ArcelorMittal removes Russian materials from steel supply chain

  • ArcelorMittal (NYSE:MT) says it has eliminated Russian commodities from its supply chain following the invasion of Ukraine.
  • Europe's biggest steelmaker has been sourcing ~20percent; of the coal for its European mills from Russia and bought iron ore from sanctioned billionaire Alisher Usmanov's Metalloinvest.
  • "For the third quarter, we need to buy a bit more from non-Russia. But this is not a big issue," Geert Van Poelvoorde, the company's top European executive, told Bloomberg, anticipating that the war in Ukraine will reshape global flows of raw materials within a few months, with Russia re-routing exports of coal from Europe to China, which will in turn buy less of the fuel from Australia.
  • About half of the coal consumed by Europe's steel industry comes from Russia, but ArcelorMittal 's portfolio of iron ore and coal mines will help ease its pivot away from Russia, Van Poelvoorde said.

    Over the current book year the company from Luxembourg could achieve a revenue around 78.8 billion euros (consensus estimates). This is slightly more than 2021's revenue of 76.57 billion euros.

    Historical revenues and results ArcelorMittal plus estimates 2021

    beurskoers

    The analysts expect for 2022 a net profit of 9.61 billion euros. For this year the majority of the analysts, consulted by press agency Thomson Reuters, expects a profit per share of 9.44 euros. Based on this the price/earnings-ratio is 2.98.

    Per share the analysts expect a dividend of 55 cents per share. Thus the dividend yield equals 1.96 percent. The average dividend yield of the industrial companies is an attractive 1.65 percent.

    Latest estimates around 47 euros

    The most recent recommendations for the industrial metals company are from Jefferies & Co., Deutsche Bank and Goldman Sachs .

    ArcelorMittal 's market capitalization is based on the number of outstanding shares around 30.39 billion euros. 15

    At 17.36 the stock trades 4.36 percent lower at 28.12 euros.

    Historical stock prices ArcelorMittal past 12 years

    stock graphs arcelormittal

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