Severstal's RAS net profit for 3 months of 2024 amounted to ₽38.89 billion, down 17.1% from ₽46.94 billion in the previous year. Revenue increased 23.2% to ₽181.89 billion against ₽147.6 billion a year earlier.

Severstal plans to increase the company's share in the steel structures market to 11% by 2028 and reach annual shipments of ₽30 billion. Company also plans to increase its steel structures production capacity from 14,000 tons to 178,000 tons. Investments in the expansion and modernization of production capacities will amount to about ₽4 billion.

Severstal CEO Alexander Shevelev and FAS head Maxim Shaskolsky have signed an amicable agreement, which provides for a reduction in the fine imposed by FAS from ₽8.7 billion to less than ₽900 million. Amicable agreement is expected to be approved by the court on May 27.

Severstal's IFRS net profit for 3 months of 2024 amounted to ₽47.42 billion, up 12.9% from ₽42 billion in the previous year. Revenue increased 19.7% to ₽188.71 billion vs. ₽157.62 billion a year earlier.