ArcelorMittal Flags $1 Billion Impairment, Halts Ukrainian Operations After Missile Strikes

05:47 AM EDT, 09/25/2026 (MT Newswires) -- ArcelorMittal (MT.AS, MTS.MC) expects to book a $1 billion impairment charge following a recent series of missile strikes at its subsidiary in Ukraine that caused casualties and extensive damage to production facilities. The non-cash impairment charge largely reflects damage to property, plant and equipment at the steel producer's Kryvyi Rih site, which suffered four missile strikes over the past five weeks, most recently on Monday, the company said in a Friday release. ArcelorMittal noted that it can no longer safely and sustainably resume operations at the plant after the attacks, which resulted in a total of five fatalities and 17 injured employees. "Since the war started, our people in Ukraine have worked tirelessly to keep the mines and plant operating. They have been the embodiment of bravery, in circumstances most of us cannot begin to imagine," said Mauro Longobardo, ArcelorMittal Kryvyi Rih's chief executive officer. "We are discussing the future of the plant with the Government of Ukraine and will focus on preserving the infrastructure, so when peace finally returns, options for restarting production remain available." ArcelorMittal has provided more than $700 million to its Ukrainian unit since the outbreak of the Russia-Ukraine war in February 2022 to ensure the plant's operations can continue, alongside the implementation of various local support measures for its Kryvyi Rih workers and their families. ArcelorMittal shares were up over 2% in Amsterdam and Madrid as of midday.