Erdemir posts financial results of nine-month period

Erdemir posts financial results of nine-month period

Turkey's sole flat producer Eregli Iron and Steel Works (Erdemir) has recently posted financial results regarding the first nine months of the year. According to the results released by Erdemir, the Erdemir Group achieved sales income of $2.15 billion in the first nine months of the year. Net profit of the group has been recorded as $426 million. The production figures of the all group, including Isdemir, Erdemir Romania SRL, Erdemir Steel Service Centre (EÇSM), Erdemir Engineering Management and Consulting Services (ERENCO), Seamless Steel Tube and Pipe Co (CELBOR), Erdemir Mining Industry and Erdemir Logistics A.S have reached 5.11 million tons. In 2003, sales income of the group was recorded as $2 billion and the net profit was recorded as $230 million. In the nine-month period, the leader of the group Erdemir reported a sales income of $1.4 billion and a net profit of $319 million. The production of the company increased to 2.68 million tons, up by 2% against the same period of previous year.