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General information

Sector: Basic Materials

The company is available at Interactive Brokers

ArcelorMittal South Africa Limited (JSE:ACL) is the largest steel producer on the African continent. ArcelorMittal SA operates in three areas:


Flat steel products


Produced at Vanderbijlpark and Saldanha Works. Products include slabs and heavy plates as well as hot rolled coil, cold rolled and coated products. Major consumers are the construction, piping, packaging and automotive industries.


Long steel products


Produced at Newcastle and Vereeniging Works. Products include bars, billets, blooms, hot-finished and cold-drawn seamless tubes, window and fencing profiles, light, medium and heavy sections, rod and forged products. Long steel products are used primarily in the construction industry.


Coke and Chemicals


From batteries in Vanderbijlpark, Newcastle and Pretoria Works, Coke and Chemicals operations produces metallurgical coke for the company's furnaces in Vanderbijlpark and Newcastle Works, and commercial coke for sale to the ferro-alloy industry. The business also processes and beneficiates metallurgical and steel byproducts, including coal tar. These are sold as raw materials for a wide variety of uses.

ArcelorMittal SA has a depth of technical and managerial expertise that has been carefully nurtured since its inception in 1928. ArcelorMittal SA is known for its reliability and focus which has forged the organisation into a modern, highly competitive supplier of steel products to both domestic and global markets.
ArcelorMittal SA's global standing is underpinned by its association with the world’s largest steel producer, the ArcelorMittal Group. Through this association, ArcelorMittal SA has access to world-class research and development, best practice processes, aggressive procurement contracts and international market leverage to ensure the company remains at the cutting edge of the international steel industry.
The company’s ability to generate profits and cash throughout the fluctuations of the steel cycle is testimony to the success of years of intensive business re-engineering and the cultivation of a continuous improvement culture that has embedded ArcelorMittal SA’s position among the world’s lowest cash cost producers of steel.

ArcelorMittal SA is headquartered in Vanderbijlpark, Gauteng.



  • Dividend yield for the last twelve months 0.0%
  • Free cash flow yield -130.5% (LTM), projected -130.5%
  • Share price is 62.4% higher than minimum and 86.9% lower than maximum for the last 3 years
  • The company is undervalued by EV / LTM EBITDA multiple compared to target level (3.7x vs
    )
  • The company is undervalued by EV / projected EBITDA multiple compared to target level (-41.9x vs
    )
  • Fundamental value created in LTM (estimate)

Key Financials

Share price, ZAR:  (0.0%)1.3800
Share price, USD: 0.075156
Common stocks: 1 137 681 159

Dividend Yield:  0.0%
FCF Yield LTM / expected: -130.5% / -130.5%
EV / LTM EBITDA: 3.7x
Last revenue growth (y/y):  -19.7%
Last growth of EBITDA (y/y):  -88.2%
Historical revenue growth:  +2.2%
Historical growth of EBITDA:  +89.8%
EV / expected EBITDA:
Target EV / EBITDA (hist percentile):
EV / LTM EBITDA mutiple calculation
Market Cap ($m): 86
Net Debt ($m): 167
EV (Enterprise Value): 252
EBITDA LTM ($m): 68
EV / LTM EBITDA: 3.7x
Price to Book: 0.14x

Revenue and EBITDA

Semi-Annual values ($m)

Change (y/y)

Cash Flow

FCF ($m)

Net Debt / Cash and Equivalents ($m)

Share price and dividends (Download history)

Share price

Payment ZAR per share

Multiple and potential

EV / EBITDA

Potential dynamics

TechCentral Headlines

Sasol, ArcelorMittal to cooperate in move to green energy

Sasol is partnering steelmaker ArcelorMittal South Africa to explore carbon capture technology and steel production using green hydrogen.

2022-10-18 14:15 +02:00
by Agency Staff

JSE:SOL JSE:ACL JSE:ARH JSE:ISA

SA unemployment hit record high – before Covid-19 hit

South Africa’s unemployment rate hit a record high in the first quarter of this year as key sectors including agriculture shed jobs, data showed on Tuesday.

2020-06-23 05:11 +02:00
by Agency Staff

JSE:TBS JSE:ACL JSE:MPT

Reuters Headlines

ArcelorMittal South Africa shares tumble on plan to close long steel ops

(Reuters) -ArcelorMittal South Africa shares tumbled nearly 14% on Tuesday after the company said it plans to close its long steel operations due to weak demand and persistent infrastructure problems, potentially affecting 3,500 workers.

2023-11-28

JSE:ACL JSE:ARH

UPDATE 2-ArcelorMittal South Africa shares tumble on plan to close long steel ops

Steelmaker blames S.Africa`s weak growth, infrastructure crisis

2023-11-28

JSE:ACL JSE:ARH

ArcelorMittal S.Africa shares fall on plan to close long steel ops

ArcelorMittal South Africa shares fell more than 7% on Tuesday after the company said it plans to close its long steel operations due to weak demand and persistent infrastructure problems, potentially impacting 3,500 jobs.

2023-11-28

JSE:ACL JSE:MPT

UPDATE 1-ArcelorMittal S.Africa shares fall on plan to close long steel ops

Steelmaker blames S.Africa`s weak growth, infrastructure crisis

2023-11-28

JSE:ACL JSE:MPT

ArcelorMittal S.Africa reports H1 loss amid power crisis

ArcelorMittal South Africa swung to a half-year loss on Thursday, blaming the country`s electricity crisis, high inflation and weak demand from key steel-consuming sectors.

2023-07-27

JSE:ACL JSE:MPT

UPDATE 1-ArcelorMittal S.Africa`s profit falls 62% on weak steel prices, demand

ArcelorMittal South Africa`s full-year profit declined by 62% due to weaker steel prices and demand at a time when costs were driven up by significant price increases of key inputs such as coal, the company said on Thursday.

2023-02-09

JSE:ACL

Sasol, ArcelorMittal to jointly explore green hydrogen, carbon capture projects

South African petrochemicals company Sasol on Tuesday said it was partnering steelmaker ArcelorMittal South Africa to explore carbon capture technology and steel production using green hydrogen.

2022-10-18

JSE:SOL JSE:ACL JSE:ARH JSE:ISA

UPDATE 1-ArcelorMittal South Africa shares drop after power cuts, rail issues dent production

ArcelorMittal South Africa shares fell 10% on Thursday after the company said poor rail service, labour disruptions and the country`s worst-ever power cuts drove steel production down.

2022-07-28

JSE:ACL JSE:MPT

S.Africa`s ArcelorMittal plans to invest in rail equipment

ArcelorMittal South Africa is considering investing in rail transport equipment, Chief Executive Kobus Verster said on Thursday, after a decline in first-half steel production partly blamed on logistics problems dampened strong earnings.

2022-07-28

JSE:ACL JSE:MPT

S.African labour union ends ArcelorMittal strike after signing wage deal

South Africa`s largest metal workers union on Wednesday said it had signed a wage deal with ArcelorMittal South Africa Ltd, ending a two-week strike over a pay dispute.

2022-05-26

JSE:ACL JSE:ISA

S.Africa`s ArcelorMittal shares down 6% on second day of strike

ArcelorMittal South Africa Ltd`s share price was down 5.97% at 1500 GMT on Thursday on the Johannesburg Stock Exchange on the second day of a strike over wages, as workers picketed outside its factories.

2022-05-12

JSE:AVI JSE:ACL

S.Africa`s ArcelorMittal shares down 6% on second day of strike

(Reuters) -ArcelorMittal South Africa Ltd`s share price was down 5.97% at 1500 GMT on Thursday on the Johannesburg Stock Exchange on the second day of a strike over wages, as workers picketed outside its factories.

2022-05-12

JSE:AVI JSE:ACL

UPDATE 1-S.Africa`s ArcelorMittal shares down 6% on second day of strike

ArcelorMittal South Africa Ltd`s share price was down 5.97% at 1500 GMT on Thursday on the Johannesburg Stock Exchange on the second day of a strike over wages, as workers picketed outside its factories.

2022-05-12

JSE:AVI JSE:ACL

S.Africa court bars some ArcelorMittal workers from strike -union

South Africa`s labour court has ordered workers at ArcelorMittal South Africa Ltd`s steel plants, blast furnaces and coke batteries to be excluded from an ongoing job boycott, after the company argued these are essential services barred from striking by law, the metal-workers union said.

2022-05-12

JSE:AVI JSE:ACL

UPDATE 1-South Africa labour union begins strike at ArcelorMittal

South Africa`s largest metal-workers` union began a strike at ArcelorMittal South Africa Ltd on Wednesday after wage negotiations broke down, the steelmaker said in a statement.

2022-05-11

JSE:ACL JSE:MPT

UPDATE 2-Kumba Iron Ore pays out cash and invests in Sishen mine after strong profits

* To invest 3.6 bln rand to extend Sishen life of mine (Adds analyst comment, cash flow, gives detail on Sishen life of mine)

2021-02-23

JSE:AGL JSE:KIO JSE:SLM JSE:AVI JSE:ACL JSE:EMN JSE:EMH

ArcelorMittal South Africa falls deeper into half-year loss as steel demand falls

Steel producer ArcelorMittal South Africa Ltd fell deeper into a half-year loss as demand for steel dropped due to the new coronavirus and output declined after operations were shut during a lockdown, the company said on Thursday.

2020-07-30

JSE:AVI JSE:ACL JSE:MPT JSE:ISA

UPDATE 1-South Africa`s Massmart says 1,800 Game jobs at risk

South Africa retailer Massmart Holdings Ltd has started talks with unions to cut up to 1,800 jobs at the company`s struggling Game stores as constrained spending and the new coronavirus weigh on performance, the company said on Tuesday.

2020-07-07

JSE:TBS JSE:AVI JSE:ACL JSE:SPG JSE:MSM JSE:MPT JSE:LEW JSE:ARH

UPDATE 1-ArcelorMittal South Africa issues force majeure, cuts salaries

ArcelorMittal South Africa has issued force majeure notices to customers and suppliers "where appropriate" as a nationwide three-week lockdown impacts Africa`s biggest steel producer.

2020-04-03

JSE:AVI JSE:ACL JSE:MPT JSE:LEW

ArcelorMittal South Africa to cut more than 2,000 jobs, shares drop

The South African arm of steelmaker ArcelorMittal expects to plunge to a first-half loss and cut more than 2,000 jobs as it struggles with cheap imports, rising costs and a flagging local economy, it warned on Wednesday.

2019-07-10

JSE:ACL

UPDATE 1-South Africa`s struggling state arms firm Denel fires CFO

South African state-owned weapons manufacturer Denel has fired its chief financial officer Odwa Mhlwana after he was found guilty of all disciplinary charges relating to irregular expenditure, the firm said on Friday.

2018-11-09

JSE:AVI JSE:ACL

Production and reserves

Production

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Releases

2022-08-12
Arcelormittal: 2022 Grant In Terms Of Long - Term Incentive Plan.
2022-07-28
ACL - Reviewed condensed consolidated financial results for the six months ended 30 June 2022
2022-07-20
ACL - Trading Statement and Business Update for the six months ended 30 June 2022
2022-05-26
ACL - Wage Dispute Resolved
2022-05-20
ACL: Results of the AGM held on 19 May 2022
2022-05-11
ACL - Annual Wage Negotiations Break Down
2022-05-03
ACL - Broad Based Black Economic Empowerment Act: Annual Compliance Report
2022-04-13
ACL - No change Statement, Notice of AGM, Annual Financial Statements, Integrated Report and ESG Report
2022-02-10
ACL - Short Form: Group Financial Results for the year ended 31 December 2021
2022-01-25
ACL - Trading Statement for the year ended 31 December 2021
2021-11-10
ACL - General LTIP Participants
2021-10-27
ACL: Dealings In Security By A Prescribed Officer.
2021-10-26
ACL - Dealings in securities by a prescribed officer
2021-10-26
CANCELLATION OF S452928 ACL - Dealings in securities by a prescribed officer
2021-10-26
ACL - Dealings in securities by a prescribed officer
2021-09-20
ACL - Appointment of interim Chief Financial Officer
2021-09-20
CANCELLATION OF S451453 ACL - Appointment of interim Chief Financial Officer
2021-09-20
ACL - Appointment of interim Chief Financial Officer
2021-08-06
ACL - Vesting and Settlement: Long Term Incentive Plan(“LTIP”)

SENS Announcements

2024-07-02
ACL - Business update, update on the deferral of the wind-down of the Longs Business and Trading Statement
2024-05-27
ACL -Results of the Annual General Meeting held on 24 May 2024
2024-05-07
ACL - Broad Based Black Economic Empowerment Act: Annual Compliance Report
2024-04-19
ACL - Notice of annual general meeting and salient dates
2024-03-27
ACL - Annual Financial Statements, Integrated Report, ESG Report and No Change Statement
2024-03-22
ACL - Appointment of Financial Director
2024-02-08
ACL - Short-Form - Reviewed Condensed Group financial results for the year ended 31 December 2023
2024-01-29
ACL - Trading Statement and Business Update for the year ended 31 December 2023
2023-11-28
Wind down of the broader long steel products operations at ArcelorMittal South Africa Limited
2023-09-18
ACL - 2023 Grant in terms of Long Term Incentive Plan
2023-08-23
ACL - Conclusion of the renewal of the Revolving Borrowing Base Facility by ArcelorMittal and AMRAS
2023-07-27
Reviewed condensed consolidated financial results: 6 months ended 30.6.2023 and modification of B-BEE transaction
2023-07-18
ACL - Trading Statement and Business update for the six months ended 30 June 2023
2023-07-17
ACL - Resignation of Chief Financial Officer and Executive Director
2023-05-29
ACL - Results of the Annual General Meeting held on 25 May 2023
2023-05-02
ACL - Broad Based Black Economic Empowerment Act: Annual Compliance Report
2023-04-19
ACL - Notice of annual general meeting and salient dates
2023-04-06
Annual Financial Statements; Integrated Report; Environmental, Social and Governance Report and No Change Statement
2023-04-03
Appointment of Chief Financial Officer and Executive Director
2023-02-09
ACL - Short-Form Announcement - Group financial results for the year ended 31 December 2022
2023-01-24
ACL - Trading Statement and Business Update for the six months ended 31 December 2022
2022-09-14
ACL - Vesting and Settlement: Long Term Incentive Plan
2022-09-12
ACL - Settlement Agreement Update: Administrative Penalty
2022-08-16
ACL - 2022 Grant in terms of Long Term Incentive Plan
2022-08-12
Arcelormittal: 2022 Grant In Terms Of Long - Term Incentive Plan.
2022-07-28
ACL - Reviewed condensed consolidated financial results for the six months ended 30 June 2022
2022-07-20
ACL - Trading Statement and Business Update for the six months ended 30 June 2022
2022-05-26
ACL - Wage Dispute Resolved
2022-05-20
ACL: Results of the AGM held on 19 May 2022
2022-05-11
ACL - Annual Wage Negotiations Break Down