Cemtas’ sales revenue declines in 2019 amid falling exports

Friday, 14 February 2020 13:58:28 (GMT+3)   |   Istanbul

Bursa-based Turkish steelmaker Cemtas has announced its financial results for 2019.

In the given year, Cemtas registered a net profit of TRY 56.45 million ($9.31 million) compared to TRY 146.27 million in 2018. Last year, sales revenue of the company amounted to TRY 693 million ($114.4 million), falling by 9.4 percent from TRY 765 million in the previous year, while the company registered an operating profit of TRY 49.32 million ($8.14 million), decreasing from TRY 191.1 million in 2018.

In 2019, Cemtas’ steel billet output totaled 145,675 mt, compared to 180,595 mt in 2018, declining by 19.34 percent, while its rolled steel output was 138,493 mt, down by 15.51 percent from 163,914 mt recorded in the previous year.

Meanwhile, in the given year, the company’s sales to the domestic market rose by 1.24 percent to 91,730 mt, while its export sales decreased by 27.4 percent to 49,906 mt, both on year-on-year basis.

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