Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 200

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 200
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 average steel selling prices. In the second half of 2024, sales increased by 2.5% to $ 14.3 billion as compared to $13.9 billion in the second half of 2023, primarily due to 9.2% higher steel shipments offset in part by t he 11.4% decline in average steel selling prices . Sales in the Europe segment were $31.7 billion for the year ended December 31, 2023, representing a 20.0% decrease as compared to sales of $ 39.6 billion for the year ended December 31, 2022, primarily due to a 14.0% decrease in average steel selling prices and 7.2% lower steel shipments. In the first half of 2023, sales decreased by 20.6% to $ 17.8 billion as compared to $ 22.4 billion in the first half of 2022, primarily due to a 15.9% decrease in average steel selling prices and 8.4% lower steel shipments . In the second half of 2023, sales decreased by 19.4% to $ 13.9 billion as compared to $ 17.3 billion in the second half of 2022, primarily due to a 11.2% decrease in average steel selling prices and 5.8% lower steel shipments . Operating income Operating income for the Europe segment for the year ended December 31, 2024 was $ 386 million as compared to operating income of $879 million for the year ended December 31, 2023. Operating income was negatively impacted by $ 36 million impairment charges of property, plant and equipment and $74 million restructuring charges in connection with the closure of the Kraków coke plant in Poland. Operating income was lower in 2024 primarily due to a negative price-cost effect driven by a decline in selling prices offset in part by lower costs, and higher shipment volumes. Operating income in the first half of 2024, was $ 263 million, as compared to $ 744 million for the first half of 2023, primarily due to a negative price-cost effect (as the decline in selling prices exceeded the decline in costs) . O perating income was lower at $ 123 million for the second half of 2024 as compared to $135 million for the second half of 2023 impacted by the impairment and restructuring charges described above. Operating income for the Europe segment for the