Russian steelmaker Severstal reports an almost 100% plunge in Q1 net profit
Published on April 21, 2026.
Russian steelmaker, Severstal, has reported an almost 100% decrease in Q1 net profit to $57 million ($761,000), citing a decrease in demand for steel in Russia. The company's board recommended not to pay dividends in the first quarter due to the poor performance and a negative free cash flow.
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