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Severstal’s IFRS net profit down 55% in 1H, while EBITDA falls by 38%

The company’s revenue for January-June decreased by 11% to 364.2 bln rubles ($4.66 bln)

MOSCOW, July 21. /TASS/. Severstal’s net profit under IFRS for the first half of 2025 fell by 55% year-on-year to 36.75 bln rubles ($470 mln), the company reported. EBITDA declined by 38% to 78.65 bln rubles ($1.01 bln).

The company’s revenue for January-June decreased by 11% to 364.2 bln rubles ($4.66 bln), primarily due to a drop in average selling prices.

Free cash flow amounted to negative 29.11 bln rubles ($372.3 mln), compared with a positive 57.5 bln rubles ($735.2 mln) in the same period last year. This reversal was attributed to a decline in EBITDA and an increase in capital expenditures. The EBITDA margin for the reporting period was 22%, compared with 31% a year earlier. Investments for the six-month period doubled to 87.11 bln rubles ($1.11 bln), in line with the company’s investment program.

In the Q2 of 2025, Severstal’s revenue declined by 16% year-on-year to 185.5 bln rubles ($2.37 bln), due to a decrease in average prices for metal products, including a higher share of semi-finished goods in the sales portfolio.

Severstal is a vertically integrated mining and steel company and one of the largest steel producers in Russia. Its key asset is the Cherepovets Steel Mill, which has an annual production capacity of approximately 12 mln tonnes of steel.

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