US$ million, unless otherwise shown, IFRS | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
---|---|---|---|---|---|---|---|---|---|
Financial performance on a segment base | |||||||||
Steel | |||||||||
Revenues | 6,969 | 8,143 | 8,879 | 7,743 | 5,497 | 5,987 | 9,519 | 10,792 | |
COGS | (4,596) | (5,836) | (5,613) | (5,795) | (4,068) | (4,527) | (6,940) | (8,388) | |
Gross profit | 2,373 | 2,307 | 3,266 | 1,948 | 1,429 | 1,460 | 2,579 | 2,404 | |
EBITDA Steel | 1,930 | 1,795 | 2,672 | 1,483 | 1,004 | 1,081 | 1,933 | 1,352 | |
Steel, North America | |||||||||
Revenue | 1,779 | 2,500 | 2,583 | 1,864 | 1,464 | 2,270 | 3,160 | 3,036 | |
COGS | (1,604) | (2,204) | (2,215) | (1,656) | (1,243) | (1,980) | (2,623) | (2,643) | |
Gross profit | 175 | 296 | 368 | 208 | 221 | 290 | 537 | 393 | |
EBITDA Steel, North America | (28) | 38 | 14 | 58 | 28 | 55 | 280 | 139 | |
Coal | |||||||||
Revenue | 1,490 | 2,021 | 2,337 | 2,214 | 1,322 | 1,068 | 1,318 | 1,486 | |
COGS | (1,027) | (1,046) | (1,042) | (973) | (701) | (749) | (1,040) | (1,304) | |
Gross profit | 463 | 975 | 1,295 | 1,241 | 621 | 319 | 278 | 182 | |
EBITDA Coal | 400 | 843 | 1,218 | 1,226 | 644 | 351 | 376 | 141 | |
Eliminations and other revenue | (484) | (759) | (963) | (994) | (570) | (558) | (936) | (903) | |
Eliminations and other COGS | 581 | 884 | 913 | 1,002 | 568 | 754 | 992 | 938 | |
SG&A besides Steel, Steel North America and Coal Segments | (187) | (201) | (77) | (151) | (132) | (245) | (290) | 141 | |
Total EBITDA | 2,212 | 2,601 | 3,777 | 2,624 | 1,542 | 1,438 | 2,355 | 1,808 | |
Consolidated statement of profit or loss | |||||||||
Revenue | 9,754 | 11,905 | 12,836 | 10,827 | 7,713 | 8,767 | 13,061 | 14,411 | |
Steel | 6,969 | 8,143 | 8,879 | 7,743 | 5,497 | 5,987 | 9,519 | 10,792 | |
Other revenue | 358 | 498 | 559 | 503 | 388 | 425 | 704 | 890 | |
Steel, North America | 1,779 | 2,500 | 2,583 | 1,864 | 1,464 | 2,270 | 3,160 | 3,036 | |
Other revenue | 95 | 128 | 153 | 90 | 114 | 165 | 192 | 171 | |
Coal | 1,490 | 2,021 | 2,337 | 2,214 | 1,322 | 1,068 | 1,318 | 1,486 | |
Other revenue | 25 | 39 | 55 | 137 | 115 | 76 | 103 | 109 | |
Eliminations and other revenue | (484) | (759) | (963) | (994) | (570) | (558) | (936) | (903) | |
Cost of Sales | (6,712) | (8,273) | (8,011) | (7,485) | (5,521) | (6,595) | (9,734) | (11,501) | |
Gross profit | 3,042 | 3,632 | 4,825 | 3,342 | 2,192 | 2,172 | 3,327 | 2,910 | |
SG&A | (1,392) | (1,577) | (1,559) | (1,279) | (1,171) | (1,319) | (1,805) | (2,153) | |
Foreign exchange gains, loss on disposal and social expenses | 21 | (838) | 262 | (77) | (558) | (877) | (1,623) | (918) | |
Profit/(loss) from operations | 1,671 | 1,217 | 3,528 | 1,986 | 463 | (24) | (101) | (161) | |
Interest income | 6 | 8 | 18 | 14 | 10 | 9 | 17 | 23 | |
Interest expenses | (328) | (336) | (359) | (437) | (481) | (475) | (563) | (699) | |
Share of profits/(losses) of joint ventures and associates | 2 | 9 | 9 | 11 | (23) | (20) | 10 | 8 | |
Impairment of non-current financial assets | 0 | (56) | 0 | 0 | 0 | 0 | 0 | 0 | |
Loss on financial assets and liabilities, net | (71) | 17 | 13 | (57) | (9) | (48) | (583) | (43) | |
Loss on disposal groups classified as held for sale, net | 1 | 29 | (10) | (360) | 0 | 21 | 136 | 131 | |
Loss of control over a subsidiary | 0 | 0 | 0 | 0 | 0 | (167) | 0 | 89 | |
Other non-operating losses, net | 14 | 14 | 2 | (2) | (52) | (3) | 0 | 15 | |
Profit/(loss) before tax | 1,295 | 902 | 3,201 | 1,155 | (92) | (707) | (1,084) | (637) | |
Income tax benefit / (expense) | (437) | (537) | (731) | (396) | (96) | (12) | (194) | 86 | |
Net profit/(loss) | 858 | 365 | 2,470 | 759 | (188) | (719) | (1,278) | (551) | |
Multiplies & Other indicators | |||||||||
Margin | |||||||||
Gross profit margin | 31% | 31% | 38% | 31% | 28% | 25% | 25% | 20% | |
EBITDA margin | 23% | 22% | 29% | 24% | 20% | 16% | 18% | 13% | |
Operational margin | 17% | 10% | 27% | 18% | 6% | -0% | -1% | -1% | |
Net profit margin | 9% | 3% | 19% | 7% | -2% | -8% | -10% | -4% | |
Debt indicators | |||||||||
Total debt | 4,983 | 4,868 | 4,638 | 5,432 | 5,961 | 6,724 | 6,907 | 8,166 | |
Total debt/EBITDA ratio | 2.25x | 1.87x | 1.23x | 2.07x | 3.87x | 4.68x | 2.93x | 4.52x | |
Free cash flow | 1,020 | 1,456 | 1,940 | 1,322 | 659 | 799 | 1,012 | 458 |
US$ million, unless otherwise shown, IFRS | 2H2020 | 1H2020 | 2H2019 | 1H2019 | 2H2018 | 1H2018 | 2H 2017 | 1H 2017 | |
---|---|---|---|---|---|---|---|---|---|
Financial performance on a segment base | |||||||||
Steel | |||||||||
Revenues | 3,535 | 3,434 | 3,984 | 4,159 | 4,454 | 4,425 | 4,098 | 3,645 | |
COGS | (2,304) | (2,292) | (2,878) | (2,958) | (2,701) | (2,912) | (2,891) | (2,904) | |
Gross profit | 1,231 | 1,142 | 1,106 | 1,201 | 1,753 | 1,513 | 1,207 | 741 | |
EBITDA Steel | 1,014 | 916 | 846 | 949 | 1,414 | 1,258 | 957 | 526 | |
Steel, North America | |||||||||
Revenue | 751 | 1,028 | 1,184 | 1,316 | 1,432 | 1,151 | 985 | 879 | |
COGS | (668) | (936) | (1,051) | (1,153) | (1,197) | (1,018) | (884) | (772) | |
Gross profit | 83 | 92 | 133 | 163 | 235 | 133 | 101 | 107 | |
EBITDA Steel, North America | (7) | (21) | (22) | 60 | (26) | 40 | 44 | 14 | |
Coal | |||||||||
Revenue | 709 | 781 | 893 | 1,128 | 1,093 | 1,244 | 1,093 | 1,121 | |
COGS | (490) | (537) | (503) | (543) | (509) | (533) | (513) | (460) | |
Gross profit | 219 | 244 | 390 | 585 | 584 | 711 | 580 | 661 | |
EBITDA Coal | 182 | 218 | 325 | 518 | 548 | 670 | 567 | 659 | |
Eliminations and other revenue | (225) | (259) | (296) | (463) | (486) | (477) | (455) | (539) | |
Eliminations and other COGS | 273 | 308 | 400 | 484 | 418 | 495 | 444 | 558 | |
SG&A besides Steel, Steel North America and Coal Segments | (98) | (89) | (135) | (66) | 3 | (80) | (85) | (66) | |
Total EBITDA | 1,139 | 1,073 | 1,119 | 1,482 | 1,871 | 1,906 | 1,472 | 1,152 | |
Consolidated statement of profit or loss | |||||||||
Revenue | 4,771 | 4,983 | 5,765 | 6,140 | 6,493 | 6,343 | 5,721 | 5,106 | |
Steel | 3,536 | 3,433 | 3,984 | 4,159 | 4,454 | 4,425 | 4,098 | 3,645 | |
Other revenue | 180 | 178 | 232 | 266 | 304 | 255 | 283 | 220 | |
Steel, North America | 751 | 1,028 | 1,184 | 1,316 | 1,432 | 1,151 | 985 | 879 | |
Other revenue | 55 | 40 | 72 | 56 | 82 | 71 | 46 | 44 | |
Coal | 709 | 781 | 893 | 1,128 | 1,093 | 1,244 | 1,093 | 1,121 | |
Other revenue | 8 | 17 | 18 | 21 | 24 | 31 | 62 | 75 | |
Eliminations and other revenue | (225) | (259) | (296) | (463) | (486) | (477) | (455) | (539) | |
Cost of Sales | (3,224) | (3,488) | (4,090) | (4,183) | (4,014) | (3,997) | (3,872) | (3,613) | |
Gross profit | 1,547 | 1,495 | 1,675 | 1,957 | 2,479 | 2,346 | 1,849 | 1,493 | |
SG&A | (693) | (699) | (849) | (728) | (834) | (725) | (660) | (619) | |
Foreign exchange gains, loss on disposal and social expenses | (74) | 95 | (522) | (316) | 152 | 110 | (34) | (43) | |
Profit/(loss) from operations | 780 | 891 | 304 | 913 | 1,797 | 1,731 | 1,155 | 831 | |
Interest income | 2 | 4 | 3 | 5 | 11 | 7 | 6 | 8 | |
Interest expenses | (160) | (168) | (165) | (171) | (172) | (187) | (207) | (230) | |
Share of profits/(losses) of joint ventures and associates | (1) | 3 | 4 | 5 | 4 | 5 | 8 | 3 | |
Impairment of non-current financial assets | 0 | 0 | 0 | (56) | 0 | 0 | 0 | 0 | |
Loss on financial assets and liabilities, net | (31) | (40) | 24 | (7) | 10 | 3 | (6) | (51) | |
Loss on disposal groups classified as held for sale, net | 0 | 1 | 29 | 0 | 0 | (10) | (95) | (265) | |
Loss of control over a subsidiary | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
Other non-operating losses, net | 5 | 9 | 13 | 1 | 8 | (6) | 0 | (2) | |
Profit/(loss) before tax | 595 | 700 | 212 | 690 | 1,658 | 1,543 | 861 | 294 | |
Income tax benefit / (expense) | (250) | (187) | (191) | (346) | (333) | (398) | (188) | (208) | |
Net profit/(loss) | 345 | 513 | 21 | 344 | 1,325 | 1,145 | 673 | 86 | |
Multiplies & Other indicators | |||||||||
Margin | |||||||||
Gross profit margin | 32% | 30% | 29% | 32% | 38% | 37% | 32% | 29% | |
EBITDA margin | 24% | 22% | 19% | 24% | 29% | 30% | 26% | 23% | |
Operational margin | 16% | 18% | 5% | 15% | 28% | 27% | 20% | 16% | |
Net profit margin | 7% | 10% | 0% | 6% | 20% | 18% | 12% | 2% | |
Debt indicators | |||||||||
Total debt | 4,983 | 5,097 | 4,868 | 4,526 | 4,638 | 4,786 | 5,432 | 5,569 | |
Total debt/EBITDA ratio | 4.37x | 4.75x | 4.35x | 3.05x | 2.48x | 2.51x | 3.69x | 4.83x | |
Free cash flow | 705 | 315 | 764 | 692 | 1,279 | 661 | 773 | 549 |