Turkish integrated long steel producer Kardemir Karabuk Demir Celik Sanayi ve Ticaret A.S. (Kardemir) has announced its financial and operational results for the first nine months of this year.
In the first nine months of the year, Kardemir achieved a net profit of TRY 2.39 billion ($128.5 million) compared to a net profit of TRY 2.13 billion in the same period last year. The company registered an operating profit of TRY 2.91 billion ($156.36 million) in the first nine months, up by 1.5 percent year on year. Kardemir’s sales revenues increased by 95.8 percent year on year to TRY 19.68 billion ($1.05 billion).
In the given period, Kardemir produced 1.62 million mt of crude steel, down by 13.3 percent, while its pig iron production totaled 1.45 million mt, up by 15.5 percent, both on year-on-year basis. Meanwhile, the company stated that its product sales volume amounted to 1.52 million mt in the first nine months, falling by 13.0 percent year on year.