Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 356

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 356
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 recognized goodwill of 57 , which is primarily attributable to the expected synergies and other benefits from combining the activities of the Sustainable Solutions acquisitions with those of the Company. Goodwill is not deductible for income tax purposes. Revenue and net loss since acquisition date till December 31, 2023 were 87 and 4 , respectively. Revenue and net income attributable to the equity holders of the parent of the Company for the twelve months ended December 31, 2023 were 68,579 and 910 , respectively, as though ArcelorMittal had completed the ArcelorMittal Pecém and Sustainable Solutions acquisitions as of January 1, 2023. During 2022, among others, the Company completed the acquisition of three specialist scrap metal recyclers as the Company continually seeks to enhance its ability to source scrap steel, a key raw material which supports the ArcelorMittal’s ability to reduce its carbon emissions from steelmaking in both the EAF and BF-BOF routes. On February 28, 2022, ArcelorMittal acquired John Lawrie Metals Limited ("JLM"), a UK based leading consolidator of ferrous scrap metal, for total consideration of £ 35million ( 43 net of cash acquired of 5 ). The Company completed its measurement of the acquisition-date fair value of the identifiable asset and liabilities of JLM. Revenue and net income since acquisition date till December 31, 2022 were 49 and 3 , respectively. JLM is part of the Sustainable Solutions reportable segment. On May 2, 2022, ArcelorMittal completed the acquisition of Architectural Steel Limited ("ASL"), a UK based manufacturer of bespoke metal fabrications and flashings for building envelopes to strengthen the construction business within the Sustainable Solutions reportable segment. Total consideration was £ 36million ( 39 net of cash acquired of 6 ). The Company completed its measurement of the acquisition-date fair value of the identifiable asset and liabilities of ASL. Revenue and net income since acquisition date till December 31, 2022 were 14 and 3 , respectively. On May 9, 2022, in order to strengthen the Company's plate operations in the Sustainable Solutions reportable segment in selected downstream and distribution activities, ArcelorMittal increased its interest in the former associate Centro Servizi Metalli S.p.A. ("CSM"), a stainless plate processing business with operations mainly in Italy and Poland, from 49.29% to 91.68% through the