Mechel reports 41.5B RUB loss, Etalon cuts loss by 7%
As of June 30, the net debt amounted to 1.57 billion rubles, compared to 2.84 billion rubles as of December 31, 2025. The OIBDA indicator was -438.63 million rubles, while the adjusted figure was -409.38 million rubles.
Consensus
- Mechel reported a net loss of 41,47 billion rubles for the first half of the year according to IFRS.
- Etalon Group reported a net loss of 13.17 billion rubles for the first half, down 6.9% from the same period last year.
- Both companies experienced a decline in revenue compared to the same period in the previous year.
- Mechel's adjusted EBITDA was negative at 6.053 billion rubles, compared to a positive 5.69 billion rubles the previous year.
- Etalon Group's EBITDA increased by 28% year-on-year to 9.2 billion rubles.
- Mechel's financial expenses decreased by 1.9% to 26.3 billion rubles, partly due to a reduction in the Central Bank rate.
- Etalon Group's commercial, administrative, and management expenses decreased by 9% in the first half of the year.
- Etalon Group's net corporate debt decreased from 83.9 billion rubles at the end of 2025 to 72.7 billion rubles.
Points of divergence
- Mechel's revenue for January-June decreased by 23% to 117.35 billion rubles. — kommersant
- Etalon Group's revenue decreased by 9.6% year-on-year to 54.44 billion rubles. — vedomosti
- Mechel's EBITDA margin was -5%, compared to +4% in the first half of 2025. — kommersant
- Etalon Group's gross profit increased by 3.5% to 14.56 billion rubles. — vedomosti
- Mechel's coal production and shipment of the most marginally profitable products increased starting from the middle of the second quarter. — kommersant
- Etalon Group's sales in the second quarter increased by 14% year-on-year. — vedomosti
- Mechel is a vertically integrated mining and metallurgical company operating over 200 enterprises. — kommersant
- Etalon Group is one of Russia's leading developers, specializing in residential, office, and cultural heritage projects. — vedomosti
Coverage (5 sources)
- Losses of the 'Arenadata' group decreased by almost three times in six months — Ведомости
- Net profit of OVK by IFRS for the first half of the year fell 22 times — Ведомости
- Pure loss of "Melip" according to IFRS reached 41.5 billion rubles in the first half of the year — Коммерсантъ
- Pure loss of "Etalon" by IFRS for six months decreased by 7% — Ведомости
- «Etalon» reduced net loss under IFRS by 7% — Коммерсантъ