ArcelorMittal Appoints New CEO; Swings to 4Q Net Profit
11 Febrero 2021 - 1:34AM
Noticias Dow Jones
By Joshua Stein
ArcelorMittal on Thursday named a new chief executive and said
it swung to a net profit in the fourth quarter of 2020.
The company appointed Aditya Mittal to be its next chief
executive officer, and said current CEO Lakshmi Mittal will become
executive chairman. Aditya Mittal is currently chief financial
officer and head of ArcelorMittal Europe.
The Luxembourg-based steel-and-mining company reported a
quarterly net profit of $1.21 billion, compared with a net loss of
$1.88 billion a year earlier.
In the fourth quarter, sales dropped to $14.18 billion from
$15.51 billion, mostly due to the impact of the coronavirus
pandemic on overall steel demand, according to the company.
Earnings before interest, taxes, depreciation and amortization
were $1.73 billion, up from $925 million the previous year.
Analysts expected fourth-quarter Ebitda of $1.47 billion, according
to a consensus provided by the company.
ArcelorMittal proposed a dividend of $0.30 to be paid in June
2021.
Write to Joshua Stein at joshua.stein@wsj.com
(END) Dow Jones Newswires
February 11, 2021 02:19 ET (07:19 GMT)
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