安博科-匹兹堡 2024年度报告

2024 Annual Report on Form 10-K LETTERTO SHAREHOLDERS 2024 has been a year of considerabla e progress forff Ampcm o-PittsburghuuCorporation, as we achieved ourhighest operating income since thetacquisiqqtion of Åkers Group in 2016. These improved results wereachieved despite challenging global steel market conditions, including depressed European demand thathas led to underutrr ilization of our assets in Sweden and more significff antly in the U.K. In our Forged and Cast Engineered Producd ts (“FCEP”) segment, while revenuennwas slightly lower thanthe prior year due to the headwinds mentioned above, we delivered a strott ng 38% improvement inoperating income. This performance reflects our su uccessful execution of strategic initiatives and thepartial benefitff s froff m our recently installed equipment in the U.S., positioning us well forff continuedgrowth moving forff ward. Our Air and Liquid Processing (“ALP”) segment once again delivered a record-setting sales performancaa e.With the completion of our capacity expansion and efficff iency improvements, ALP is poised to captureadditional markaa et share and deliver sustained growth. Furthermorrre, Navy-fundeud equipment installationswill enhancaa e our capabilities and contritt bute to long-term growth and operational efficff iencies. Looking ahead to 2025, we remain focff used on two primary srrtrategic objeb ctives: optimizing theunderutilized FCEP assets in Europe, which have hindered our earnings potential for several years, anddriving continued growth in ALP by improving efficiencies and capitalizing on the increasing demandfrom its defenff se, nuclear, and industritt al markaa ets. Our team has worked tirelessly to imprm ove operations, and I want to take this opportunity to express mysincere gratitude to every employee forff their dedication. I also thank our Board of Directors andshareholders for your ouu ngoing suppourt. While we are encouraged with our improvements in 2024, we remain focused on delivering superiorreturnuu s to our shareholders. We are committed to driving continuous improvement, ensuring that Ampco-Pittsburguu h remains well-positioned for success in the futff ure. Sincerely, J. Brett McBrayerChief Executive Offiff cerAmpco-Pittsburgh Corporation Thisletter to shareholderd s crr ontains forff warrrd-ld ooking stattt ements as define ed under U.SUU. fedff erdd alrr securities laws.wwAccordingly, attention is directed to the section entitled “ForFF ward-Ldd ooking Stattt ements” in Ampco-Pittsburgh’gg sAnnual Report on Form 10-K forffthe year endedddDecember 31, 2024. UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549FORM 10-K ☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024OR ☐TRANSRRITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period fromtoCommission File Number 1-898AMPCO-PITTSBURGH CORPORATION Pennsylvania(State of Incorporation) 25-1117717(I.R.S. Employer Identificff ation No.) 726 Bell Avenue, Suite 301Carnegie, Pennsylvania 15106(Address of principal executive offiff ces)(412) 456-4400(Registrant’s telephone number)Securities registered pursuant to Section 12(b) of the Act:Trading Symbol(s)Name of each exchange on which registered Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as definff ed in Rule 405 of the Securities Act.Yes☐No☒ Indicate by check mark if the registrant is not required to filff e reports pursuant to Section 13 or Section 15(d) of the Act.Yes☐No☒ Indicate by check mark whether the Registrant (1) has filed all reports required to be fileff d by Section 13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 12 months (or forff such shorter period that the Registrant was required to fileffsuch reports), and (2) has been subju ect to such filing requirements forff the past 90days.Yes☒No☐ Indicate by check mark whether the Registrant has submitted electronically every Irr nteractive Data File required to be submitted pursuant to RulRR e 405 of Regulation S-T(§ 232.405 of this chapter) during the preceding 12 months (or such shorter period that the registrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerginggrowth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 ofthe Exchange Act. Large accelerated fileff r☐Accelerated filer☐Non-accelerated filer☒Smaller reporting company☒Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forff complying with any new or revisedfinancial