ArcelorMittal Q2 Net Income Jumps 3x to $1.8B

New Delhi, Jul 31 (PTI) Steel and mining major ArcelorMittal on Thursday posted an over threefold jump in net income to USD 1,793 million in the June quarter, primarily due to the impact of exceptional items.

The company, which also has a presence in India through JV AMNS India, had posted a net income of USD 504 million in the corresponding period of the previous fiscal.

The net income is attributable to equity holders of the parent company.

Luxembourg-based ArcelorMittal follows January to December as its financial year.

Net income increased to USD 1,793 million in the second quarter of 2025 compared to USD 805 million in the first quarter of 2025, primarily due to the impact of USD 0.8 billion exceptional items (net of impairments and tax effects), ArcelorMittal said in a statement.

Net income in H1 or January-June 2025 also rose to USD 2,598 million compared to USD 1,442 million in the six months of 2024, mainly driven by USD 0.8 billion in exceptional items (net of impairments and tax effects) and higher foreign exchange gains.

ArcelorMittal CEO Aditya Mittal said: "Halfway through the year, it is encouraging that we are seeing an improvement in our safety results compared with 2024. Turning to the financial performance, as anticipated, we saw an improved quarter, with EBITDA per tonne reaching a healthy USD 135."

ArcelorMittal's strong balance sheet and diverse business model allow it to invest in growth while delivering consistent shareholder returns through an ongoing programme of share buybacks, he said, adding that the company's unique global presence enables it to benefit from high-growth markets such as India and Brazil, as well as take advantage of new opportunities such as renewable energy.

The company further said that its income from associates, joint ventures and other investments was higher in 2Q 2025 at USD 199 million, compared to USD 99 million in 1Q 2025, primarily due to a higher income from AMNS India.

AMNS India's EBITDA (earnings before interest, taxes, depreciation and amortisation) during the June quarter of 2025 improved significantly, driven primarily by higher steel selling prices.

In 2Q 2025, the sales from the JV with Nippon Steel increased by 2.8 per cent to USD 1.5 billion against USD 1.4 billion in the first quarter of 2025, primarily due to an increase in average steel prices - supported by safeguard measures introduced in April 2025 - offset by a 5.7 per cent decline in steel shipments.

On the outlook, the company said that due to ongoing tariff headwinds, economic activity remains subdued, and no restocking has been observed as customers maintain a "wait and see" approach. This has created some headwinds to demand that were not anticipated at the beginning of the year.

For India, it said that the industry here continues to be the fastest-growing major steel market, with demand well supported, particularly by infrastructure investment.

In the second quarter, the company produced 14.4 million tonnes (MnT), down from 14.7 MnT in April-June 2024.

Shipments at 13.8 MnT were almost flat during the second quarter.

Sales reduced to USD 15,926 million in Q2 2025 from USD 16,249 million a year ago, while on a quarter-on-quarter basis, it was a rise compared to USD 14,798 million.