Public Joint Stock Company Magnitogorsk Iron & Steel Works (MAGN) Q3 2025 earnings summary

Executive summary

• Interim consolidated financial statements prepared for the three and nine months ended 30 September 2025 under IFRS (IAS) 34, unaudited and approved on 22 October 2025.

• Management confirms responsibility for preparation, internal controls, and compliance with accounting standards.

• Review by independent auditor found no material misstatements or non-compliance with IFRS (IAS) 34.

Financial highlights

• Revenue for nine months: ₽464,100 million, down from ₽602,829 million year-over-year.

• Net profit for nine months: ₽10,669 million, sharply down from ₽67,805 million year-over-year.

• Gross profit for nine months: ₽77,104 million, down from ₽148,547 million year-over-year.

• Basic and diluted EPS for nine months: ₽0.9548, down from ₽6.0679 year-over-year.

• Cash and equivalents at period end: ₽45,318 million, down from ₽114,435 million at year-end 2024.

Outlook and guidance

• Management notes ongoing assessment of macroeconomic and geopolitical risks, with future estimates subject to change.

• No significant seasonality in operations; business remains exposed to Russian and international market conditions.