Erdemir announces 2002 financial statement for Isdemir
Isdemir's (formerly known as TDCI) 2002 financial results have been approved during the ordinary general board meeting held on February 24, 2003. According to these figures, Isdemir concluded year 2002 with a total net loss of TL 60.72 trillion (approx. $37.5 million). TL 28.5 trillion of this amount belongs to January 2002 and the remaining TL 32.20 trillion to the 11 months period starting from February, the date Isdemir was taken over by
Erdemir. In year 2001, the recorded net loss of the company was TL 235 trillion.
It was previously decided to increase Isdemir's captital and bring it to TL 750 trillion (approx. $460 million) from the current level of TL 610 trillion (approx. $370 million).