UNITED STATES OF AMERICA SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR GROUP SIMEC (Translation of registrant's name into English) UNITED MEXICAN STATES (Jurisdic ...

Financial Performance - Net sales increased by 55% from Ps. 35,869 million in 2020 to Ps. 55,620 million in 2021, driven by higher shipments and a 51% increase in average sales price[2] - Gross profit increased to Ps. 15,652 million in 2021, representing 28% of net sales, up from 19% in 2020[4] - Operating income surged by 161% from Ps. 5,185 million in 2020 to Ps. 13,532 million in 2021, with operating income as a percentage of net sales rising from 14% to 24%[7] - EBITDA increased by 122% to Ps. 14,707 million in 2021, compared to Ps. 6,637 million in 2020[8] - Net income rose by 238% from Ps. 2,798 million in 2020 to Ps. 9,444 million in 2021[12] - Total sales for the year 2021 reached Ps. 55,620 million, a 55% increase from Ps. 35,869 million in 2020[40] - Gross profit for 2021 was Ps. 15,652 million, representing a 135% increase from Ps. 6,657 million in 2020[40] - The company’s net income for the full year 2021 was Ps. 9,444 million, a 238% increase from Ps. 2,798 million in 2020[40] Sales and Shipments - Shipments of finished steel products rose by 3% to 2,504 thousand tons in 2021 compared to 2,441 thousand tons in 2020[2] - Total sales outside of Mexico increased by 55% to Ps. 27,576 million in 2021, while total sales in Mexico also rose by 55% to Ps. 28,044 million[2] - Total revenue for Grupo Simec in Q4 2021 reached Ps. 55,620,356 thousand, with domestic sales contributing Ps. 28,044,620 thousand and foreign sales contributing Ps. 19,072,122 thousand[152] Costs and Expenses - Cost of sales increased by 37% to Ps. 39,968 million in 2021, with cost of sales as a percentage of net sales decreasing from 81% in 2020 to 72% in 2021[3] - Selling, general and administrative expenses increased by 1% to Ps. 2,043 million in 2021, representing 4% of net sales[5] - The company incurred finance costs of 87,445 thousand pesos, a decrease from 416,910 thousand pesos in the previous year, reflecting a reduction of 79.0%[51] Profitability Metrics - Basic earnings per share for the current year were 20.41 pesos, a substantial rise from 5.94 pesos in the previous year, representing an increase of 244.4%[51] - Profit before income tax for the current year reached 13,835,636 thousand pesos, a significant increase from 4,875,927 thousand pesos in the previous year, representing a growth of approximately 184%[55] - Comprehensive financial cost improved to a net income of Ps. 304 million in 2021, compared to a net expense of Ps. 309 million in 2020[10] Cash Flow and Assets - Net cash flows from operating activities amounted to 8,387,332 thousand pesos, compared to 3,633,875 thousand pesos in the previous year, indicating a year-over-year increase of about 131%[55] - Cash flows from investing activities showed a net outflow of 1,009,673 thousand pesos, which is a decrease from the previous year's outflow of 832,671 thousand pesos[55] - The company reported a net increase in cash and cash equivalents of 7,215,717 thousand pesos, up from 715,474 thousand pesos in the previous year, reflecting a growth of over 909%[55] - Total assets at the end of Q4 2021 were Ps. 57,342,572 thousand, up from Ps. 45,438,156 thousand at the end of the previous year[44] Equity and Shareholder Information - Total equity increased to 41,962,528 thousand pesos from 33,181,119 thousand pesos, reflecting a growth of 26.5%[51] - The company repurchased shares worth 74,497 thousand pesos during the year, compared to 41,984 thousand pesos in the previous year, indicating an increase in share repurchase activity[57] - Total equity attributable to owners of the parent at the end of the year was 33,145,109 thousand pesos, an increase from 32,584,977 thousand pesos at the end of the previous year[59] Employee and Operational Metrics - The number of employees increased to 1,890 from 1,763, showing a growth of 7.2%[46] - The company reported a total of 2,504 sales transactions across various product lines in Q4 2021[152] Financial Reporting and Accounting Policies - The functional currency for the company is the Mexican peso, with U.S. subsidiaries using the U.S. dollar and Brazilian subsidiaries using the Brazilian real for financial reporting[82][83] - The company follows a practice of estimating allowances for doubtful accounts based on customer balances over one year old, which may lead to material differences in future results[86] - Inventories are recorded at the lower of acquisition cost and market value, with a reserve for slow-moving inventory established for products not consumed within one year[87][88] - Property, plant, and equipment are recorded at cost less impairment losses, with estimated useful lives ranging from 3 to 65 years depending on the asset type[90] Financial Instruments and Risk Management - The Company uses derivative financial instruments to manage exposure to natural gas price fluctuations, recognizing gains or losses immediately unless designated as hedging instruments[131] - The Company assesses the effectiveness of hedging instruments, considering them highly effective if they offset 80% to 125% of the changes in fair value or cash flows[135]

Financial Performance - Net sales increased by 55% from Ps. 35,869 million in 2020 to Ps. 55,622 million in 2021, driven by a 51% increase in average sales price and a 3% increase in shipments of finished steel products [2]. - Gross profit rose to Ps. 15,498 million in 2021, representing 28% of net sales, compared to Ps. 6,657 million and 19% in 2020 [4]. - Operating income surged by 158% from Ps. 5,185 million in 2020 to Ps. 13,380 million in 2021, with operating income as a percentage of net sales increasing from 14% to 24% [7]. - EBITDA increased by 119% to Ps. 14,542 million in 2021, compared to Ps. 6,637 million in 2020 [8]. - Net income rose by 246% from Ps. 2,957 million in 2020 to Ps. 10,227 million in 2021 [12]. - Total sales for the year 2021 were Ps. 55,622 million, a 55% increase from Ps. 35,869 million in 2020 [37]. - Gross profit for 2021 was Ps. 15,498 million, reflecting a 133% increase from Ps. 6,657 million in 2020 [37]. - Operating profit for the current year was 13,380,451 thousand pesos, compared to 5,185,011 thousand pesos in the previous year, marking an increase of around 158% [45]. - Net profit for the current year was 10,226,971 thousand pesos, compared to 2,957,393 thousand pesos in the previous year, indicating an increase of about 245% [44]. Cost and Expenses - Cost of sales increased by 37% from Ps. 29,212 million in 2020 to Ps. 40,124 million in 2021, with cost of sales as a percentage of net sales decreasing from 81% to 72% [3]. - Selling, general and administrative expenses increased by 3% to Ps. 2,087 million in 2021, representing 4% of net sales compared to 6% in 2020 [5]. - The average cost of finished steel produced increased by 34% in 2021, primarily due to higher scrap costs and supply costs [3]. Quarterly Performance - Operating income for Q4 2021 was Ps. 3,009 million, a significant increase from an operating profit of Ps. 1,401 million in Q4 2020, representing a change from an operating loss of 14% to a profit margin of 23% [31]. - Net income for Q4 2021 was Ps. 1,937 million, compared to a net loss of Ps. 498 million in Q4 2020, marking a turnaround in profitability [36]. - EBITDA for Q4 2021 reached Ps. 3,285 million, up 73% from Ps. 1,895 million in Q4 2020 [33]. Sales and Revenue - Total sales outside of Mexico increased by 55% to Ps. 27,576 million in 2021, while total sales in Mexico also increased by 55% to Ps. 28,046 million [2]. - Sales outside Mexico for 2021 were Ps. 27,576 million, also reflecting a 55% increase from Ps. 17,746 million in 2020 [37]. - Total income for Grupo Simec in Q4 2021 reached 55,621,967 thousand pesos, with domestic sales contributing 28,046,231 thousand pesos and foreign sales contributing 19,072,122 thousand pesos [141]. Assets and Equity - The company recorded a total asset value of Ps. 56,693,608 million at the end of the current quarter, up from Ps. 45,438,156 million the previous year [40]. - Total equity increased to 42,623,005 thousand pesos from 33,181,119 thousand pesos, showing a growth of about 28% [44]. - Total equity attributable to owners of the parent increased to 33,145,109 thousand pesos, up from 32,609,777 thousand pesos, reflecting a growth of approximately 1.6% [50]. Cash Flow and Investments - Cash and cash equivalents increased to Ps. 15,150,368 million, compared to Ps. 7,727,698 million in the previous year [40]. - Cash flows from operating activities showed a net outflow of 6,145,903 thousand pesos, compared to an outflow of 2,652,315 thousand pesos in the previous year, indicating a worsening cash flow situation [48]. - Net cash flows from investing activities were negative at 1,300,539 thousand pesos, increasing from a negative 832,671 thousand pesos in the previous year, reflecting higher investments in property, plant, and equipment [48]. - The company reported a net increase in cash and cash equivalents of 7,235,173 thousand pesos, up from 715,474 thousand pesos in the previous year, indicating improved liquidity [49]. Shareholder Actions - The company repurchased 35,128,483 shares during the current period, compared to 34,465,803 shares in the previous period [42]. - The company repurchased shares worth 74,497 thousand pesos during the year, compared to 41,984 thousand pesos in the previous year, indicating a strategy to enhance shareholder value [49]. - The company reported a basic earnings per share of 20.55 for the current quarter, compared to 5.94 in the same quarter last year, representing an increase of approximately 247% [44]. Financial Management - Comprehensive financial cost improved to a net income of Ps. 283 million in 2021 from a net expense of Ps. 309 million in 2020 [10]. - Comprehensive financial cost for Q4 2021 was a net income of Ps. 58 million, a significant improvement from a net expense of Ps. 1,288 million in Q4 2020 [34]. - The total liabilities to total assets ratio was maintained below 0.60, reflecting prudent financial management [138]. Compliance and Reporting - The financial statements were prepared under International Financial Reporting Standards (IFRS), ensuring compliance and transparency in financial reporting [54]. - The company recognizes provisional amounts for business acquisitions that are not completed by the end of the reporting period, allowing for adjustments based on new information obtained during the valuation period [67]. Employee and Operational Metrics - The number of employees increased to 1,890 from 1,763, indicating a growth of approximately 7% [42]. - The company has maintained its focus on manufacturing and selling special bar quality (SBQ) steel products for the automotive and construction industries in Mexico, the USA, and Canada, indicating a stable market presence [52].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ___________________ ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-11176 _________________________________ GRUPO SIME ...