&w=3840&q=100)
Arcelormittal Q2 results: Net income surges over 3-fold to $1.79 billion
The company, which also has a presence in India through JV AMNS India, had posted a net income of $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 $1,793 million in the second quarter of 2025 compared to $805 million in the first quarter of 2025, primarily due to the impact of $ 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 $2,598 million compared to $1,442 million in the six months of 2024, mainly driven by $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 $ 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 $199 million, compared to $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 $1.5 billion against $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 $15,926 million in Q2 2025 from $16,249 million a year ago, while on a quarter-on-quarter basis, it was a rise compared to $14,798 million.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
a minute ago
- Economic Times
Vikram Solar says co evaluating plans to set up manufacturing unit in the US
Representative image. Solar photovoltaic modules maker Vikram Solar is evaluating plans to set up operations in the US, company chairman and managing director Gyanesh Chaudhary told ET. "We are evaluating our plans to set up operations in the US and looking at how things will pan out in the light of the tariffs," Chaudhary said on to sources, Vikram Solar was planning to invest around $1.5 billion in setting up a 3 GW (gigawatt) solar photovoltaic modules plant in the US as part of the company's expansion plan of 15.5 GW module and 5 GW cell capacity by fiscal year however declined to comment on the investments being planned in the possible US facility. The company, which has filed a draft prospectus for its initial public offer, has a 4.5 GW module manufacturing capacity across its two plants in Bengal and Tamil Nadu. It has a sales office in the US which is also its largest export market, contributing around 61.10% of the company's total revenue from operations as of Wednesday the company fixed a price band of Rs 315 to Rs 332 per share for its upcoming Rs 2,079 crore initial public offering (IPO). The Kolkata-based firm's maiden public issue would open for subscription on August 19 and conclude on August 21, it IPO will include fresh issues of equities worth up to Rs 1,500 crore and an offer for sale (OFS) of over 1.74 crore shares valued at around Rs 579.37 crore at the upper end of the price band, by its promoters. Of the fresh issuance, the company plans to use the proceeds for funding capital expenditure for investment in its wholly owned subsidiary, VSL Green Power Private Ltd, for both Phase I and Phase II of the project. Vikram Solar commenced its manufacturing operations in 2009 with an installed solar PV module manufacturing capacity of 12 MW, grown to 4.50 GW installed capacity as of the date. The company said its key domestic customers include prominent government entities, such as NTPC, Neyveli Lignite Corporation, and Gujarat Industries Power Company and private independent power producers (IPPs), like ACME Cleantech Solutions Adani Green Energy, Azure Power India, JSW Energy and Rays Power Infra, among others. The company is also planning to enter the battery energy storage systems (BESS) segment as a strategy to diversify its portfolio. It plans to start with a 1 GW BESS facility which will be scaled up to 10 GW or more.
Time of India
a minute ago
- Time of India
Mahindra plans to export EVs to UK with trade agreement in place
Mumbai-based Mahindra & Mahindra is preparing to export its electric vehicles (EVs) to the United Kingdom, leveraging opportunities arising from the recently finalised India-UK free trade agreement (FTA), Group CEO and Managing Director Anish Shah told PTI Videos. The company, a leading player in India's domestic EV segment, expects electric vehicles to account for 30 per cent of its overall sales by 2030. In 2022, Mahindra inaugurated its Mahindra Advanced Design Europe (M.A.D.E) facility in Banbury, Oxfordshire, which serves as the conceptual hub for the company's electric product portfolio. Shah highlighted India's potential to become a global hub for automobile manufacturing. "We are looking forward to exporting our electric vehicles to the UK and to take a bigger share of the UK market and competing in the UK on the back of this FTA," he said. Shah highlighted the government's approach to the India-UK trade agreement, noting that it opens up the domestic market to UK goods while also boosting Indian exports across multiple industries. He said the FTA is expected to foster innovation and strengthen manufacturing in the country. Using the automobile sector as an example, he pointed out that India has significant potential to become a global auto manufacturing hub. While the industry is currently smaller, improvements in ease of doing business, logistics costs, and import duties are enabling the production of higher-quality vehicles domestically. He added that India's manufacturing hub potential extends beyond domestic firms to global automakers. "We want the best global automakers to be in India and produce in India. It will spur businesses. It will be better... more competition makes us better over time. So it's very important for us to be able to have a very thriving auto industry in India, consumers having the choice of the best cars in the world," Shah said. Addressing concerns over the entry of global EV players such as Tesla and Vinfast into the Indian market, Shah said Mahindra sees competition as a growth opportunity. "We are actually excited about it. And it's something I say in all seriousness, because if you look back at the last 25 years, we had this question come up numerous times," he said, referring to past entries of Ford, Hyundai, and Kia. "And we've not just survived. We've gotten better as we've had competition that came in, and today we are actually standing at a much stronger position," Shah added. The company's strong research and development capabilities in India allow it to manufacture high-quality vehicles at competitive costs, he noted. "We think it's good for India to have a thriving auto ecosystem, and that's something that we feel is better for consumers and good for us," he said. Shah highlighted Mahindra's growing market share in the SUV segment, which has risen from 11 per cent to 27 per cent over time, with a 5.7 percentage-point increase in the last quarter alone. "Now we have not set specific numbers for 2030 as to what a market share should be. Our focus is on developing the best products. Execute very well, and that will enable us to keep a leadership position," he said. Mahindra plans to expand its product range across domestic and international markets. "We will focus on certain markets, first get to a strong market share, then focus on the next set of markets. So we see a lot of opportunities for growth, and it starts with creating the best products," Shah said. On the company's SUV strategy, he added: "We chose to be in SUVs because we had strength in that area. We could build authentic SUVs very well, and we've taken that strength and augmented it by a number of things around more refined cars, much better technology in cars, and that's helped us get where we are. As we go forward. We feel that we may look at other actions, we may look at slightly smaller SUVs to start with." Regarding potential global acquisitions, Shah said Mahindra will prioritise strategic moves that strengthen its core business. "SML (stake acquisition) is a classic example. It's one that takes our truck business to a different level and puts it on a much better path for growth and as we see opportunities to do that and to be able to deliver the returns for our investors, we will do it," he said. On rare earth magnet shortages affecting EV production, Shah said alternatives are being explored. "There are potential alternatives as well. So we are working through some of those," he noted. He added that India has strengthened its resilience through past disruptions such as the semiconductor shortage and expects to manage challenges arising from geopolitical factors. "As I said, it's one of the geopolitical disruptions. We had semiconductors, and going through that has made us stronger, and that has allowed us to look at what are the potential alternatives here. And I believe the government is also doing a lot to look at alternatives for vehicles and permanent magnets as well. So we feel that we should be able to handle that and then move forward on this," Shah said.
India Today
28 minutes ago
- India Today
US Green Card processing delay at all-time high, may force out talent: Report
Immigrant workers applying for employer-sponsored Green Cards in the US are now facing the longest processing times ever recorded, according to a report by the Cato Washington DC-based libertarian think tank released findings from its study on the current wait times immigrant workers encounter when applying for Green found that the average length had risen to 1,256 days, or 3.4 years, at the end of the second quarter of 2025 – compared to 705 days (1.9 years) in 2016, Newsweek reported, citing the think tank's US Citizenship and Immigration Services (USCIS) is grappling with an unprecedented backlog of immigration cases, reaching a record 11.3 million pending applications, according to another Newsweek report published in think tank warned that the increasing challenges faced by applicants in obtaining Green Cards could weaken the US' ability to attract skilled workers from around the FEE ALSO FAILING TO SPEED UP GREEN CARD DELAYS: REPORTAccording to the Cato Institute's report, even applicants who pay a "premium processing fee" wait almost two years on average before making it out of the "government's regulatory morass" – a confusing and complicated set of rules and paperwork which makes it hard for people and businesses to get things done quickly and wait times come on top of the time applicants already spend trying to get a cap slot, which depends on the limits the government sets for each country and category. Applicants also have to go through several months of paperwork before they can even file their Cato Institute outlined six key stages involved in the process of obtaining an employer-sponsored Green Cards in the United States, each of which has seen increased processing times since six stages are as follows: gathering eligibility documents, determining a fair wage, recruiting US workers, obtaining labour certification, filing an employer petition, and finally submitting the green card application, which includes background and medical checks. Each step adds to the overall to the Cato report, the prolonged delays effectively force many workers to rely on H-1B or other temporary visas before they can even apply for a Green Card."America will lose the global talent competition when other countries grant Green Cards in a matter of a few weeks or months, not years," the Cato Institute said in its report cited in Newsweek."The US government needs to significantly simplify its legal immigration process and remove excessive, outdated requirements," the think tank US offers a Green Card, which lets people live there permanently. There are a few ways to get one, like having a family in the US, a job offer, or winning the lottery.- Ends
