Chelyabinsk Metallurgical Plant

Performance indicators

2024: Loss - ₽7,12 billion

In early May 2025, the Chelyabinsk Metallurgical Plant (CHMK), part of the Mechel group, summed up its financial activities for 2024, recording a net loss of ₽7,12 billion according to International Financial Reporting Standards (IFRS). The company's revenue for the specified period amounted to ₽172,13 billion, which is 6.6% more than in 2023.

According to Finmarket, in 2023 the plant showed positive dynamics with a net profit of ₽4,18 billion, which indicates a significant deterioration in financial performance over the past year. The increase in the cost of production by 16.9% to ₽151,24 billion significantly outstripped the increase in revenue, which was one of the key factors that negatively affected the final financial result.

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Фото: Freepik

CMK's gross profit decreased by 1.5 times compared to the previous reporting period, and operating profit showed an even sharper drop - by 5.8 times. This dynamics indicates the serious financial difficulties faced by the enterprise in 2024.

The structure of the company's liabilities has also undergone significant changes. CMK's long-term liabilities decreased from ₽113,19 billion at the end of 2023 to ₽5,95 billion as of December 31, 2024. At the same time, short-term liabilities increased from ₽43,99 billion to ₽147,196 billion over the same period.

According to the explanations in the statements, the company had unresolved obligations under individual agreements in the amount of ₽5,54 billion as of the end of December 2024 against ₽4,98 billion a year earlier. These amounts represent commitments under loan agreements with foreign banks.

Significant changes in the structure of liabilities occurred due to non-compliance of the enterprise with restrictive conditions and the presence of unresolved debts. As a result, long-term loans and borrowings of ₽93,3 billion were reclassified to short-term liabilities as of December 31, 2024.^[1]

History

2024: Purchase of property of the Guryev Metallurgical Plant for 555 million rubles

Chelyabinsk Metallurgical Plant (CHMK), part of the Mechel group, acquired the property of the Guryev Metallurgical Plant (GMZ) for ₽555 million. The transaction, which ended in July 2024, was the result of a long bidding process, during which the initial price of the asset decreased significantly. Read more here

Notes