ArcelorMittal South Africa (AMSA) on Monday said it was forecasting headline earnings per share to decline to a loss within a range R4.50 and R4.66 loss per share for the year ended 31 December 2024, representing a decrease of between 165% to 174%.
This is reviewed upwards from a previously expected loss of R4.06 and R4.41 per share previously forecast last month, which would have represented a decrease of between 139% to 159%, from a R1.70 loss per share for the comparable period.
The troubled steelmaker also said earnings per share to decline from a loss of R3.52 per share to a loss within a range of R5.14 and R5.34 loss per share for the period, representing a decrease of between 46% to 52%.
Previously, AMSA was expecting earnings per share to decline between between 56% to 76% to a loss within a range of R5.48 and R6.21 loss per share, from a loss of R3.52 per share for the comparable period.
The financial information on which AMSA’s trading statement is based has not been reviewed and reported on by the company's external auditors.
AMSA reviewed condensed consolidated financial statements for the year ended 31 December 2024 are expected to be released on SENS on Thursday, 6 February 2025, with a virtual presentation on the same day.
BUSINESS REPORT