Severstal reported a drop in revenue and profit in the first quarter of 2026

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.