According to the company’s interim financial report, the net loss of «ArcelorMittal Kryvyi Rih» for the nine months of 2026 reached 49.4 billion UAH, which is 8.6 times higher than for the same period last year. The steelworks’ revenue for the period fell by 12.7% to 45.65 billion UAH.
Financial results for the nine months of 2026
At the end of September 2026 the plant’s uncovered loss amounted to 82.28 billion UAH. For the first half of 2026 the company reported a net loss of 6.64 billion UAH, while for the first three months of the year that figure was 4.6 billion UAH.
In 2025 «ArcelorMittal Kryvyi Rih» recorded a net loss of 8.9 billion UAH. Operating revenue in 2025 amounted to 70.63 billion UAH versus 64.59 billion UAH in 2024.
Causes and procedure for halting production
The international group ArcelorMittal has said it cannot safely resume operations at the plant after Russian missile strikes, which caused four hits on the steelworks over five weeks. The attacks killed five employees and injured a further 17; the latest strike, on 21 September, damaged production facilities.
After the attacks the company announced preparations for a cold shutdown of production. Primary metallurgical production has already been stopped; the next stage involves the safe cessation of other operations and the mothballing of industrial assets, a process expected to take about two months.
According to chief executive officer (CEO) Mauro Longobardo, the company’s current priority is the protection of employees and production assets so that operations can be restored in the future. ArcelorMittal stresses that it does not plan to leave Ukraine and intends to discuss the possibility of restarting production with the government after the war ends.
Impact on the region and the industry
In 2025 the plant produced 1.69 million tonnes of steel, or about 23% of Ukraine’s total output. According to GMK Center, in 2025 the company paid 8.5 billion UAH in taxes and fees and accounted for about 27% of Kryvyi Rih city budget revenues.
The plant’s problems coincide with a downturn in the sector: in the nine months of 2026 Ukrainian steelmakers produced 4.43 million tonnes of steel, 19.8% less than a year earlier, while finished rolling output fell by 23% to 3.73 million tonnes. With reduced tax revenues the city is revising its budget; on 28 October city council deputies supported an appeal to ArcelorMittal’s chairman of the board, Lakshmi Mittal, requesting a review of the decision to halt the steelworks.
