SENS-AI
ACL Trading Statement Bearish

ARCELORMITTAL SOUTH AFRICA LIMITED - Trading statement for the six months ended 30 June 2026

ArcelorMittal South Africa Limited
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What this filing means

Losses deepen materially at ArcelorMittal South Africa. The group expects basic EPS loss of R1,10–R1,14 for H1 2026 versus an 84c loss a year earlier, and headline EPS loss of R1,32–R1,37 versus a 91c loss — a 45%–51% deterioration in HEPS.

Bull case

  • The narrow EPS loss band of R1.10–R1.14 — only 4 cents wide — caps the magnitude of the downside surprise ahead of the formal results.
  • The HEPS loss range of R1.32–R1.37 bounds deterioration to a defined window, capping the worst-case rather than an open-ended slide.

Bear case

  • HEPS deterioration of 45–51% is steep — the loss widens by more than half a rand per share versus the prior comparable period, signalling meaningful operating pressure.
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Category
Trading Statement
Event posture
Bearish Continuation
Published
Jul 29, 2026

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