The steel group ArcelorMittal obtained an attributed net profit of $867 million (about €800 million) in the first nine months of 2026, which represents a plunge of 70.8% compared with the $2,975 million (around €2,744 million) earned in the same interval of the previous fiscal year.
As the company reported this Thursday to the National Securities Market Commission (CNMV), the accounts were weighed down in the third quarter by accounting impairments worth $852 million (€786 million) and by extraordinary items of $293 million (€270 million), linked to the temporary shutdown of its operations in ArcelorMittal Kryvyi Rih (Ukraine) after it had suffered multiple missile attacks.
In adjusted terms, the net profit attributable between January and September reached $2,126 million (€1,961 million), which implies a drop of 6.9% compared with the $2,284 million from the same period of 2025.
The sales of the multinational rose by 5% year-on-year in the first nine months, reaching $48,684 million (€44,912 million).
The group’s gross operating result (Ebitda) increased to $5,766 million (€5,319 million) between January and September, a 16.5% increase compared with a year earlier. Ebitda per shipped ton rose by 21.5%, from 121 to 147 dollars per ton.
The operating result accumulated up to September was $1,677 million (€1,547 million), 49.2% less than in the same period of the previous fiscal year, mainly due to the effect of the aforementioned extraordinary items and provisions related to Ukraine.
In the production area, the manufacture of crude steel totaled 41.3 million metric tons up to September, 3.5% below the 42.8 million of the preceding year.
Steel shipments fell to 39.2 million tons, 4.4% less than the 41 million of the same period of 2025. By contrast, the group’s total iron ore production grew by 9.2%, to 39 million tons.
Increase in debt and a message of optimism
By the end of September, ArcelorMittal’s net debt reached $10.339 billion (€9.538 billion), 8.8% higher than at the end of June and 30.3% above the December 2025 level, after allocating cash resources to working capital and strategic investments. Available liquidity was maintained at $8.700 billion (€7.724 billion).
"Our performance in the third quarter provides further evidence of the structural improvement in ArcelorMittal’s ability to generate revenue. We continue to generate healthy margins, with EBITDA per tonne of $155 (€44 more year-on-year), which reflects the benefits of the measures we have taken over several years to optimize our asset portfolio and invest in strategic growth", said ArcelorMittal Chief Executive Officer Aditya Mittal.
Mittal acknowledged that the quarter was marked by "headwinds that included higher energy costs in Europe, as well as weather-related disruptions and lower prices that affected the mining business", although he stressed that "encouraging signals are being seen in both areas".
"Another very encouraging development is the support we are seeing from European policy. The implementation of the CBAM mechanism and the new framework for tariff-rate quotas (TRQ) are creating a more balanced and sustainable operating environment for the European steel industry, enabling greater capacity utilization and profitability over time. It is important that this momentum continues, including additional measures to address the impact of imports in downstream industrial sectors that are steel-intensive", Mittal highlighted.
Regarding future developments, he expressed confidence: "Looking ahead, we remain very positive. The full benefit of the changes taking place in Europe will be fully reflected starting next year. The trade measures in Canada and Mexico also point to a solid year for our business in North America. At the same time, our strategic growth projects continue to progress at a good pace and remain a key differentiating element for ArcelorMittal, providing a visible path toward higher earnings and cash generation", he concluded.