Turkish integrated steelmaker
Erdemir Group has announced a net profit of TRY 337.4 million ($137.4 million) for the first quarter this year, falling 21.9 percent year on year, while the company's sales revenues amounted to TRY 2.9 billion ($1.17 billion), down 1.32 percent compared to the corresponding quarter of the previous year. The company's operating income in the given quarter decreased by 5.9 percent year on year to TRY 505.9 million ($206.1 million).
Regarding the operational results, in the first quarter
Erdemir Group produced 2.04 million mt of crude steel, down two percent, including 964,000 mt of crude steel produced at the Eregli works, up 3.6 percent, and 1.08 million mt at the Iskenderun works, down 6.4 percent, all year on year.
In the first quarter this year, the flat steel output of
Erdemir Group increased by 8.8 percent to 1.8 million mt, while the company's long steel output amounted to 242,000 mt, down 23.6 percent, both year on year. Additionally,
Erdemir Group's flat steel sales volumes increased by 4.66 percent year on year to 1.75 million mt, while its long steel sales volumes decreased by 31.25 percent year on year to 242,000 mt.
In the January-March period,
Erdemir Group exported 132,000 mt of steel products, including 104,000 mt of flat steel and 28,000 mt of long steel, accounting for seven percent of total sales. The steel producer exports flat products to 25 countries and long products to six countries.
According to
Erdemir Group, during the first three months of the current year, the end-user industries in
Turkey showed a healthy demand, and in the automotive industry steel consumption increased in line with the automobile production volume.