"Metinvest"'s net loss increased in the first half of 2026, despite the increase in revenue amid operational problems

Ukrainian mining and steel group "Metinvest" has announced its consolidated financial results for the first half of this year.

For the period, the company reported a net loss of $202 million compared to a net loss of $58 million compared to the same period last year, mainly due to higher net operating expenses, a larger loss The disposal of subsidiaries and increased financing costs, while sales revenue totaled $3.66 billion, an increase of three percent year-on-year, mainly due to higher selling prices for steel and iron ore products, as well as an increase in our own supplies of semi-finished and finished steel products and commercial iron ore concentrate. In addition, Metinvest's EBITDA for the first six months was $311 million, down eight percent from $339 million recorded in the previous year, and operating profit was $73 million. millions of dollars compared to 203 million dollars recorded in the first half of the year 2025.

During the first half of the year, Metinvest's plants in Ukraine operated with varying degrees of workload due to security, energy supply, logistics, and economic constraints. The company increased its capital expenditures by 13% year-on-year to $103 million, with maintenance accounting for 83% of total costs. Her key projects included progress in the field of enrichment, a waste condensation project at the Northern Iron Ore Plant and an overhaul at the Kametsk Plant.

Since the reporting period, increased rocket attacks and drone attacks have increased security risks and disrupted commercial shipping through Black Sea ports, further limiting export and import logistics. ""The Southern Iron Ore Joint Venture temporarily suspended production, while missile attacks on "Zaporizhstal" and "Katsstal" in August and September resulted in deaths and injuries to personnel. Significant damage was caused to the production and auxiliary infrastructure, which led to temporary shutdowns at the affected enterprises. Metinvest stated that it plans to gradually restore production facilities and gradually resume the operation of blast furnaces.