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ACL - Short-Form Announcement: Reviewed condensed consolidated financial results - six months ended 30 June 2024
ArcelorMittal South Africa Limited
Registration number 1989/002164/06
JSE Share code: ACL
ISIN: ZAE000134961
("ArcelorMittal South Africa" or "the company")
Short-form announcement
Reviewed condensed consolidated financial results for the six months ended 30 June 2024
SALIENT FEATURES
- Revenue of R20 506 million, down 3% from R21 045 million
- Loss per share of 109 cents, down 241% from a loss of 32 cents
- Headline loss per share of 100 cents, down 150% from a loss of 40 cents
- Net asset value per share of R5.91, down 42% from R10.16
KEY STATISTICS
Six months ended Year ended
30 June 30 June 31 December
2024 2023 % Change 2023
Financials (R million)
Revenue 20 506 21 045 (2.6) 41 637
EBITDA (221) 499 56
(Loss)/profit from operations (542) 94 2 937)
Net loss (1 214) (359) (238.2) 3 920)
Headline loss (1 110) (448) (147.8) 1 890)
Net borrowing 3 793 2 990 26.9 3 215
Net asset value 6 587 11 341 (41.9) 7 799
Financial ratios (%)
EBITDA margin (1.1) 2.4 0.1
Return on ordinary shareholders' equity (on headline earnings) (30.9) (7.8) (19.4)
Net borrowing to equity 57.6 26.4 (41.2)
Share statistics (cents)
Loss per share (109) (32) 240.6) (352)
Headline loss per share (100) (40) 150.0) (170)
Dividends per share - - -
Net asset value per share (R) 5.91 10.16 (41.8) 7.00
Safety
Lost-time injury frequency rate 1.13 0.72 (56.9) 0.77
Operational statistics ('000 tonnes)
Crude steel production 1 223 1 356 (9.8) 2 767
Steel sales 1 172 1 193 (1.8) 2 412
- Local 931 963 (3.3) 1 898
- Export 241 230 4.8 514
Commercial coke 50 20 150.0 33
Segmental performance (R million)
Steel operations
- Revenue 19 919 20 619 (3.4) 40 885
- EBITDA (346) 460 (373)
Non-Steel operations
- Revenue 700 460 52.2 907
- EBITDA 150 75 100.0 534
Corporate including adjustments and eliminations
- EBITDA (25) (36) 30.6 (105)
Short-form announcement
This short-form announcement is the responsibility of the board of directors of ArcelorMittal South Africa and is
a summarised version of the group's full announcement and as such, it does not contain full or complete details
pertaining to the group's results. This short-form announcement is itself not reviewed but extracted from the
reviewed condensed consolidated financial statements which was reviewed by Ernst & Young who issued an unmodified
review conclusion on the reviewed consolidated interim financial statements.
Their review conclusion report can be obtained from the company's registered office and on the group's website at
https://southafrica.arcelormittal.com/InvestorRelations/InterimResults.aspx.
Any investment decisions by investors and or shareholders should be made after taking into consideration the full
announcement. The full results announcement is available for viewing at
https://urldefense.com/v3/__https://senspdf.jse.co.za/documents/2024/JSE/ISSE/ACL/AMSAInt24.pdf and on the group's website at
https://southafrica.arcelormittal.com/InvestorRelations/InterimResults.aspx.
The full announcement is available for inspection, at no charge, at the registered office of ArcelorMittal South
Africa Limited, (Room N3-7, Main Building, Delfos Boulevard, Vanderbijlpark) and the offices of the sponsor
(Absa Bank Limited (acting through its Corporate and Investment Banking Division)), 15 Alice Lane, Sandton, from
09:00 to 16:00 on business days.
Copies of a full announcement can be requested from the registered office by contacting (016) 889 2352.
The short-form announcement has not been audited or reviewed by the company's auditors.
Release date: 1 August 2024
Sponsor to ArcelorMittal South Africa Limited
Absa Bank Limited (acting through its Corporate and Investment Banking division)
This report is available on the ArcelorMittal South Africa's website at:
http://www.arcelormittal.com/southafrica/.
Share queries: Please call the ArcelorMittal South Africa Share care number toll free on 0800 006 960 or
+27 11 370 7850.
Date: 01-08-2024 07:05:00
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