Turkish integrated steelmaker Erdemir Group has announced a net profit of TRY 309 million ($107.96 million) for the third quarter and first nine months of the currrent year, decreasing by 29.35 percent year on year, while the company's sales revenues amounted to TRY 2.85 billion ($995.75 million), down 3.44 percent compared to the corresponding quarter of the previous year. The company's operating income in the third quarter this year decreased by 18.9 percent year on year to TRY 468.11 million ($169.82 million).
During the first nine months, Erdemir Group’s net profit decreased by 10.4 percent to TRY 1.08 billion ($377.3 million) compared to the corresponding period of the previous year. The company’s sales revenues amounted to TRY 8.91 billion ($3.11 billion), up 3.7 percent, while its operating profit decreased by 1.6 percent to TRY 1.53 billion ($534.3 million), both year on year.
Regarding the operational results, in the first nine months this year Erdemir Group produced 6.67 million mt of crude steel, up 7.1 percent, including 2.88 million mt of crude steel produced at its Eregli works, up 3.6 percent, and 3.8 million mt at its Iskenderun works, up 10.1 percent, all year on year.
In the January-September period of this year, the flat steel output of Erdemir Group increased by 6.42 percent to 5.55 million mt, while the company's long steel output amounted to 1.04 million mt, up 27.7 percent, both year on year. Additionally, Erdemir Group's flat steel sales volumes increased by 1.25 percent year on year to 5.3 million mt, while its long steel sales volumes rose by 19.6 percent year on year to 1.01 million mt.
In the first nine months of the year, Erdemir Group exported 558,000 mt of steel products, including 427,000 mt of flat steel and 131,000 mt of long steel, with these exports accounting for eight percent of its total sales. The steel producer exports flat products to 39 countries and long products to eight countries.