ArcelorMittal has released its statutory financial statements for the year ended December 31 2025, which are now available in the company’s Corporate Library and have been filed with the Luxembourg Stock Exchange electronic database.
The 2025 report shows revenue of $61.4 billion, down 1.7% from $62.4 billion in 2024, and crude steel production of 55.6 million metric tonnes, a 3.8% decline from 57.9 million tonnes in 2024. Iron‑ore output rose to 48.8 million tonnes, up 15.3% from 42.4 million tonnes the previous year.
Revenue fell because average steel selling prices dropped 2.3% in 2025, while the company offset the decline with higher iron‑ore production and a shift toward higher‑margin mining operations. The company’s cost‑control program helped keep operating margins stable despite the price pressure.
EBITDA per tonne climbed to $121, more than double the low point seen earlier in the cycle, reflecting the company’s ability to leverage its diversified geographic footprint. Segment contributions to EBITDA in Q4 2025 were Europe 30%, Brazil 21%, North America 18% and Mining 16%, underscoring the importance of the mining arm to overall profitability.
CEO Aditya Mittal said the year was “critical” for the steel industry and ArcelorMittal, noting that geopolitical instability and market volatility presented challenges but that the company had laid foundations for a more resilient operating environment and had improved safety results across its operations.
The statutory release itself did not trigger a significant market reaction, but the company’s February 5 2026 full‑year results had a mixed response: earnings per share of $0.86 beat the consensus estimate of $0.56, while revenue of $14.97 billion missed the $15.56 billion estimate.
Strategically, ArcelorMittal is investing heavily in decarbonization, including a €1.3 billion electric‑arc‑furnace project in Dunkirk and a target of 2.8 GW of renewable capacity by 2028. The company also spent $1.1 billion on capital projects in 2025, such as pellet‑feed and bar‑mill upgrades in Brazil and iron‑ore expansion in Liberia. Dividend policy was updated to $0.60 per share for FY 2026, and the company reaffirmed a commitment to return at least 50% of post‑dividend free cash flow to shareholders through buybacks.
The statutory statements confirm ArcelorMittal’s scale and highlight the company’s ongoing challenges and investments. They provide a baseline for analysts to assess the company’s 2026 outlook, which the company expects to see a 2% rise in global apparent steel demand (excluding China) and continued progress toward its decarbonization and dividend goals.
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