ArcelorMittal wins Belgian government support for €1.1B decarbonization project

  • ArcelorMittal (MT) says it signed a letter of intent with the governments of Belgium and Flanders to support its €1.1B project to build a direct reduced iron plant at its site in Gent and two new electric furnaces.
  • The new DRI plant will use natural gas and potentially hydrogen instead of coal to reduce iron ore, resulting in a large reduction in carbon emissions compared with blast furnace ironmaking.
  • The plans are part of ArcelorMittal 's Belgian affiliate to cut carbon emissions by 3.9M metric tons/year by 2030.
  • The company says the support of the Belgian and Flanders governments is crucial given the significant cost associated with the transition to carbon-neutral steelmaking, but approval from the European Commission for funding support also will be needed.

    Over the current book year the company from Luxembourg could achieve a revenue around 75.65 billion euros (consensus estimates). This is quite more than 2021's revenue of 53.27 billion euros.

    Historical revenues and results ArcelorMittal plus estimates 2021

    fundamenteel onderzoek

    The analysts expect for 2021 a net profit of 13.35 billion euros. The majority of the analysts expects for this year a profit per share of 12.78 euros. The price/earnings-ratio therefore equals 1.97.

    Per share the analysts expect a dividend of 40 cents per share. ArcelorMittal 's dividend yield thus equals 1.59 percent. The average dividend yield of the industrial companies equals an attractive 1.65 percent.

    Most recent target prices around 46 euros

    The most recent recommendations for the industrial metals company are from Deutsche Bank , Barclays and Nord Landesbank.

    ArcelorMittal 's market capitalization is based on the number of outstanding shares around 25.43 billion euros. 109

    On Friday the stock closed at 25.13 euros.

    Historical stock prices ArcelorMittal

    stock prices arcelormittal

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