Turkish rebar producer Izmir Demir Çelik Sanayi A.Ş. (IDC) has announced its financial results for the full year of 2015.
Accordingly, in 2015 IDC registered a net loss of TRY 203.3 million ($69.6 million), compared to a net loss of TRY 25.8 million in 2014. In the year in question, the company's sales revenues decreased by 2.74 percent year on year to TRY 2.07 billion ($709.4 million). In the given year, IDC recorded an operating profit of TRY 51.4 million ($17.6 million), compared to an operating loss of TRY 45.8 million in the previous year.
IDC said that in 2015 its steel billet output increased by one percent to 1.2 million mt, while its rebar production amounted to 858,353 mt, rising six percent, both year on year. Besides, 330,750 mt of rebar was also produced by the company's contractual partners in the given year, with a year-on-year decline of two percent. During the same year, the company produced 265,894 mt of steel sections at its medium section mill, up 27 percent year on year.
The company also stated that it focused on domestic sales in 2015 because of the contraction in the export markets.