Severstal publishes financial results for the first six months of 2023

The company's total revenue decreased by 10%, reaching 339,429 million rubles. This decrease is due to a decrease in average prices for the sale of products. Despite this, some easing of the situation was ensured by an increase in the share of sold metal products in total sales, as well as an increase in sales.

EBITDA (earnings before interest, taxes, depreciation and amortization) also showed a negative trend, falling to RUB 118,462 million, down 12% year-on-year.

During the reporting period, the company's free cash flow increased by 1%, amounting to RUB 60,050 million. 

The volume of capital investments (CAPEX) decreased by 36%, falling to 24,862 million rubles compared to the same period of the previous year.