Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 35

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 35
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 the Company’s ability to maintain operations, disrupt the provision of services, result in a loss of confidence in the Company’s security measures, subject it to litigation, civil or criminal penalties, regulatory actions (e.g., under the EU’s General Data Protection Regulation) or adverse publicity, any of which could adversely affect its financial condition and results of operations. IV. Risks related to ArcelorMittal’s acquisitions and investments ArcelorMittal has grown through acquisitions and may continue to do so. Failure to manage external growth and difficulties completing planned acquisitions or integrating acquired companies could harm ArcelorMittal’s future results of operations, financial condition and prospects. The Company has made several large acquisitions in recent years. To the extent ArcelorMittal continues to pursue significant acquisitions, the associated financing may (depending on the structure) result in increased debt, leverage and gearing. Acquisitions also entail increased operating costs, as well as greater allocation of management resources away from daily operations. Managing acquisitions requires the continued development of ArcelorMittal’s financial and management information control systems, the integration of acquired assets with existing operations, the adoption of manufacturing best practices, handling any labor disruptions that may arise, attracting and retaining qualified management and personnel as well as the continued training and supervision of such personnel, and the ability to manage the risks and liabilities associated with the acquired businesses. Acquisitions also have resulted, and may in the future result, in subsequent disputes or financial liabilities, including in respect of put options granted to selling shareholders over a retained minority stake. See note 9.3 to the consolidated financial statements for further information. In addition, acquisitions may entail future capital expenditures, either as a condition or in order to realize synergies, operational efficiencies or strategic benefits. Such capital expenditure may not provide the anticipated return on investment. More generally, failure to manage acquisitions could have a material adverse effect on ArcelorMittal’s business, financial condition, results of operations or prospects. ArcelorMittal is currently and in the future may be subject to legal proceedings or other proceedings, including in relation to its interest in ADI, the resolution of which could negatively affect the Company’s profitability and cash flows in a particular period. ArcelorMittal’s profitability or cash flows in a particular period could be affected by adverse rulings in current and future legal proceedings against the Company. See note 9.3 to the consolidated financial statements. In April 2021, ArcelorMittal and Invitalia, an Italian state-owned company, formed a public-private partnership, ADIH,