Turkish integrated steelmaker Erdemir Group has announced a net profit of TRY 825.26 million ($215.73 million) for the third quarter of the current year, increasing by 60 percent year on year, while the company's sales revenues amounted to TRY 4.36 billion ($1.14 billion), up 61.5 percent compared to the corresponding quarter of the previous year. The company's operating income in the third quarter this year rose by 50.2 percent year on year to TRY 1.03 billion ($270.65 million).
During the first nine months, Erdemir Group’s net profit increased by 162 percent to TRY 2.65 billion ($694.57 million) compared to the corresponding period of the previous year. The company’s sales revenues amounted to TRY 13.23 billion ($3.46 billion), up 66.5 percent, while its operating profit rose by 148.6 percent to TRY 3.26 billion ($855.04 million), both year on year.
Regarding the operational results, in the first nine months this year Erdemir Group produced 6.85 million mt of crude steel, up one percent, including 2.63 million mt of crude steel produced at its Eregli works, down two percent, and 4.22 million mt at its Iskenderun works, up three percent, all year on year.
In the January-September period of this year, the flat steel output of Erdemir Group decreased by 6.88 percent to 5.72 million mt, while the company's long steel output amounted to 993,000 mt, down 12 percent, both year on year. Additionally, Erdemir Group's flat steel sales volumes rose by 7.14 percent year on year to 5.59 million mt, while its long steel sales volumes fell by 10.8 percent year on year to one million mt.
In the first nine months of the year, Erdemir Group exported 948,000 mt of steel products, including 821,000 mt of flat steel and 127,000 mt of long steel, with these exports accounting for 14 percent of its total sales. The steel producer exports flat products to 35 countries and long products to 15 countries.