investments ArcelorMittal will increase this year and will increase from $3,500 million to between $4,500 and 5,000 million in 2022.. Investments for 2023 included a 400 million investment for the implementation of planned decarbonisation plans for Gijón, which includes replacing a blast furnace with a direct iron ore reduction plant using green hydrogen and a hybrid arc furnace electricity powered by renewable energy. .
The Asturias project will mean: More than 1,000 million Euro investment more than 50% public assistance is expected for this. Besides Asturias, ArcelorMittal plans to initiate investments for green steel production in Germany, France, Belgium and Canada. Sources from the multinational steel company said yesterday that these plans will be developed for five years and budget planning – and the distribution of 400 million by 2023 – will depend on how these projects progress. Currently from Asturias awaiting the European Commission’s approval of public aid. The union UGT-FICA demanded yesterday that the investment committee of the multinational steel company approve and approve the decarbonization plan for the Gijón plant. In the presentation of the results, ArcelorMittal management “progress on important projects decarbonization in Europe”among them was that of Asturias.
ArcelorMittal is waiting for this yearor a recovery in the global steel market Outperforming production adjustments implemented in recent months, which meant that one of the two blast furnaces in Gijón, Asturias, was shut down for more than four months.
The steel giant’s profits fell 38% in 2022, mainly due to the contraction in the steel market in the last months of the year, when the multinational company decided to shut down some of its main production facilities. In the last quarter, the decrease in profit was 93%. However, the company earned a total of 8 billion 667 million euros in 2022, making it one of the highest figures in its history. Sales increased 4.3% to €74,398 million due to higher prices, but the gross operating result (Ebitda) fell 27% to €13,195 million.
“Despite the difficulties that have arisen as the year progresses,or our results for the year show the advantages delivered by our strengthened portfolio of assets and improvements we have made to our cost structure. “This, together with the mitigation measures we took in the second half to adapt production levels and optimize energy consumption, strengthened our company’s resilience,” said Aditya Mittal, ArcelorMittal CEO.
Steel production fell by more than 10 million tons in 2022 (from 69.1 to 59 million tons in 2022) and almost half of the cut was for factories in Europe (from 36.7 to 31.9 million tons). Production fell, but so did net debt at the end of the year, which was its historical minimum of €2,045 million.
“Our continued positive cash flow generation and the strength of our balance sheet have allowed us to ensure the growth and development of the company,” said Aditya Mittal, who is optimistic about the development of the steel market for 2023. The data shows that the move by customers to reduce inventories in the second half of 2022 has reached its peak, which will contribute to increasing steel consumption and steel product margins. While growing geopolitical uncertainty remains, we rely on strength and ArcelorMittal’s resilience and ability to successfully implement our growth strategy. decarbonization and sustainable profitability at all stages of the cycle‘ said ArcelorMittal’s CEO.
After learning of the 2022 results, UGT-FICA and CC OO demanded the following to management in Spain this Thursday: Gather the negotiating table for the VIII Framework Agreement to agree on salaries that guarantee workers’ purchasing power. José Manuel Castro, CC OO’s general secretary at ArcelorMittal, pointed out that workers’ salaries have been frozen for fourteen months, and he does not rule out the possibility of mobilization if the company does not accept a review. UGT-FICA positively evaluated the increase in activity in Asturias following the commissioning of blast furnace “A” in Gijón this week and understood that this increase in production made it impossible to replace the (current) existing ERTE. 31 March).