Luxembourg City, April 30: ArcelorMittal announced its financial results for the first quarter of 2026, reporting resilient performance despite a challenging global macroeconomic environment, including geopolitical uncertainty in the Middle East.
The company reported EBITDA of $131 per tonne, supported by the strength of its globally diversified asset portfolio and continued execution of its strategic priorities.
Commenting on the results, Chief Executive Officer Aditya Mittal said the quarter demonstrated operational resilience while highlighting continued progress in safety performance, with the Group recording its lowest-ever quarterly Lost Time Injury Frequency Rate (LTIFR).
He noted that business fundamentals have improved over the past quarter, driven by structural policy changes in Europe, including CBAM and the introduction of a new tariff rate quota (TRQ), expected to reduce imports and strengthen domestic production utilisation from July 1 onward.
The company expects to benefit from increased capacity utilisation in Europe through restarting idled assets, supporting improved profitability and return on capital employed (ROCE) in the region.
ArcelorMittal also highlighted progress on key strategic growth initiatives, which are expected to contribute an incremental $1.8 billion in EBITDA over time. These include:
- Expansion of the AM/NS India facility in Hazira
- Ramp-up of mining operations in Liberia
- Full capacity ramp-up of the new EAF at Calvert
- Energy transition-related investments across multiple geographies
- Final investment decision on a new EAF in Dunkirk supported by European and French policy frameworks
Aditya Mittal added that the company remains confident about its outlook for the remainder of the year, supported by improving pricing dynamics, stronger demand conditions, and the execution of its strategic investment pipeline. He further stated that these developments are expected to enhance free cash flow generation and enable consistent capital returns to shareholders.
The company reiterated that its diversified footprint and policy-aligned investments position it strongly to capture long-term opportunities across global steel markets.
