MOSCOW, February 3. /TASS/. Net profit of Severstal under International Financial Reporting Standards (IFRS) fell by 22% in 2024 compared with the previous year to 149.55 bln rubles ($1.49 bln), while EBITDA decreased by 9% to 237.88 bln rubles ($2.38 bln), the company reported.

Revenue rose by 14% in the reporting period to 829.78 bln rubles ($8.3 bln). Free cash flow lost 19% to 96.77 bln rubles ($968 mln). EBITDA margin amounted to 29% compared with 36% in the previous year.

Severstal is a vertically integrated steel and mining company and one of Russia’s largest steel producers. The Cherepovets Steel Mill is the company’s key asset. Its production capacity roughly totals 12 mln tons of steel per year.