Turkish integrated steelmaker OYAK Mining and Metallurgy Group has announced a net profit of TRY 3.32 billion ($584.98 million) for 2019, compared to a net profit of TRY 5.6 billion in 2018, while the company's sales revenues amounted to TRY 27.46 billion ($4.84 billion), up 1.7 percent compared to the previous year. The company's operating income in 2019 amounted to TRY 4.38 billion ($772.25 million), compared to an operating income of TRY 7.81 billion in the previous year.
Regarding the operational results, in the whole year OYAK Mining and Metallurgy Group produced 8.61 million mt of crude steel, down six percent, including 3.07 million mt of crude steel produced at the Eregli works, decreasing by nine percent, and 5.54 million mt at the Iskenderun works, declining by four percent, all year on year.
In 2019, the flat steel output of OYAK Mining and Metallurgy Group fell by 6.3 percent to 7.26 million mt, while the company's long steel output amounted to 1.03 million mt, up 4.7 percent, both year on year. Additionally, in the same period the flat steel sales volumes of the company decreased by 3.1 percent year on year to 7.25 million mt, while its long steel sales volumes increased by 15 percent year on year to 1.06 million mt.
In the given year, the company exported 1.72 million mt of steel products, including 1.5 million mt of flat steel and 219,000 mt of long steel, accounting for 21 percent of total sales. In the given period, the steel producer exported flat products to 52 countries and long products to 23 countries.