Turkish integrated steelmaker OYAK Mining and Metallurgy Group has announced its financial and operational results for the first nine months of the current year.
The company has reported a net loss of TRY 3.82 billion ($173.15 million) for the first nine months this year, compared to a net profit of TRY 15.43 billion in the same period of last year, while the company’s sales revenues amounted to TRY 101.01 billion ($4.57 billion), up by 0.4 percent year on year. The company’s operating income in the first nine months amounted to TRY 9.68 billion ($438.34 million), compared to an operating income of TRY 23.32 billion in the first nine months of the previous year.
Regarding the operational results, in the given period OYAK Mining and Metallurgy Group produced 5.0 million mt of crude steel, decreasing by 16.6 percent due to the suspension of production at İsdemir because of the earthquakes in February this year, including 2.0 million mt of crude steel produced at the Eregli works, falling by 14.0 percent, and 2.97 million mt at the Iskenderun works, falling by 19.0 percent, all year on year.
In the first nine months this year, the flat steel output of OYAK Mining and Metallurgy Group decreased by 11.3 percent to 4.87 million mt, while the company’s long steel output amounted to 420,000 mt, decreasing by 31.9 percent, both year on year. Additionally, in the given period, the flat steel sales volumes of the company went down by 7.6 percent year on year to 4.8 million mt, while its long steel sales volumes fell by 34.2 percent year on year to 410,000 mt.