Turkish integrated long steel producer Kardemir Karabuk Demir Celik Sanayi ve Ticaret A.S. (Kardemir) has announced its financial results for 2014, posting a net profit of TRY 331 million ($133.8 million), up 230.5 percent compared to the previous year. Sales revenues of the company increased by 21.4 percent year on year to TRY 2.2 billion ($888.7 million). The company's operating profit rose by 102.4 percent year on year to TRY 401 million ($161.8 million).
In 2014, Kardemir produced 996,000 mt of metallurgical coke - up 24.34 percent, 1.65 million mt of crude steel - up 4.73 percent, and 5,708 mt of pig iron - decreasing by 83.4 percent, all on year-on-year basis. Meanwhile, in the period in question, the company's billet output totaled 930,357 mt, falling by 4.3 percent, while its bloom output amounted to 859,798 mt, rising by 24.4 percent, both compared to 2013.
Kardemir's rebar output in 2014 increased by 6.17 percent to 669,480 mt, while its rail product output totaled 132,993 mt - down 30.4 percent, both compared to the previous year. During 2014, Kardemir produced 213,637 mt of steel sections, rising by 70.5 percent year on year.