International steel corporation ArcelorMittal reflected in its quarterly financial report for the third quarter of 2026 more than $1.1 billion in write-downs and exceptional expenses related to the shutdown of the Ukrainian enterprise "ArcelorMittal Kryvyi Rih". An additional tax adjustment brought the total impact of these items to $1.315 billion.

This is stated in ArcelorMittal's quarterly financial report published on November 5.

Directly due to the cessation of operations at the Kryvyi Rih plant, the company recognized two main types of expenses totaling $1.145 billion:

  • $852 million - impairment of assets of the Ukrainian enterprise;
  • $293 million - exceptional expenses related to the suspension of its operating activities.

In addition, ArcelorMittal recorded a reduction in deferred tax assets by $170 million in connection with the halt of Ukrainian operations. Thus, the total amount of these accounting write-downs, exceptional expenses, and tax adjustments amounted to $1.315 billion.

It is important that this amount does not represent an actual cash loss for the enterprise in a single quarter. A significant part consists of asset revaluations in the corporation's financial statements.

For July-September 2026, ArcelorMittal reported a net loss of $391 million, compared to a net profit of $683 million in the second quarter. In the third quarter of 2025, net profit was $377 million.

The corporation's operating result also turned negative: a loss of $131 million versus a profit of $1.055 billion in April-June. Meanwhile, quarterly revenue decreased by 1.8% to $16.47 billion.

The company emphasized that the deterioration of the reported result was largely due to one-off write-downs and exceptional expenses related to the Ukrainian enterprise. Excluding these items and corresponding adjustments, ArcelorMittal's net profit would have been $868 million, compared to $683 million in the previous quarter.

The group's EBITDA for the third quarter reached $2.023 billion, compared with $2.064 billion in the second quarter. Thus, the ongoing operating activities of other enterprises of the corporation remained profitable.

Recall that on September 25, ArcelorMittal announced that it could not safely and stably resume operations at the steel plant in Kryvyi Rih. The reasons were numerous Russian missile strikes, damage to production facilities, deterioration of the security situation, and serious logistics problems.

The company explained that since the beginning of the full-scale invasion it had continued to support the Ukrainian business despite increasingly difficult conditions. However, after the latest attacks, the risks to employees and production became unacceptable.

Since the start of the war, ArcelorMittal has provided over $700 million in financial support to ensure the operation and preservation of the Ukrainian enterprise.

According to the new quarterly report, the corporation plans to limit financing of Ukrainian operations going forward. Major expenses, particularly in the fourth quarter of 2026, will be directed to asset preservation, site security, and compliance with environmental requirements.

At the same time, ArcelorMittal does not rule out the possibility of resuming production in the future. The company intends to maintain the facility in a state that would allow considering a restart once security conditions improve.

"ArcelorMittal Kryvyi Rih", formerly "Kryvorizhstal", is one of the largest metallurgical enterprises in Ukraine. Its shutdown matters not only for the financial results of the international corporation but also for the industry and economy of Kryvyi Rih.

Based on materials from: ArcelorMittal