Finance
Russian Steelmaker Severstal Reports an Almost 100% Plunge in Q1 Net Profit
Published by Global Banking & Finance Review®
Posted on April 21, 2026
1 min readLast updated: April 21, 2026
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Severstal Reports Q1 2026 Net Profit Plunge Amid Falling Steel Demand
Severstal's Financial Performance and Market Challenges
Q1 2026 Net Profit Results
MOSCOW, April 21 (Reuters) - Russian steelmaker Severstal on Tuesday reported a drop in net profit in the first quarter of 2026 to 57 million roubles ($761,523) from 21.1 billion roubles in the first quarter of 2025, citing a 15% decrease in demand for steel in Russia.
Dividend Policy Adjustment
The company said its board recommended not to pay dividends in the first quarter in light of the poor steel demand and a negative free cash flow.
Revenue and EBITDA Decline
Revenue dropped 19% to 145.3 billion roubles, while EBITDA dropped 54% to 17.94 billion roubles in the first quarter.
Exchange Rate Information
($1 = 74.8500 roubles)
Reporting and Editorial Credits
(Reporting by Anastasia Lyrchikova; Writing by Lucy Papachristou; Editing by Gleb Bryanski)
References
Frequently Asked Questions about Russian steelmaker Severstal reports an almost 100% plunge in Q1 net profit
1How much did Severstal's net profit decline in Q1 2026?
Severstal's net profit dropped to 57 million roubles from 21.1 billion roubles year-on-year, an almost 100% decrease.
2What caused the decline in Severstal's Q1 net profit?
The decline was driven by a 15% decrease in steel demand in Russia.
3Did Severstal's revenue and EBITDA decrease in Q1 2026?
Yes, revenue fell by 19% to 145.3 billion roubles and EBITDA dropped 54% to 17.94 billion roubles.
4Will Severstal pay Q1 2026 dividends?
No, Severstal's board recommended not paying dividends for Q1 2026 due to poor financial results.
5What is the exchange rate used in Severstal's Q1 2026 report?
The exchange rate reported was $1 = 74.8500 roubles.