Erdemir Group’s net profit improves in H1

Thursday, 06 August 2015 13:44:42 (GMT+3)   |   Istanbul
       

Turkish integrated steelmaker Erdemir Group has announced a net profit of TRY 441.7 million ($158.5 million) for the second quarter this year, rising by 28.13 percent year on year, while the company's sales revenues amounted to TRY 3.17 billion ($1.13 billion), up 17 percent compared to the corresponding quarter of the previous year. The company's operating income in the given quarter increased by 26 percent year on year to TRY 562.6 million ($201.8 million).
  
During the first six months, Erdemir Group’s net profit slightly increased by 0.3 percent to TRY 779.13 million ($279.55 million) compared to the corresponding period of the previous year. The company’s sales revenues amounted to TRY 6.06 billion ($2.17 billion), up 7.5 percent, while the operating profit increased by 8.6 percent to TRY 1.07 billion ($383.98 million), both year on year.

Regarding the operational results, in the first half Erdemir Group produced 4.37 million mt of crude steel, up 8.2 percent, including 1.93 million mt of crude steel produced at the Eregli works, up 3.5 percent, and 2.44 million mt at the Iskenderun works, up 12.2 percent, all year on year.
 
In the first six months of this year, the flat steel output of Erdemir Group increased by 12.66 percent to 3.78 million mt, while the company's long steel output amounted to 636,000 mt, up 16.7 percent, both year on year. Additionally, Erdemir Group's flat steel sales volumes increased by six percent year on year to 3.64 million mt, while its long steel sales volumes increased by 16.33 percent year on year to 648,000 mt.
 
In the January-June period, Erdemir Group exported 364,000 mt of steel products, including 271,000 mt of flat steel and 93,000 mt of long steel, accounting for eight percent of total sales. The steel producer exports flat products to 35 countries and long products to eight countries.


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