MOSCOW, October 20. /TASS/. Net profit of Severstal under the International Financial Reporting Standards (IFRS) fell by 61% in the first nine months of 2026 year-on-year to 19.29 bln rubles ($233 mln), the company reported.

Revenue reached 488.41 bln rubles ($5.8 bln), which is 10% lower than in the same period last year due to a decline in average sale prices and an increase in the share of semi-finished products in the sales mix, Severstal said.

EBITDA lost 28% year-on-year to 82.32 bln rubles. EBITDA margin stood at 17% (down 4 percentage points in annual terms).

Investments for the first nine months of 2026 fell by 39% year-on-year to 77.24 bln rubles, the company said. The decline is due to the passing of the capital expenditures peak and the implementation of a plan to reduce investments announced by Severstal at the beginning of the year.

Q3 net profit grew by 17% to 15.17 bln rubles, while revenue slipped by 3% to 173.53 bln rubles due to a decline in sales volume, which was partially offset by an increase in average sale prices driven by an improved product mix, the company said.

Investments for the third quarter fell by 42% to 23.18 bln rubles.

Severstal is a vertically integrated steel and mining company and one of Russia’s largest steel producers. The Cherepovets Steel Mill is the company’s key asset. Its production capacity roughly totals 12 mln tons of steel per year. Alexey Mordashov who holds around 77.03% of shares, is the main shareholder of Severstal.