You are here: Home > Steel News > Latest Steel News > OYAK...

OYAK Mining Metallurgy Group’s posts net profit for H1

Friday, 16 August 2024 15:55:00 (GMT+3)   |   Istanbul
       

Turkish integrated steelmaker OYAK Mining and Metallurgy Group has announced its financial and operational results for the first half of this year.

In the given half, the company reported a net profit of TRY 10.39 billion ($308.29 million), compared to a net loss of TRY 3.99 billion in the same period last year, while its sales revenues amounted to TRY 100.22 billion ($2.97 billion), up by 57.5 percent year on year. OYAK Mining and Metallurgy Group’s operating income in the given quarter amounted to TRY 13.37 billion ($396.70 million), compared to an operating income of TRY 3.66 billion in the same period of the previous year.

Regarding the operational results, in the given period OYAK Mining and Metallurgy Group produced 4.44 million mt of crude steel, rising by 41.0 percent, including 1.76 million mt of crude steel produced at the Eregli works, and 2.68 million mt at the Iskenderun works.

In the given period, the flat steel output of OYAK Mining and Metallurgy Group increased by 17.5 percent to 3.58 million mt, while the company’s long steel output amounted to 450,000 mt, moving up by 125.0 percent, both year on year. Additionally, in the given period, the flat steel sales volumes of the company went up by 15.4 percent year on year to 3.49 million mt, while its long steel sales volumes grew by 147.8 percent year on year to 441,000 mt.

During the first half, the company exported 738,000 mt of finished steel to 34 countries.


Similar articles

US raw steel production is down 1.9 percent week-on-week

04 Nov | Steel News

S. Korea’s POSCO posts lower net profit and sales revenue for Q3

01 Nov | Steel News

TCUD: Turkey’s steel imports rises 4.8% in September

01 Nov | Steel News

US raw steel production is up 1.8 percent week-on-week

29 Oct | Steel News

CISA: Chinese key steel enterprises’ gross profits drop 56% in Jan-Sept, challenges persist

28 Oct | Steel News

Turkey’s OYAK Mining Metallurgy Group posts net profit for first nine months

24 Oct | Steel News

Russia’s MMK reports lower steel output and sales for Q3

24 Oct | Steel News

CISA mills’ daily steel output up 1.1% in mid-October, stocks also up

24 Oct | Steel News

German crude steel output increases by 4.0 percent in January-September

23 Oct | Steel News

World crude steel output down 4.7 percent in September

22 Oct | Steel News