Bursa-based Turkish steelmaker Cemtas Celik Makina Sanayi ve Ticaret A.S (Cemtas) has announced its financial results for the first quarter of the current year.
Accordingly, Cemtas has reported a net profit of TRY 23.61 million ($5.84 million) for the given quarter, compared to a net profit of TRY 13.79 million in the first quarter of the previous year. In the first quarter this year, the sales revenue of the company amounted to TRY 170.82 million ($42.29 million), rising by 72.6 percent year on year, while the company registered an operating profit of TRY 33.25 million ($8.23 million), increasing from the operating profit of TRY 19.57 million recorded in the same period of 2017.
In the first three months of the current year, Cemtas' steel billet output totaled 45,605 mt, increasing by 6.4 percent, while its rolled steel output rose by 3.6 percent to 42,066 mt, both year on year.
Meanwhile, in the first quarter, the company’s sales to the domestic market increased by 23.7 percent year on year to 28,226 mt, while its export sales rose by 3.7 percent to 16,583 mt compared to the same period last year.