According to Makstil AD Skopje’s 2025 annual report, the company invested MKD 914 million during the year. The investments were mainly directed towards maintaining the operational readiness of existing equipment, modernising production lines and improving occupational safety.
In particular, the company carried out several projects at its steel shop, including the modernisation of automatic control systems, reconstruction of the ladle furnace, renewal of the water treatment system and crane modernisation.
Makstil also began work on replacing the main motor of the No. 1 plate rolling mill. The project is scheduled to be completed in the second half of 2026.
The company stated that its total planned investment budget covering 2025 and 2026 stands at EUR 10.53 million.
Plate production decreased by 8%
Makstil’s plate production stood at 268,825 tonnes in 2025, representing a decline of approximately 12% compared with 305,221 tonnes in 2024.
Final hot-rolled plate production decreased by approximately 8%, falling from 291,476 tonnes in 2024 to 267,036 tonnes in 2025.
The company attributed the decline in production to a lower production plan for 2025, as well as planned and unplanned maintenance activities.
Makstil’s total plate shipments also decreased from 292,401 tonnes in 2024 to 268,088 tonnes in 2025. Of this volume, 97,737 tonnes were direct sales, while 170,351 tonnes were produced under processing agreements.
Revenue and net profit increased
Despite the decline in production, Makstil recorded an improvement in its financial results.
The company’s total revenue increased by approximately 5% year on year, rising from MKD 8.25 billion to MKD 8.69 billion in 2025.
Revenue from direct sales decreased from MKD 5.04 billion in 2024 to MKD 4.85 billion in 2025, while revenue from processing activities increased from MKD 3.20 billion to MKD 3.84 billion.
Makstil reported a pre-tax profit of MKD 500.6 million, while net profit reached MKD 447.2 million. The company’s net profit stood at MKD 274.4 million in 2024, representing a year-on-year increase of approximately 63%.
Makstil plans to increase production in 2026
As part of its 2026 strategy, Makstil said it is targeting approximately 300,000 tonnes of slab production, while production at its plate mill is planned at around 294,000 tonnes.
This level is expected to represent an increase of approximately 4% compared with 2025.
The company stated that developments in the Middle East, energy costs, demand conditions in Europe and logistical challenges are expected to remain among the main market risks in 2026. In particular, due to the closure of the Thessaloniki-Gevgelija railway line, alternative routes are being used for the transportation of products by rail.
CBAM preparations continued
Makstil also continued its environmental and ESG activities throughout 2025. The company carried out work related to the calculation and reporting of carbon emissions under the European Union’s Carbon Border Adjustment Mechanism (CBAM).
According to the report, particulate matter emission levels remained below the legal limits throughout all four quarters of 2025. The company also stated that investments aimed at improving its environmental performance will continue.
Source: Makstil
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