 billion for Q1’20, mainly buoyed by surging prices of the material. The Indian operation, in which it has the majority 60% stake, contributed in a big way to help ArcelorMittal turn in its best-ever quarterly Ebitda in a decade at the group level during the January-March quarter of the current year at $3.2 billion compared with $1.7 billion in Q4’20. DoT mulls to bring in private sector to manage C-DOT ![]()
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