Investments in associates
SHARES IN MATERIAL ASSOCIATES
Following the sale of 80 % of its equity interest in the ArcelorMittal Texas HBI Group (formerly the voestalpine Texas Group), domiciled in the State of Delaware, USA, voestalpine now holds a 20 % share and exercises significant influence over this company and its subsidiary. This investment is accounted for using the equity method.
The deal was closed on June 30, 2022. Control was transferred to the buyer as of said date. This was followed by the deconsolidation of the subsidiary and its initial recognition as an associate. The ArcelorMittal Texas HBI Group operates a direct reduction plant and supplies hot briquetted iron (HBI) to the voestalpine Group. The company is not a listed entity.
The following tables present the financial data on the ArcelorMittal Texas HBI Group.
|
|
ArcelorMittal Texas HBI Group |
||
|---|---|---|---|---|
|
|
03/31/2025 |
|
09/30/2025 |
|
|
|
|
|
Non-current assets |
|
349.1 |
|
292.0 |
Current assets |
|
367.8 |
|
391.0 |
Non-current liabilities |
|
32.0 |
|
29.5 |
Current liabilities |
|
77.5 |
|
72.6 |
Net assets (100 %) |
|
607.4 |
|
580.9 |
|
|
|
|
|
In millions of euros |
||||
|
|
ArcelorMittal Texas HBI Group |
||
|---|---|---|---|---|
|
|
04/01– |
|
04/01– |
|
|
|
|
|
Revenue |
|
296.2 |
|
288.7 |
|
|
|
|
|
Profit after tax |
|
−24.6 |
|
10.5 |
Profit after tax (20 %) |
|
−4.9 |
|
2.1 |
Other comprehensive income |
|
−2.9 |
|
−7.4 |
Periodic update of PPA |
|
2.1 |
|
2.3 |
Comprehensive income (20 %) |
|
−5.7 |
|
−3.0 |
|
|
|
|
|
Proportional dividends received |
|
0.0 |
|
0.0 |
|
|
|
|
|
In millions of euros |
||||
|
|
ArcelorMittal Texas HBI Group |
||
|---|---|---|---|---|
|
|
03/31/2025 |
|
09/30/2025 |
|
|
|
|
|
Net assets, closing balance |
|
607.4 |
|
580.9 |
Group’s 20 % share of net assets |
|
121.5 |
|
116.2 |
Goodwill incl. net exchange differences |
|
3.1 |
|
2.9 |
Impairment incl. net exchange differences |
|
−31.8 |
|
−29.3 |
Carrying amount of the Group’s investment |
|
92.8 |
|
89.8 |
|
|
|
|
|
In millions of euros |
||||