Sign in

    Dominic O'Kane • JPMorgan Chase & Co.

    Dominic O'Kane's questions to ArcelorMittal SA (MT) leadership

    Dominic O'Kane's questions to ArcelorMittal SA (MT) leadership • Q2 2025

    Question

    Dominic O'Kane asked what ArcelorMittal would consider an 'acceptable' outcome for the EU safeguard review and inquired about the company's long-term decarbonization CapEx plans in Europe.

    Answer

    EVP & CFO Genuino Christino stated the industry is requesting import quotas be limited to a ~15% market share, a significant reduction from the 27% seen in 2024. On decarbonization, he described a gradual, long-term transition contingent on supportive policies, noting they are prepared for significant investments at facilities like Dunkirk and are already spending ~$300 million annually on related projects.

    Ask Fintool Equity Research AI

    Dominic O'Kane's questions to ArcelorMittal SA (MT) leadership • Q2 2025

    Question

    Dominic O'Kane of JPMorgan Chase & Co. asked about ArcelorMittal's desired outcome for the revision of European steel safeguards and whether the Dunkirk restart signaled market confidence. He also requested an update on the company's long-term decarbonization capital expenditure plans in Europe.

    Answer

    EVP & CFO Genuino Christino stated the industry seeks to limit imports to a ~15% market share via revised safeguards. He clarified the Dunkirk restart was a scheduled maintenance event, not a market call. On decarbonization, he reiterated that significant investment is contingent on supportive government policies, while highlighting ~$300 million in current-year spending on projects like the new EAF in Spain.

    Ask Fintool Equity Research AI

    Dominic O'Kane's questions to ArcelorMittal SA (MT) leadership • Q4 2024

    Question

    Dominic O'Kane inquired about the evolution of order books in Europe and the U.S., the potential size of working capital optimization in 2025, and the timeline and cost to return the Ukraine plant to production.

    Answer

    CEO Aditya Mittal stated the Ukraine facility is currently operating at 30% capacity and is cash-flow negative, but could reach cash breakeven by doubling utilization to around 3 million tonnes. Further ramp-up would require CapEx. CFO Genuino Christino noted that European order books for Q1 are nearly full, with the market awaiting trade actions. He expects a working capital release in 2025 but did not quantify the amount.

    Ask Fintool Equity Research AI

    Dominic O'Kane's questions to ArcelorMittal SA (MT) leadership • Q2 2024

    Question

    Dominic O'Kane asked about the risk of a CapEx underspend in the second half of the year against the full-year guidance. He also inquired about current lead times in the U.S. and Europe and how quickly those markets could tighten with an interest rate cutting cycle.

    Answer

    Group CFO Genuino Christino confirmed the company is retaining its full-year CapEx guidance of $4.5 billion to $5.0 billion, viewing the lower H1 spend as a matter of timing. He noted that lead times in the U.S. and Europe are currently short, which is typical in a weak market, but acknowledged they can extend very rapidly when demand rebounds.

    Ask Fintool Equity Research AI

    Dominic O'Kane's questions to Outokumpu Oyj (OUTKY) leadership

    Dominic O'Kane's questions to Outokumpu Oyj (OUTKY) leadership • Q1 2025

    Question

    Dominic O'Kane of JPMorgan Chase & Co. asked for more details on how Outokumpu intends to redeem its convertible bond maturing in July.

    Answer

    CFO Marc-Simon Schaar responded that the company's current base case scenario is that the convertible bond will convert in July of this year.

    Ask Fintool Equity Research AI