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Mechel IFRS net loss rises 2.5% to $482.84 mln in first half

The company’s revenue fell by 23% in the first half to $1.37 bln

MOSCOW, August 28. /TASS/. Mechel posted a net loss of 41.5 bln rubles ($482.84 mln) under the International Financial Reporting Standards (IFRS) in the first half of 2026, compared with a loss of 40.5 bln rubles ($471.20 mln) a year earlier, the company said in a statement.

In the second quarter, the company posted a net loss of 19.2 bln rubles ($223.39 mln), compared with a loss of 22.3 bln rubles ($259.45 mln) in the first quarter.

Mechel’s revenue fell by 23% in the first half to 117.35 bln rubles ($1.37 bln). Adjusted EBITDA increased by 6.3% to 6.05 bln rubles ($70.39 mln).

In the first six months of this year, the group’s capital expenditures on the modernization and maintenance of fixed assets, excluding leases, totaled 4.2 bln rubles ($48.87 mln), Mechel said.

The company’s net debt, excluding penalties and fines, stood at 289.6 bln rubles ($3.37 bln) as of June 30.

Mechel brings together producers of coal, iron ore concentrate, steel, rolled products, ferroalloys, high-value-added products, as well as thermal and electric power.

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