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Turkey’s Kardemir reports lower net loss and sales revenues for Jan-Sept

Monday, 11 November 2024 15:23:53 (GMT+3)   |   Istanbul
       

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 given period, the company achieved a net loss of TRY 2.96 billion ($86.18 million), compared to a net loss of TRY 3.19 billion in the same period of 2023, while its sales revenues declined by 21.3 percent year on year to TRY 41.02 billion ($1.19 billion). In addition, Kardemir’s operating loss came to TRY 1.04 billion ($30.28 million), compared to an operating loss of TRY 2.71 billion in the first nine months of last year.

In the January-September period, the company produced 1.87 million mt of crude steel, up by 3.8 percent, while its pig iron production totaled 1.73 million mt, rising by 4.8 percent, both on year-on-year basis. Meanwhile, Kardemir stated that its product sales volume amounted to 1.71 million mt, increasing by 1.6 percent year on year.


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