Severstal says IFRS Q1 net profit falls by 83% to $72 mln

MOSCOW, Apr 24 (PRIME) -- The net profit of Russian steelmaker Severstal fell by 83% on the year to U.S. $72 million In January–March, the company said in a statement on Friday. 

Revenue fell 12.5% to $1.777 billion, and earnings before interest, taxes, depreciation and amortization (EBITDA) decreased 16.3% to $555 million.

Net debt decreased 2.7% throughout the reported period to $1.529 billion as of March 31.

For further details, see the company’s statement on its official website:   

https://www.severstal.com/files/41806/Severstal%20Q1%202020%20Press%20Release_final.pdf  

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