Public Joint Stock Company "Novolipetsk Steel" (NLMK) H1 2026 earnings summary

Executive summary

• Revenue for H1 2026 was ₽387,745 million, down from ₽438,708 million in H1 2025.

• Net profit for H1 2026 was ₽20,504 million, a significant decrease from ₽44,915 million in H1 2025.

• The financial statements were reviewed, not audited, and prepared under special disclosure rules to avoid harm to the group or its counterparties.

Financial highlights

• Gross profit for H1 2026 was ₽110,342 million, compared to ₽137,306 million in H1 2025.

• Operating profit for H1 2026 was ₽25,963 million, down from ₽54,765 million year-over-year.

• Basic and diluted EPS for H1 2026 was ₽3.4185, compared to ₽7.4891 in H1 2025.

• Depreciation for H1 2026 was ₽31,286 million.

Outlook and guidance

• Management notes market volatility and low foreign currency rates against the ruble, but no impairment of fixed assets was identified.

• No changes in accounting policy or significant events affecting future outlook were reported.