It's reported that the Russian steelmaker Severstal released the financial results for the first quarter of this year.
In the first quarter of this year, Severstal posted a net profit of US$44 million, slumping by 90% year on year. Its sales revenues were at US$3.32 billion, falling by 9.7% year on year and rising by 6.6% from a quarter ago.
In the given period of time, the company's EBITDA totaled US$425 million, falling by 24.8% year on year.
Meanwhile, Severstal's Russian Steel division sold around 2.6 million tons of steel products sales in the first quarter of this year, increasing by 12.3% year on year.