Home Business BlackRock increases its stake in ArcelorMittal to 5.68%

BlackRock increases its stake in ArcelorMittal to 5.68%

ArcelorMittal has reported that today, August 25, the company received a shareholding notice from BlackRock, the US mutual fund manager, which ranks among the largest in the world, saying it holds 5.68% of the capital of the multinational steel group.

This announcement, Acerlor Mittal adds, is available in the Luxembourg Stock Exchange’s electronic OAM database at www.bourse.lu and on the company’s website.

ArcelorMittal, first half results

ArcelorMittal’s net income was US$1.9 billion in the second quarter of 2023 compared to US$1.1 billion in the first quarter, including US$400 million share of net income from joint ventures and associates compared to $300 million in the first three months. Net income was $3,000 million for the first half of 2023, up $1,700 million from the $1,300 million for the second half of 2022.

Pre-diluted earnings per share (EPS) for the second quarter of 2023 were $2.21 per share. The return on equity (ROE) over the last twelve months was 10.3%; Book value per share is now $66 per share after repurchasing 5.7 million shares during the quarter.

The Company ended the second quarter of 2023 with net debt of $4,500 million, a reduction of $700 million from existing net debt at the end of the first quarter of 2023, despite continued share repurchases (200). million US dollars and the payment of dividends (200 million US dollars). As of June 30, 2023, gross debt was $10.5 billion and cash and cash equivalents were $5.9 billion, compared to $11.5 billion and $6.3 billion, respectively, as of June 30, 2023 March 31, 2023.

No Comments

Leave A Reply

Please enter your comment!
Please enter your name here

Exit mobile version