PJSC “Zaporizhzhia Metallurgical Plant ‘Zaporizhstal’” reported a net loss of 2 billion (307.873 million UAH) in January–September of this year, compared to a net profit of 1 billion 887.127 million UAH in the same period last year.
According to the company’s interim report, available to the Interfax-Ukraine news agency, the loss in the third quarter amounted to 1,247.146 million UAH.
During this period, revenue from ordinary operations decreased by 8.3% to 49,157.347 million UAH.
Retained earnings as of the end of September totaled 29 billion 799.280 million UAH.
The company’s management report specifically highlights logistical, regulatory, and energy risks. It also notes that a significant portion of PJSC “Zaporizhstal’s” products is sold for export. As of September 30, 2026, the Russian Federation’s military aggression and restrictions on shipping in the Black Sea region continue to pose significant logistical risks to the stability of supplies. In this regard, the company utilizes multimodal logistics routes, which are carried out both through ports on the Danube River and via rail and road transport. At the same time, there remains a risk of restrictions or complications in transportation across Ukraine’s western borders, particularly with the Republic of Poland, which could negatively impact both the import of raw materials and the export of finished products, leading to increased costs and longer contract fulfillment times.
One of the significant risks for the company is the European Commission’s introduction of the Carbon Border Adjustment Mechanism (CBAM), which gradually tightens financial and administrative requirements for imports of high-carbon-intensive metallurgical products, as well as increases the cost of greenhouse gas emissions. At the same time, the company’s assessment—which also takes into account the continued use of free allowances under the European Union Emissions Trading System (EU ETS)—indicates that the impact of CBAM on semi-finished steel products and finished goods will remain limited until 2030. An additional risk is the tightening of trade defense measures in the EU market. In particular, new restrictive quotas on imports of certain types of steel products into the EU took effect on July 1, 2026. Zaporizhstal continuously monitors changes in the regulatory environment and takes measures to adapt its export strategy to the new conditions governing foreign economic activity.
Zaporizhstal’s financial and operational activities are also subject to risks related to electricity supply. The energy-intensive nature of metallurgical production, combined with the consequences of damage to Ukraine’s energy infrastructure resulting from military hostilities, creates risks of unstable electricity supply, restrictions on electricity consumption, and rising costs. Since the plant’s production process depends on the power supply, in the event of any significant power outages, the company will be able to continue its operations at a reduced capacity. Such a scenario could negatively impact the plant’s operating results and financial condition in a manner that cannot currently be reliably assessed, including its ability to continue operations on a going-concern basis.
At the same time, the expansion of sales markets, the adaptation of logistics routes, and improvements in energy efficiency are positive factors that could partially mitigate the impact of these risks in the medium term.
In August–September 2026, the company’s production site was subjected to rocket attacks, which damaged certain energy infrastructure and blast furnace production facilities.
As reported, in the first quarter of 2026, Zaporizhstal’s net loss increased 2.1-fold compared to the same period in 2025—to 1 billion 373.955 million UAH from 660.923 million UAH. Its revenue from ordinary operations increased by 13.2%, to 19 billion 667.141 million UAH from 17 billion 376.525 million UAH.
In January–June of this year, the plant reported a net loss of 1 billion 60.727 million UAH, whereas in the same period last year it had a net profit of 1 billion 369.359 million UAH; revenue from ordinary operations increased by 7.6% to 38 billion 701.653 million UAH.
In 2025, Zaporizhstal doubled its net profit compared to 2024—to 1 billion 764.886 million UAH from 880.562 million UAH, and revenue from ordinary operations rose by 2.4%—to 72 billion 14.156 million UAH from 70 billion 307.933 million UAH. At the same time, consolidated profit in 2025 amounted to 1,328.605 million UAH, compared to 1,593.521 million UAH in 2024. Revenue remained unchanged—the same as in the unconsolidated report.
In 2024, Zaporizhstal reported a net profit of 1 billion 593.521 million UAH, compared to a net loss of 3 billion 899.537 million UAH the previous year. Revenue amounted to 70,307.933 million UAH, compared to 56,428.254 million UAH in 2023.
Zaporizhstal ended 2022 with a net loss of 4,864,684,828 thousand UAH, whereas in 2021 it reported a net profit of 16,809,158,412 thousand UAH.
Zaporizhstal is one of Ukraine’s largest industrial enterprises, whose products are in high demand among consumers both in the domestic market and in many countries around the world.
“Zaporizhstal” is a joint venture of the ‘Metinvest’ Group, whose main shareholders are PJSC “System Capital Management” (71.24%) and Smart Steel Limited (23.76%). LLC “Metinvest Holding” is the management company of the “Metinvest” Group.
The public joint-stock company’s authorized capital is 660,920,444.75 UAH, divided into 2,643,681,770 shares, with a par value of 0.25 UAH per share.
The Zaporizhzhia Metallurgical Plant “Zaporizhstal” reduced its rolled steel output by 19.1% in January–August of this year compared to the same period last year—to 1,488,700 metric tons from 1,839,300 metric tons.
According to the company’s press release, steel production for the first eight months of the year totaled 1,681,700 metric tons (compared to 2,105,500 metric tons in January–August 2025), while pig iron production totaled 1.816 million metric tons (compared to 2,339,200 metric tons).
In August, Zaporizhstal produced 42,400 metric tons of pig iron and 46,200 metric tons of steel, and shipped 45,000 metric tons of rolled steel, whereas in the previous month it produced 301,200 metric tons of pig iron, 284,900 metric tons of steel, and shipped 243,700 metric tons of rolled steel.
“The significant decline in production was the result of a hostile attack on August 11, 2026, which damaged the power facilities and infrastructure of Metinvest’s Zaporizhzhia enterprises, including the main and auxiliary blast furnace production facilities of the plant. This led to a complete shutdown of Zaporizhstal.” The
Russian army attacked the shut-down Zaporizhstal again on August 27, 2026, targeting equipment in the blast furnace shop, power and transportation infrastructure, and open areas. “This is yet another indication that Russian troops are systematically striking civilian industrial infrastructure and the people who work there,” the press release states.
As previously reported, in 2025, Zaporizhstal increased its rolled steel output by 15.2% compared to the previous year—to 2,794,600 metric tons from 2,426,700 metric tons. Steel production totaled 3,212,200 metric tons (compared to 2,890,800 metric tons in 2024), and pig iron production totaled 3,567,800 metric tons (compared to 3,106,300 metric tons).
In 2024, Zaporizhstal increased its rolled steel output by 18.1% compared to 2023—to 2,426,700 metric tons from 2,054,700 metric tons—and its steel output by 17.2%, to 2,890,800 metric tons, and pig iron by 14.2%, to 3,106,300 metric tons.
“Zaporizhstal” is one of Ukraine’s largest industrial enterprises, whose products are in high demand among consumers both in the domestic market and in many countries around the world.
“Zaporizhstal” is a joint venture of the ‘Metinvest’ Group, whose major shareholders are PJSC “System Capital Management” (71.24%) and Smart Steel Limited (23.76%). “Metinvest Holding” LLC is the management company of the “Metinvest” Group.
The Zaporizhzhia Metallurgical Plant “Zaporizhstal” reduced its rolled steel shipments by 6.3% in January–June of this year compared to the same period last year—to 1,272,200 metric tons from 1,317,500 metric tons.
According to the company’s press release, steel production for the first six months of the year totaled 1,442.9 thousand metric tons (compared to 1,564.1 thousand metric tons in January–June 2025), while pig iron production totaled 1,556.2 thousand metric tons (compared to 1,719.4 thousand metric tons).
In June, Zaporizhstal produced 301.2 thousand metric tons of pig iron and 284.9 thousand metric tons of steel, and shipped 243.7 thousand metric tons of rolled steel, whereas in the previous month it produced 242.1 thousand metric tons of pig iron, 243.4 thousand metric tons of steel, and shipped 208.9 thousand metric tons of rolled steel.
As reported, in 2025, Zaporizhstal increased its rolled steel output by 15.2% compared to the previous year—to 2,794.6 thousand metric tons from 2,426.7 thousand metric tons. Steel production amounted to 3,212,200 metric tons (compared to 2,890,800 metric tons in 2024), and pig iron production to 3,567,800 metric tons (compared to 3,106,300 metric tons).
In 2024, Zaporizhstal increased its rolled steel output by 18.1% compared to 2023—to 2,426,700 metric tons from 2,054,700 metric tons—and its steel output by 17.2%, to 2,890.8 thousand metric tons, and pig iron by 14.2%, to 3,106.3 thousand metric tons.
“Zaporizhstal” is one of Ukraine’s largest industrial enterprises, whose products are in high demand among consumers both in the domestic market and in many countries around the world.
Zaporizhstal is a joint venture of the Metinvest Group, whose main shareholders are PJSC System Capital Management (71.24%) and Smart Steel Limited (23.76%). Metinvest Holding LLC is the management company of the Metinvest Group.
The Zaporizhzhia Metallurgical Plant “Zaporizhstal” is carrying out systematic work to maintain and modernize its crane system and lifting equipment
According to the company’s press release, the reliable operation of this equipment is a key component of ensuring the continuity of production processes, employee safety, and the creation of comfortable working conditions.
It is noted that the plant operates 230 lifting mechanisms and 447 cranes. All equipment undergoes regular maintenance, repairs, and modernization with the implementation of modern solutions in the field of occupational health and safety.
“Today, the company is carrying out comprehensive work to maintain the crane fleet in good working order—from regular technical audits and timely detection of malfunctions to staff training and the implementation of modern safety standards. This approach ensures uninterrupted production operations and creates safer working conditions for our employees,” noted Kirill Gavrilyuk, Director of Occupational Health and Industrial Safety at Zaporizhstal.
It is also reported that in 2025, the company carried out a series of major overhauls of crane equipment with a total cost of over 13.6 million UAH. In particular, a major overhaul of the ore-handling gantry crane was carried out in the blast furnace shop. As part of the work, the crane and trolley travel mechanisms, as well as the grab lifting and closing mechanisms, were updated; the trolley rails were replaced; and the steel structures, electrical equipment, and safety devices were repaired.
In the slab mill section of the hot rolling shop, major repairs were performed on two grab cranes. The work involved repairing the main steel structures, the main hoisting mechanisms, control systems, electric motors, and electrical equipment.
In addition, the company allocated approximately UAH 170 million to maintain the equipment in good working order and perform routine repairs on the crane equipment.
In 2026, Zaporizhstal continues the systematic modernization of its crane fleet. Since the beginning of the year, 14 new industrial air conditioners have been installed on overhead and crane systems in the hot rolling shop, cold rolling shop, blast furnace shop, and open-hearth shop. To improve working conditions for crane operators, the company also purchased and installed modern anti-vibration seats, which help reduce the impact of vibration and prevent the development of occupational diseases.
In total, nearly 90 million UAH is allocated for maintenance and repairs of crane facilities in 2026.
Among the largest projects of the year is the overhaul of one of the gantry cranes in the hot rolling shop, with an investment of over 7 million UAH. The project involves a comprehensive upgrade of mechanical and electrical equipment, modernization of control systems, replacement of cables and wiring, and the completion of a full range of commissioning works.
In all structural units of the plant, material-handling cranes are equipped with audible alarms to warn employees of moving machinery. In the hot rolling shop, four cranes have additionally been fitted with a visual lighting system for the areas where loading and unloading operations take place. In the railway transport department, two cranes are equipped with an automated signaling system that prevents the mechanisms from starting without a warning signal. The combination of audible signals and visual indicators helps employees better navigate the crane operating area and significantly reduces production risks during loading and unloading operations.
Zaporizhstal is one of Ukraine’s largest industrial enterprises, whose products are in high demand among consumers both in the domestic market and in many countries around the world.
Zaporizhstal is a joint venture of the Metinvest Group, whose main shareholders are PJSC System Capital Management (71.24%) and Smart Steel Limited (23.76%). Metinvest Holding LLC is the management company of the Metinvest Group.
crane fleet, METINVEST, MODERNIZATION, occupational safety, ZAPORIZHSTAL
The Zaporizhzhia Metallurgical Plant “Zaporizhstal” reduced rolled steel shipments by 6.3% in January-May of this year compared to the same period last year—to 1.0285 million tons from 1.0973 million tons.
According to the company’s press release on Monday, steel production for the first five months of the year amounted to 1,158,100 tons (1,296,800 tons in January–May 2025), and pig iron production to 1,255,000 tons (1,426,900 tons) .
In May, Zaporizhstal produced 242,100 tons of pig iron and 243,400 tons of steel, and shipped 208,900 tons of rolled steel, whereas the previous month it produced 193,500 tons of pig iron, 156,600 tons of steel, and shipped 159,100 tons of rolled steel.
Other reports indicate that the company has a “Bring a Friend” program, which not only helps acquaintances find stable employment but also strengthens the team with reliable people and provides additional monetary rewards. Since the beginning of the year, 323 new employees have joined the plant’s workforce thanks to employee referrals. A total of 265 Zaporizhstal employees have participated in the program. The total budget for payments since the start of the year has already exceeded 4.7 million UAH.
As reported, in 2025, Zaporizhstal increased its rolled steel output by 15.2% compared to the previous year—to 2,794,600 tons from 2,426,700 tons. Steel production amounted to 3,212,200 tons (in 2024 – 2,890,800 tons), and pig iron production – 3,567,800 tons (3,106,300 tons).
In 2024, Zaporizhstal increased rolled steel output by 18.1% compared to 2023—to 2,426,700 tons from 2,054,700 tons—and steel output by 17.2%, to 2,890,800 tons, and pig iron by 14.2%, to 3,106,300 tons.
Zaporizhstal is one of Ukraine’s largest industrial enterprises, whose products are in high demand among consumers both in the domestic market and in many countries around the world.
Zaporizhstal is a joint venture of the Metinvest Group, whose main shareholders are PJSC System Capital Management (71.24%) and Smart Steel Limited (23.76%). Metinvest Holding LLC is the management company of the Metinvest Group.
The Zaporizhzhia Metallurgical Plant “Zaporizhstal” increased its rolled steel shipments by 5.3% in January–April of this year compared to the same period last year—to 819,600 tons from 865,700 tons.
According to the company’s press release, steel production for the first four months amounted to 914,700 tons (1,018,900 tons in January–April 2025), and pig iron production to 1,012,900 tons (1,132,400 tons).
In April, Zaporizhstal produced 193,500 tons of pig iron and 156,600 tons of steel, and shipped 159,100 tons of rolled steel, whereas in the previous month it produced 316,400 tons of pig iron, 298,200 tons of steel, and shipped 254,600 tons of rolled steel.
It is explained that the decline in production figures is due to an unscheduled shutdown of the company’s production facilities caused by the Russian army’s attack on the region’s infrastructure. During the forced downtime, a series of repairs and maintenance were carried out on production units and treatment facilities to improve their operational reliability in the future.
Another press release reports that Metinvest’s Zaporizhzhia-based enterprises—Zaporizhstal, Zaporizhkox, Zaporizhrefact, and Metinvest Machinery—paid over UAH 778 million in taxes and fees to budgets at all levels in the first quarter of 2026, increasing payments by 10% compared to the same period in 2025. The largest share of payments traditionally came from the unified social contribution, personal income tax, environmental tax, and military levy.
In addition, it is emphasized that Metinvest’s enterprises consistently remain leaders in terms of taxes paid in Zaporizhzhia. UAH 250 million was allocated to local budgets in the first quarter of this year, which is 7% more than last year. Amid a full-scale war, the group in Zaporizhzhia continues to systematically support the country’s and local communities’ economies. Guided by the principles of social partnership for the sustainable development of the regions where it operates, the Company, together with its enterprises and in dialogue with the community, implements educational projects and veteran programs, and participates in the restoration of infrastructure damaged by shelling.
“Since the start of the full-scale war, Zaporizhstal and other Metinvest enterprises in Zaporizhzhia have contributed over UAH 14 billion to Ukraine’s economy,” noted Taras Shevchenko, acting CEO of the steel plant.
In total, including associated companies and joint ventures, the group paid 4.3 billion UAH in taxes and fees to Ukrainian budgets at all levels in January–March 2026. Since the start of the full-scale invasion, including the results of the first quarter of 2026, the company’s total contribution to the country’s economy amounts to approximately 78 billion UAH.
As reported, in 2025, Zaporizhstal increased its rolled steel output by 15.2% compared to the previous year—to 2,794,600 tons from 2,426,700 tons. Steel production amounted to 3,212,200 tons (in 2024 – 2,890,800 tons), and pig iron production – 3,567,800 tons (3,106,300 tons).
In 2024, Zaporizhstal increased rolled steel output by 18.1% compared to 2023—to 2,426,700 tons from 2,054,700 tons—and steel output by 17.2%, to 2,890,800 tons, and pig iron by 14.2%, to 3,106,300 tons.
Zaporizhstal is one of Ukraine’s largest industrial enterprises, whose products are in high demand among consumers both in the domestic market and in many countries around the world.
Zaporizhstal is a joint venture of the Metinvest Group, whose main shareholders are PJSC System Capital Management (71.24%) and Smart Steel Limited (23.76%). Metinvest Holding LLC is the management company of the Metinvest Group.
