Kocaeli-based Turkish steel wire and rope producer Celik Halat ve Tel Sanayii Inc. has announced its financial results for the first quarter of the current year.
In the first quarter, Celik Halat ve Tel Sanayii recorded a net loss of TRY 1.81 million ($1 million), compared to a net profit of TRY 1 million in the corresponding quarter of 2012. The sales revenues of the company decreased by 15.9 percent year on year to TRY 27.35 million ($15.1 million). On the other hand, the producer recorded an operating loss of TRY 203,671 ($112,430) in the given period, compared to operating profit of TRY 1.3 million in the first quarter of the previous year.
During the first three months of the current year, Celik Halat ve Tel Sanayii produced 13,453 metric tons of steel products, decreasing by just 6.61 percent year on year.
In the given period, Celik Halat ve Tel Sanayii's steel rope output totaled 2,524 metric tons, rising by 1.12 percent, its galvanized wire production amounted to 394 metric tons, down one percent, spring wire output decreased by 14.12 percent to 1,781 metric tons, its bead wire production decreased by 30.5 percent to 1,598 metric tons, the company's pre-stressed wire strand production totaled 7,156 metric tons, increasing by seven percent, all compared to the first quarter of the previous year, while the company reported no single strand rope output in the given quarter.
In the first quarter, product sales of Celik Halat ve Tel Sanayi decreased by 7.2 percent year on year to 13,151 metric tons.