ArcelorMittal expects European profits to recover after EU action

Steel giant ArcelorMittal says it is more positive about its future in Europe after new European Union measures to protect the industry.

The Luxembourg-based group reported a 2025 net profit of $3.15 billion, more than double the year before, although sales slipped slightly because of lower steel prices. It said EU steps such as tougher import limits, higher tariffs and a carbon border tax should improve the long-term outlook for European steelmakers.

Chief executive Aditya Mittal said the changes could “restore profitability” at European plants, with clearer results expected from the second half of 2026 and into 2027. The company, which has a major factory in Ghent, believes fewer cheap imports will mean higher use of its existing sites and better returns on investment.

ArcelorMittal plans to invest $4.5-5 billion in 2026, slightly more than this year, but has not yet said whether it will restart paused green projects in Europe. The group has also warned that support roles in several European countries could be moved to India, potentially affecting thousands of jobs.

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