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MMK’s IFRS net profit down 84.3% to $131.6 mln in nine months

The company’s EBITDA for the reporting period totaled $755.1 mln, down 52.8% compared with the first nine months of the previous year

MOSCOW, October 23. /TASS/. MMK Group’s net profit under IFRS for January-September 2025 declined by 84.3% year-on-year to 10.669 bln rubles ($131.6 mln), according to the company’s report.

Revenue decreased by 23% to 464.1 bln rubles ($5.72 bln), reflecting lower sales volumes and selling prices amid a high key interest rate and a slowdown in business activity in Russia.

The company’s EBITDA for the reporting period totaled 61.207 bln rubles ($755.1 mln), down 52.8% compared with the first nine months of the previous year. Free cash flow for the nine months was negative at -2.64 bln rubles (-$32.6 mln), reflecting the decline in EBITDA.

As of the end of the Q3, the company’s net debt amounted to 72.1 bln rubles ($888.3 mln). The net debt to EBITDA ratio stood at -0.85x, compared with -0.52x a year earlier.

Quarterly results

The company’s net profit for the Q3 of 2025 totaled 5.06 bln rubles ($62.3 mln), increasing compared with the previous quarter due to changes in exchange rates.

MMK’s revenue for the Q3 of 2025 decreased by 2.9% quarter-on-quarter to 150.59 bln rubles ($1.85 bln), reflecting lower sales volumes and changes in the sales structure. EBITDA fell by 11.8% to 19.4 bln rubles ($239.0 mln).

The company’s free cash flow for the third quarter was positive, amounting to 2.065 bln rubles ($25.5 mln).

Market outlook

The company forecasts that in the Q4 of 2025, the Russian metal products market will continue to be influenced by negative factors that are slowing demand.

MMK is among the world’s largest steel producers and holds a leading position within Russia’s ferrous metallurgy sector, manufacturing a wide range of metal products with a predominance of high value-added products for all major metal-consuming industries in the Russian economy.

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