The significant depreciation of the ruble and the exchange rate losses in foreign exchange obligations caused the company to suffer losses. The Mechel company made a net loss of about 36.88 billion rubles in the first quarter. The company's net loss in the same period of the previous year amounted to about 11.34 billion rubles.
The company's sales revenue decreased by 9% y-o-y to 68.3 billion rubles, operating profit decreased by 35% y-o-y to about 7.02 billion rubles and EBITDA decreased by 17% y-o-y to about 12.7 billion rubles.
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