Overview

2016 was a year of important progress for ArcelorMittal.

Action 2020

Action 2020 is ArcelorMittal's commitment to structurally improving profitability and cash flow generation.

Governance

Good corporate governance is about compliance, continuous stakeholder dialogue and being a good corporate citizen.

Fact book

Details of our steel and mining operations, financials, production facilities and shareholder information.

Key financial and operational information

2016

US$ millions unless otherwise stated NAFTA BRAZIL EUROPE ACIS Mining Total
FINANCIAL INFORMATION (AUDITED)
Sales 15,806 6,223 29,272 5,885 3,114 56,791
Depreciation (549) (258) (1,184) (311) (396) (2,721)
Impairments1 - - (49) (156) - (205)
Exceptional income2 832 - - - - 832
Operating income 2,002 614 1,270 211 366 4,161
Operating margin (as a percentage of sales) 12.7% 9.9% 4.3% 3.6% 11.8% 7.3%
EBITDA 1,719 872 2,503 678 762 6,255
EBITDA margin (as a percentage of sales) 10.9% 14.0% 8.6% 11.5% 24.5% 11.0%
Capital expenditure 445 237 951 397 392 2,444
OPERATIONAL INFORMATION (UNAUDITED)
Crude steel production (thousand metric tonnes) 22,208 11,133 42,635 14,792 n/a 90,767
Steel shipments (thousand metric tonnes) 21,281 10,753 40,247 13,271 n/a 83,934
Average steel selling price (US$/t) 672 536 568 395 n/a 567
Employees 27,233 18,380 80,975 41,989 28,455 198,517

Number of employees at 2016


NAFTA 14% #5C7F92
Brazil 9% #8B819E
Europe 41% #AA9E6E
ACIS 21% #70A489
Mining 14% #BAC48C
Others 1% #696969
Total
198,517

Number of employees %
NAFTA 27,233 14
Brazil 18,380 9
Europe 80,975 41
ACIS 41,989 21
Mining 28,455 14
Others 1,485 1
Total 198,517 100

Full-time equivalent (excludes others)

1 Impairment charges for 12M 2016 were $205 million of which $49 million related to the sale of ArcelorMittal Zaragoza in Spain and $156 million mainly related to the Vanderbijlpark plant in South Africa.

2 Exceptional income for 12M 2016 was $832 million relating to a one-time gain on employee benefits following the signing of the new US labour contract.

2015

US$ millions unless otherwise stated NAFTA BRAZIL EUROPE ACIS Mining Total
FINANCIAL INFORMATION (AUDITED)
Sales 17,293 8,503 31,893 6,128 3,387 63,578
Depreciation (616) (336) (1,192) (408) (614) (3,192)
Impairments1 (526) (176) (398) (294) (3,370) (4,764)
Exceptional charges2 (454) (91) (632) (239) - (1,436)
Operating income/(loss) (705) 628 171 (624) (3,522) (4,161)
Operating margin (as a percentage of sales) (4.1%) 7.4% 0.5% (10.2%) (104.0%) (6.5%)
EBITDA 891 1,231 2,393 317 462 5,231
EBITDA margin (as a percentage of sales) 5.2% 14.5% 7.5% 5.2% 13.6% 8.2%
Capital expenditure 392 422 1,045 365 476 2,707
OPERATIONAL INFORMATION (UNAUDITED)
Crude steel production (thousand metric tonnes) 22,795 11,612 43,853 14,219 n/a 92,479
Steel shipments (thousand metric tonnes) 21,306 11,540 40,676 12,485 n/a 84,586
Average steel selling price (US$/t) 732 647 609 432 n/a 623
Employees 28,861 19,816 83,825 45,291 30,047 209,404

1 Impairment charges for 12M 2015 were $4.8 billion relating to:

  • Mining segment ($3.4 billion): consisting of $0.9 billion with respect to goodwill and $2.5 billion primarily related to fixed assets mainly due to a downward revision of cash flow projections relating to the expected persistence of a lower raw material price outlook at:
    • ArcelorMittal Liberia ($1.4 billion);
    • Las Truchas in Mexico ($0.2 billion);
    • ArcelorMittal Serra Azul in Brazil ($0.2 billion); and
    • ArcelorMittal Princeton coal mining operations in the United States ($0.7 billion)
  • Steel segments ($1.4 billion): consisting of fixed asset impairment charges of $0.2 billion related to the intended sale of the Long Carbon facilities in the US (ArcelorMittal La Place, Steelton and Vinton within the NAFTA segment), $0.4 billion primarily in connection with the idling for an indefinite time of the ArcelorMittal Sestao plant in Spain (Europe segment), and $0.8 billion related to:
    • NAFTA: Deployment of asset optimization programs at Indiana Harbor East and West in the United States ($0.3 billion);
    • Brazil: ArcelorMittal Point Lisas in Trinidad and Tobago ($0.2 billion) currently idled; and
    • ACIS: Saldanha plant in South Africa as a result of its revised competitive outlook ($0.3 billion)

2 Exceptional charges for 12M 2015 were $1.4 billion primarily including $1.3 billion inventory related charges following the rapid decline of international steel prices and litigation and other costs in South Africa ($0.1 billion).

2014

US$ millions unless otherwise stated NAFTA BRAZIL EUROPE ACIS Mining Total
FINANCIAL INFORMATION (AUDITED)
Sales 21,162 10,037 39,552 8,268 4,970 79,282
Depreciation and impairment (820) (457) (1,567) (525) (766) (4,203)
Operating income 386 1,388 737 95 565 3,034
Operating margin (as a percentage of sales) 1.8% 13.8% 1.9% 1.1% 11.4% 3.8%
EBITDA 1,206 1,845 2,304 620 1,331 7,237
EBITDA margin (as a percentage of sales) 5.7% 18.4% 5.8% 7.5% 26.8% 9.1%
Capital expenditure 505 497 1,052 573 993 3,665
OPERATIONAL INFORMATION (UNAUDITED)
Crude steel production (thousand metric tonnes) 25,036 10,524 43,419 14,148 n/a 93,127
Steel shipments (thousand metric tonnes) 23,074 10,376 39,639 12,833 n/a 85,125
Average steel selling price (US$/t) 843 867 773 576 n/a 775
Employees 31,410 20,860 86,054 47,445 34,876 222,327

2013

US$ millions unless otherwise stated NAFTA BRAZIL EUROPE ACIS Mining Total
FINANCIAL INFORMATION (AUDITED)
Sales 19,645 10,148 40,507 8,419 5,766 79,440
Depreciation and impairment (767) (691) (2,089) (738) (804) (5,139)
Restructuring charges (517) (33) (552)
Operating income/(loss) 630 1,204 (985) (457) 1,176 1,197
Operating margin (as a percentage of sales) 3.2% 11.9% (2.4%) (5.4%) 20.4% 1.5%
EBITDA 1,397 1,895 1,621 314 1,980 6,888
EBITDA margin (as a percentage of sales) 7.1% 18.7% 4.0% 3.7% 34.3% 8.7%
Capital expenditure 422 276 990 398 1,342 3,452
OPERATIONAL INFORMATION (UNAUDITED)
Crude steel production (thousand metric tonnes) 24,914 9,987 41,923 14,362 n/a 91,186
Steel shipments (thousand metric tonnes) 22,500 9,797 38,269 12,422 n/a 82,610
Average steel selling price (US$/t) 829 940 804 613 n/a 799
Employees 31,100 20,521 91,571 50,774 36,775 232,353
  • EBITDA defined as operating income plus depreciation, impairment expenses, restructuring and exceptional charges/(income).
  • Sales amounts are prior to inter-segment eliminations (except for total) and includes non-steel sales.
  • Steel shipments are prior to inter-segment eliminations (except for total).
  • Margin analysis calculated on the unrounded values.
  • Total column includes holding and service companies and eliminations.