Severstal Margins Drop to 16-Year Low as Russian Economy Slows

Severstal PJSC, one of Russia’s top steelmakers, posted its lowest profit margin in 16 years, as a slowing domestic economy weighed on demand.

Earnings before interest, taxes, depreciation and amortization slumped 42% to 137.6 billion rubles ($1.8 billion) in 2025 from a year earlier, as revenue fell 14%, the steelmaker said in a statement Tuesday. The Ebitda margin, a measure of profitability, dropped to 19%, its lowest level since 2009, when the global steel industry was hit by the financial crisis.