MT - ArcelorMittal says $4.1B in sales at stake in Ukraine

ArcelorMittal (MT +1.4%) says sanctions on Russia affects the company's sourcing of raw materials at operations in Ukraine and markets for sales by its other operations in the former Soviet states that generated $4.1B in sales last year, according to Bloomberg. In its annual report, the steelmaker said it had "significant" operations in Ukraine, including a plant which produced 4.9M tons of steel and mines that produced 11.7M tons of iron ore in 2021, and related property, plant and equipment had a $2.3B carrying value on its balance sheet at year-end 2021. Earlier this month, ArcelorMittal said it would halt steelmaking operations at the Kryvyi Rih plant, one of Europe's biggest steel mills. The process of idling additional operations will depend on the "remaining course of the conflict" and potential repairs and damages that have been sustained, ArcelorMittal said in its report. ArcelorMittal recently reported Q4 EBITDA of $5.05B, nearly

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ArcelorMittal says $4.1B in sales at stake in Ukraine