Turkish integrated long steel producer Kardemir Karabuk Demir Celik Sanayi ve Ticaret A.S. (Kardemir) has announced its financial results for 2015, posting a net loss of TRY 21.4 million ($7.44 million) compared to a net profit of TRY 369.8 million in 2014. Sales revenues of the company increased by 1.9 percent year on year to TRY 2.23 billion ($775.9 million). The company's operating profit declined by 81.4 percent year on year to TRY 82.6 million ($28.7 million).
In 2015, Kardemir produced 1.15 million mt of metallurgical coke - up 15.5 percent, 2.15 million mt of crude steel - up 17.6 percent, both on year-on-year basis, and 55,223 mt of pig iron, increasing from the 5,708 mt recorded in 2014. Meanwhile, in 2015 the company's billet output totaled 985,248 mt, rising by three percent, while its bloom output amounted to 1.14 million mt, up 33.2 percent, both compared to 2014.
Kardemir's rebar output in 2015 increased by approximately one percent to 674,437 mt, while its rail product output totaled 169,748 mt - down 27.6 percent, both compared to the previous year. In 2015, Kardemir produced 151,742 mt of steel sections, decreasing by 29 percent year on year.