ArcelorMittal S.A. (NYSE:MT) Q4 2023 Earnings Conference Call February 8, 2024 9:30 AM ET

Company Participants

Daniel Fairclough – Investor Relations

Lakshmi Mittal – Executive Chairman

Aditya Mittal – Chief Executive Officer

Genuino Christino – Chief Financial Officer

Conference Call Participants

Alain Gabriel – Morgan Stanley

Tristan Gresser – BNP Paribas

Myles Allsop – UBS

Tom Zhang – Barclays

Maxime Kogge – Oddo

Moses Ola – JP Morgan

Timna Tanners – Wolfe Research

Patrick Mann – Bank of America

Bastian Synagowitz – Deutsche Bank

Andrew Jones – UBS

Daniel Fairclough

Good afternoon, everyone. This is Daniel Fairclough from the ArcelorMittal Investor Relations team. Thank you for joining this call to discuss our performance and progress in 2023. Present on the call today, we have Mr. Mittal, our Executive Chairman; our CEO, Aditya Mittal; and our CFO, Genuino Christino. Before we begin, I would like to mention a few housekeeping items. As usual, we will not be going through the results presentation that we published this morning on our website, but I do want to draw your attention to the disclaimers on Slide 2 of that presentation. We will be moving directly to the Q&A session following some opening remarks. So if you would like to ask a question, then please do press star one on your keypad to join the queue.

With that, I will hand over to Mr. Mittal to begin the opening remarks.

Lakshmi Mittal

Thank you, Daniel, and welcome, everyone. We are working tirelessly to improve our safety performance and I’m convinced that we are on the right pathway. We must achieve our target of zero facilities -- fatalities and serious injuries as quickly as possible. Against the backup of a challenging economic and geopolitical environment, our financial results in 2023 are commendable. This shows the benefits of the actions we have been taking in recent years to structurally improve our business. Destocking is showing signs of coming to an end, and we are predicting growth this year in our core markets. Interest rates have peaked and there is a confidence they will come down this year. Inflation has already started to ease and energy prices have retreated from record highs. I look to ArcelorMittal’s future with great optimism. Our asset portfolio is lean and focused. Our recent acquisitions are performing strongly and the capital projects in which we have been investing will soon begin making a significant contribution to our regions. I want to thank this opportunity to thank all our employees for their efforts and contributions.