Bursa-based Turkish steelmaker Cemtas Celik Makina Sanayi ve Ticaret A.S (Cemtas) has announced its financial results for 2014.
Cemtas has reported a net profit of TRY 15.7 million ($ 6.4 million) for 2014, increasing by 15.9 percent year on year. In the given year, the sales revenue of the company amounted to TRY 257.67 million ($ 105.16 million), rising by 16.13 percent year on year, while its operating income was TRY 15.04 million ($ 6.13 million), declining by 22.5 percent compared to 2013.
In 2014, Cemtas's steel billet output totaled 141,659 mt, increasing by 4.54 percent, while its rolled steel output rose by 3.5 percent to 129,401 mt, both compared to the previous year.
According to Cemtas, in 2014 the Turkish automotive industry increased its output by four percent offset by a decline of 10 percent seen in the domestic market sales. In the given year, Cemtas's domestic sales reached 59,037 mt, increasing by 8.8 percent, while its international sales were recorded at 66,526 mt, declining by 1.45 percent, both year on year.