Severstal's IFRS net profit for 6 months of 2024 amounted to ₽83.32 billion, down 20.6% from ₽105 billion in the previous year. Revenue rose 20.5% to ₽409.14 billion against ₽339.43 billion a year earlier.

Board of Directors of Severstal recommended that dividends be paid for 6 months 2024 in the amount of ₽31.06 per ordinary share. The last day of the purchase of securities to receive dividends is September 9, 2024. Dividend yield may amount to 2.1%.

Severstal for 6 months of 2024 produced 5.22 million tons of steel, which is 8% less than in the same period last year. Pig iron production decreased by 15% to 4.77 mln tons amid repairs at BF-5. Sales of steel products fell 6% to 5.177 million tons. Share of high value-added products increased by 7 p.p. to 53%.

Severstal approved an updated development program for the Olenegorsk Mining and Processing Division up to and including 2040. Total investments from 2025 to 2040 will exceed ₽90 billion. By 2027, iron ore concentrate production at the mine is planned to double to approximately 4 million tons. Absolute values of the indicator in subsequent periods are not dis...