ArcelorMittal: losses fall in 2020

(CercleFinance.com) - The ArcelorMittal share is up 1% in a flat market on Thursday, after the steel giant announced a lower loss per share of 0.
64 dollar for 2020, compared to 2.42 dollars per share for 2019, whilst analysts were expecting a smaller reduction.

EBITDA fell by 17% to 4.3 billion dollars, which also exceeds the consensus, while revenues fell by 25% to nearly 53.3 billion dollars and steel deliveries in volume were down 18% at 69.1 million tonnes.

The group's board proposed to increase the basic dividend to shareholders to 0.30 dollar per share (to be paid in June 2021), and to return 570 million dollars of capital to shareholders through a new share buyback program in 2021.


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