Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 192

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 192
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 partially offset by the 9.4% increase in steel shipments. Operating income Operating income for the North America segment decreased by 31.7% to $ 1.3 billion for the year ended December 31, 2024, compared to $1.9 billion for the year ended December 31, 2023, mainly due to 4.7% lower steel shipments and a negative price- cost effect, including higher costs related to the above mentioned illegal blockade action in Mexico. In the first half of 2024, o perating income was $ 923 million, as compared to $ 1,117 million in the first half of 2023. Operating income decreased by 51.6% in the second half of 2024 as compared to the second half of 2023. Operating income decreased by 32.0% to $ 1.9 billion for the year ended December 31, 2023, compared to $ 2.8 billion for the year ended December 31, 2022, mainly due to negative price- cost effect driven by lower average steel selling prices offset in part by higher steel shipments. In the first half of 2023, o perating income for the North America segment was $ 1,117 million, as compared to $ 1,871 million in the first half of 2022, mainly driven by a significant negative price-cost effect offset in part by higher steel shipments and the contribution from ArcelorMittal Texas HBI . Operating income for the North America segment in the second half of 2023 decreased by 15.5% , as compared to the second half of 2022, mainly due to negative price-cost effect partially offset by an increase in steel shipments. The second half of 2022 includes a $0.1 billion bargain purchase gain on the acquisition of ArcelorMittal Texas HBI and a $0.1 billion gain following the settlement of a claim by ArcelorMittal for a breach of a supply contract.

| Brazil                                     |                                            |     |        |     |        |
|                                            | Performance for the yearended December 31, |     |        |     |        |
| (in millions of USD unlessotherwise shown) |                                       2024 |     |   2023 |     |   2022 |
| Sales                                      |                                     12,401 |     | 13,163 |     | 13,732 |
| Depreciation