MOSCOW, April 21 (Reuters) - Russian steelmaker Severstal on Tuesday reported a drop in net profit in the first quarter of 2026 to 57 million roubles ($761,523) from 21.1 billion roubles in the first
Severstal Reports Q1 2026 Net Profit Plunge Amid Falling Steel Demand
Severstal's Financial Performance and Market Challenges
Q1 2026 Net Profit Results
MOSCOW, April 21 (Reuters) - Russian steelmaker Severstal on Tuesday reported a drop in net profit in the first quarter of 2026 to 57 million roubles ($761,523) from 21.1 billion roubles in the first quarter of 2025, citing a 15% decrease in demand for steel in Russia.
Dividend Policy Adjustment
The company said its board recommended not to pay dividends in the first quarter in light of the poor steel demand and a negative free cash flow.
Revenue and EBITDA Decline
Revenue dropped 19% to 145.3 billion roubles, while EBITDA dropped 54% to 17.94 billion roubles in the first quarter.
Exchange Rate Information
($1 = 74.8500 roubles)
Reporting and Editorial Credits
(Reporting by Anastasia Lyrchikova; Writing by Lucy Papachristou; Editing by Gleb Bryanski)
