Russian steelmaker Severstal has shared its new financial and growth strategy for the 2024-28 period, aimed at maintaining its leadership in the global market and strengthening its position in the domestic market.
Accordingly, the company aims to increase its EBITDA by RUB 128 million ($1.4 million) by the end of 2028, compared to the 2023 level. In order to achieve this, Severstal will implement a large-scale investment program, under which the product portfolio will be expanded, product quality will be improved, sales volume will be increased, and production costs will be reduced.
In the meantime, the Russian steelmaker will provide comprehensive modern solutions to its customers and will focus on the domestic market, which is expected to grow. It will also boost local steel demand and develop innovative products to meet customer needs. Also, the company will work on digital technologies that will increase productivity and reduce equipment downtime.
Regarding the environmental measures, Severstal stated that it plans to cut its gross emissions by 46 percent by the end of 2028, compared to the 2017 level, and aims to increase its recycling rate to 98.5 percent in 2028. Additionally, it will introduce energy-efficient technologies.