Severstal's loss under RAS for 3 months of 2026 amounted to ₽2.75 billion, compared to a profit of ₽11.9 billion in the previous year. Revenue decreased by 16% to ₽134.2 billion, compared to ₽159.7 billion a year earlier.

Severstal's management has decided to forgo the payment of dividends for the first quarter of 2026 due to negative cash flow. "Given the weak demand for steel in Russia and the negative free cash flow in the first quarter of 2026, we have decided not to distribute dividends for the period. This will allow us to focus on the timely completion of key strategic...

Revenue of Severstal in Q1 2026 decreased 19% YoY to RUB 145.3 bn due to lower prices and sales mix changes. EBITDA fell 54% to RUB 17.9 bn with a margin of 12% (-10 pp). Net profit dropped to RUB 57 mln versus RUB 21.1 bn a year earlier. Free cash flow amounted to RUB -40.4 bn (vs. -32.7 bn), while capex declined 34% to RUB 28.8 bn.

Severstal has adjusted its 2026 budget due to a 31% decrease in steel demand since the beginning of 2024. Repair fund expenses have been reduced by 14%, administrative expenses and labor costs have been reduced by 5%, and capital expenditures have been reduced by 24% compared to the previously announced target of ₽147 billion. However, the company will conti...