ArcelorMittal Brasil registers a Profit of $1.85 Billion in 2022
ArcelorMittal Brasil achieved remarkable results in 2022, despite a decline in apparent steel consumption in the country of 10.9% to 23.4 million metric tons, with net revenue increased by 3.8% in 2022 to $13.9 billion, and steel sales volume reduced to 12.4 million metric tons, of which 7.4 million metric tons (60%) were destined for the domestic market, and 5.0 million metric tons (40%) for the foreign market. Additionally, the company registered a significant net income of $1.85 billion, down 33% YoY
ArcelorMittal Brasil's President, Mr. Jefferson De Paula, attributed the success to ArcelorMittal's "rapid and assertive response to periods of oscillations, adjusting production with agility to the demands of the national and international markets, implementing measures for the preservation of cash, cost reduction, process optimization, and increased productivity."
The company also maintained its expansion investment program, the largest currently underway in the Brazilian steel sector, of $1.5 billion. The objective is to increase the installed capacity, modernize the industrial base, and train the units for the manufacture of technological and exclusive steels, in addition to increasing the production of iron ore, between 2022 and 2025.
In 2022, ArcelorMittal took another important step to strengthen its operations in Brazil and began the process of acquiring 100% of the shares of Companhia Siderúrgica do Pecém, in Ceará. The deal was completed in March 2023, consolidating its leadership as the largest steel producer in Brazil and Latin America. The plant has a capacity of 3 million metric tons per year and is strategically located in the Pecém Complex, having access, via conveyor belts, to the Port of Pecém.