Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 208

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 208
---
NS India experienced a negative price-cost effect in 2024 compared to 2023 including a lower benefit from natural gas hedges . AMNS India production increased by 11.5% from 6.7 million tonnes in 2022 to 7.5 million tonnes in 2023, and shipments increased by 12.1% from 6.5 million tonnes in 2022 to 7.3 million tonnes in 2023. Crude steel production and steel shipments of AMNS India increased by 4.7% and 8.2% , respectively, from 3.4 million tonnes in the first half of 2022 to 3.6 million tonnes in the first half of 2023 and from 3.2 million tonnes in the first half of 2022 to 3.5 million tonnes in the first half of 2023, respectively. Crude steel production and steel shipments of AMNS India increased by 18.8% and 15.7% , respectively, from 3.3 million tonnes in the second half of 2022 to 3.9 million tonnes in the second half of 2023 and from 3.2 million tonnes in the second half of 2022 to 3.7 million tonnes in the second half of 2023, respectively. Sales decreased by 7.9% from $7.3 billion in 2022 to $6.7 billion in 2023. Sales decreased by 17.9% from $4.0 billion in the first half of 2022 to $3.3 billion in the first half of 2023. Sales increased 4.4% from $ 3.2 billion in the second half of 2022 to $ 3.4 billion in the second half of 2023 . AMNS India’s results in the second half of 2023 also reflected the unwinding of a natural gas hedges .

111

| Management report |

| AMNS Calvert                                  |                                            |       |       |
|                                               | Performance for the yearended December 31, |       |       |
| (in millions of USD unless otherwiseshown)    |                                       2024 |  2023 |  2022 |
| HSM production (100% basis) (thousandtonnes)  |                                      4,496 | 4,654 | 4,320 |
| Steel shipments (100% basis) (