The net profit of Ural Steel JSC according to RAS for 2024 fell by 84.9% to 3.8 billion rubles from 25.22 billion rubles a year earlier. Revenue fell by 5.5% to 152.97 billion rubles from 161.79 billion rubles, gross profit — by 37.4% to 34.28 billion rubles from 54.75 billion rubles. This is stated in the company's report. The adjustment of indicators as of December 31, 2023 in the reporting for 2024 showed net assets in the amount of 42.49 billion rubles.
The average number of employees was 9,231 in 2024 and 9,089 in 2023.
Remuneration of key management personnel is a short-term remuneration to the directors of a management company consisting of annual salaries, insurance premiums and bonuses based on the results of the year. Remuneration to the directors of the management company is paid by the management company and is billed to the Company as part of the cost of the services of the sole executive body. The cost of the management company's services in 2024 amounted to 2.22 billion rubles. excluding VAT (in 2023 — 2.22 billion rubles excluding VAT) and included in management expenses.
In accordance with the collective agreement, the company has assumed the obligation to pay employees a lump sum upon retirement, as well as to make lifelong periodic payments to non-working pensioners. The total amount of these payments made in 2024 amounted to 265.423 million rubles (in 2023 — 199.433 million rubles). The Company assessed employee benefit obligations in accordance with IFRS and reflected them in the following estimates: as of December 31, 2024 and December 31, 2023 — almost 2.5 billion rubles each.
In 2024, current expenses for environmental measures amounted to 893.224 million rubles, in 2023 — 559.743 million rubles.
In 2024, the Company took into account fixed assets related to environmental activities and incurred expenses for the reconstruction (modernization) of fixed assets in order to improve production technology and organization, improve product quality during the production process, introduce and master new production technologies that increase environmental safety in the amount of 476.789 million rubles, in 2023 year — 318.363 million rubles . This includes expenses related to the protection of atmospheric air from pollution and the prevention of climate change in the amount of 467.8 million rubles in 2024 and 311.164 million rubles in 2023.
In 2024, the cost of uncompleted capital investments related to environmental activities amounted to 186.231 million rubles. (for 2023 — 415.811 million rubles). Including expenses related to the protection of atmospheric air from pollution and the prevention of climate change as of December 31, 2024 amounted to 168,961 million rubles, as of December 31, 2023 — 412,892 million rubles.
In 2024, loans of 462,803 million rubles issued to another related party and reflected in long—term and short-term financial investments were offset against equipment supplies (in 2023 - in the amount of 1,049 billion rubles). Long—term and short-term loans issued in the amount of 229.639 million rubles were classified into other accounts receivable due to changes in the terms of the interest rate agreement (in 2023 - in the amount of 155.558 million rubles).
In 2024, the group finalized the terms of the transaction for the sale to another related party of construction-in-progress facilities recorded as assets held for sale as at 31 December 2023. The book value of assets sold during 2024 amounted to 5.74 billion rubles, the revenue from sales amounted to 6.024 billion rubles.
Ural Steel JSC is engaged in the production and sale of cast iron, steel, rolled steel, refractories, coke and coke chemical products.
The authorized capital as of December 31, 2024 is 2.156 billion rubles and is divided into 2156165 thousand ordinary shares with a par value of 1 RUB each.
As of December 31, 2024, Ural Steel Management Company LLC is the ultimate controlling company of the Company. As of December 31, 2023 and December 31, 2022, the ultimate controlling company of the Company was ZTZ Holding Limited. As of December 31, 2024, December 31, 2023, December 31, 2022, the main business entity is JSC Zagorsky Pipe Plant.
As of December 31, 2024, the Company had seven subsidiaries, as of December 31, 2023 — six subsidiaries, as of December 31, 2022 — four subsidiaries.
