Bursa-based Turkish steelmaker Cemtas Celik Makina Sanayi ve Ticaret A.S (Cemtas) has announced its financial results for the first quarter of the current year.
Cemtas has reported a net profit of TRY 5.93 million ($2 million) for the given quarter, compared to a net loss of TRY 200,000 in the first quarter of the previous year. In the first quarter this year, the sales revenue of the company amounted to TRY 66 million ($22.35 million), rising 30 percent year on year, while it registered an operating profit of TRY 6.67 ($2.26 million), compared to an operating loss of TRY 318,649 in the same period of 2015.
In the January-March period this year, Cemtas' steel billet output totaled 39,500 mt, increasing by 51 percent, while its rolled steel output rose by 87 percent to 38,546 mt, both compared to the corresponding quarter of the previous year.
Meanwhile, in the given quarter, the company’s sales to the domestic market increased by 43 percent to 19,121 mt year on year, while its export sales rose by 31 percent to 16,606 mt compared to the same quarter of 2015.