Severstal Profits Drop 370 Times Year-on-Year
Russian steel giant Severstal reported first-quarter profits that beat market forecasts, marking a nearly 400% increase year-on-year. Analysts describe the situation as a crisis in the Russian market driven by weak and falling demand. Demand for metal products fell an additional 15 percent during the first three months of the year. This represents the third consecutive year of declining demand. Severstal metal production fell by another 15%, reaching a relatively weak level. Severstal's free cash flow is currently in the negative. This follows a late March meeting where Vladimir Putin proposed that businessmen make voluntary contributions to the budget for the war in Ukraine. The cancellation of a state housing program in Russia has led to a decline in construction activity.
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Sources · 7 independent
“Russian steelmaker “Severstal” reported a 370% drop in profit, with revenue down 18% and EBITDA falling by 54%. Cash reserves plunged by 96%”
“But according to the results of the first quarter of 2026, Severstal's profit fell 370 times compared to last year.”
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“года приболь Северстали упала в 370 раз по сравнению с прошлым годом. ... Severstal also refused to pay dividends for the first quarter.”
“прибіль Северсталі упалив 370 разів по сравненню з прошлим годом. Откровен я б сказав, корізис на російском ринке. Спрос слабий, он продолжает падать.”
“по итогам первого квартала, 2026 года, прибыль Северстали упал в 370 раз по сравнению с прошлым годом. Откровенный, я бы сказал, кризис на российском рынке. Спрос слабый, он продолжает падать.”
“на металл продукцию упал еще раз на 15%... Также Северсталь отказалась от выплат дивидиэндов за первый портал 2026 года.”
“the state canceled the program for affordable housing... without this, who can buy housing in Russia? No one, so the volume of construction falls, and consequently, they buy less metal.”
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