ArcelorMittal Reports Q1 2025 Results; AMNS India Expansion on Track

ArcelorMittal reported an EBITDA of $1.58 billion in Q1 2025, down 4.5% from the previous quarter and 19.2% year-on-year. Sales stood at $14.8 billion, slightly higher than Q4 2024 but below Q1 2024 levels. Net income recovered to $805 million from a $390 million loss in the previous quarter, though it was lower than $938 million in Q1 2024. EBITDA per tonne declined to $116, compared to $122 in Q4 2024.
Net debt rose to $6.7 billion, up from $5.1 billion at the end of 2024, driven by seasonal working capital investments. Free cash flow was negative at $1.4 billion, while capex stood at $1 billion. Crude steel production remained steady at 14.8 Mt, and shipments marginally increased to 13.6 Mt.
At AMNS India, Q1 2025 EBITDA dropped to $101 million, down 24.1% from the previous quarter and 67.6% lower year-on-year. Sales declined to $1.45 billion, and steel production and shipments also saw double-digit declines.
Despite the dip in performance, AMNS India’s expansion at Hazira to 15 Mtpa remains on schedule for completion by end-2026. Value-added facilities like CGL3, PLTCM, and CGAL are expected to boost margins by end-2025, with products like Magnelis and Optigal gaining market traction. Plans are underway to add a 2.5 Mtpa compact strip mill, pushing Hazira’s capacity to 18 Mtpa.
AMNS India has initiated land acquisition in Andhra Pradesh for a new 7.3 Mtpa integrated steel plant in Rajayyapeta. The company has also secured two more high-grade iron ore mines in Chhattisgarh to strengthen its raw material base.