Turkish integrated long steel producer Kardemir Karabuk Demir Celik Sanayi ve Ticaret A.S. (Kardemir) has announced its financial results for 2017, posting a net profit of TRY 251.5 million ($65.9 million) compared to a net loss of TRY 123.87 million in 2016. Sales revenues of the company increased by 70 percent year on year to TRY 3.97 billion ($1.04 billion). The company's operating profit was TRY 499.05 million ($130.76 million) in the given year compared to TRY 136.48 million recorded in the previous year.
In the year in question, Kardemir produced 1.11 million mt of metallurgical coke - up 4.79 percent, 2.40 million mt of crude steel - up 10.6 percent, both on year-on-year basis. Meanwhile, in 2017 the company's billet output totaled 937,103 mt, falling by 9.8 percent from the previous year.
Kardemir's rebar output in the given year increased by 6.1 percent to 649,768 mt, while its rail product output totaled 117,543 mt - down 2.6 percent, both compared to the previous year. In 2017, Kardemir produced 283,351 mt of steel sections, rising by 19.7 percent year on year.