2025 Annual Report
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Performance highlights

Operational

Production of nickel and copper, from own feed, kt
198205208219190–3% y-o-y425433425433407–2% y-o-yNickelCopper20212022202520232024
Production of palladium and platinum, from own feed, koz
PlatinumPalladium6676676646516412,7252,7622,6922,7902,616–1% y-o-y202420252023202220210% y-o-y
Operational

Sustainability

Average monthly salary
RUB thousandUSD thousand202120222025202320242.62.22.22.72.0217207184183145+16% y-o-y+5% y-o-y
Social expenses for employees, USD mln
18121016143027293628181614171414912314015312320212022202320242025215178193223179Housing programmesHealth resort treatmentPension plansOther social expenses
GHG emissions from production assets, mln t
Scope 1Scope 27.17.17.17.17.57.57.57.67.68.0202520242023202220210.50.50.50.40.4
Injury rates, per million hours worked
FIFRLTIFR202420252023202220210.0440.030.040.030.10.990.640.650.580.38+47% y-o-y+55% y-o-y

Financial

Revenue and net income, USD bn
Net incomeRevenue202120222025202320242.51.82.95.97.013.812.514.416.917.9+36% y-o-y+10% y-o-y
EBITDA and EBITDA margin, USD bn
202420232022202120255.75.26.98.710.541%41%48%52%59%+9% y-o-yEBITDAEBITDA margin0% p.p. y-o-y
Debt, USD bn
202420252023202220211.61.7х1.2х1.1х0.5х9.18.68.19.84.9+6% y-o-yNet debt/12M EBITDANet debt–0.1х y-o-y
CAPEX, USD bnFigures may not sum up due to rounding.
202520242023202220211.61.51.92.51.40.70.60.60.90.80.40.30.50.90.5Stay-in-businessGrowth and developmentSulphur Project2.42.63.04.32.8
Financial