Severstal reports Q1 profit drop to 57 million roubles
The Russian steelmaker reported a net profit of 57 million roubles for the first quarter. Revenue fell 19% as domestic steel demand dropped by 15% this year.
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The prominent steel producer SEVERSTAL PJSC has reported a near-total collapse in its net profit for the first quarter of 2026, as the company grapples with a sharp contraction in domestic market activity. According to the latest financial statement, net profit plummeted to 57 million roubles ($761,523), a staggering decline from the 21.1 billion roubles recorded during the same period in 2025.
