Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 196

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 196
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 compared to $13.2 billion for the year ended December 31, 2023, primarily due to 13.1% lower average steel selling prices offset in part by 2.9% higher steel shipments. In the first half of 2024, sales decreased 8.7% to $ 6.3 billion as compared to $ 6.9 billion for the first half of 2023 primarily due to 13.8% lower average steel selling prices offset in part by 4.6% higher steel shipments. Sales in the Brazil segment in the first half of 2024 was also impacted by the devaluation of the Argentinian peso. In the second half of 2024, sales decreased 2.6% to $ 6.1 billion as compared to $ 6.3 billion for the second half of 2023, driven by lower average steel selling prices offset in part by the 1.5% increase in shipments. Sales decreased 4.1% to $ 13.2 billion for the year ended December 31, 2023 as compared to $13.7 billion for the year ended December 31, 2022, primarily due to 15.7% lower average steel selling prices offset in part by 18.8% higher steel shipments, mainly due to the impact of ArcelorMittal Pecém. In the first half of 2023, sales decreased 6.2% to $ 6.9 billion as compared to $ 7.4 billion for the first half of 2022 primarily due to 12.8% lower average steel selling prices offset in part by 8.0% higher steel shipments (including ArcelorMittal Pecém). In the second half of 2023, sales decreased 1.8% to $ 6.3 billion as compared to $ 6.4 billion for the second half of 2022, driven by

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| Management report |

an 18.1% decrease in average steel selling prices and the devaluation of the Argentinian peso, offset by a 30.8% increase in shipments. Operating income Operating income for the Brazil segment was $ 1.4 billion for the year ended December 31, 2024, representing a 4.2% decrease as compared to $1.5 billion for the year ended December 31, 2023, Operating income included a $43 million impairment charge relating to write