Kardemir posts fall in net profit for 2013

Turkish integrated long steel producer Kardemir Karabuk Demir Celik Sanayi ve Ticaret A.S. (Kardemir) has announced its financial results for 2013, posting a net profit of TRY 100 million ($45.7 million), falling by 48.5 percent compared to the previous year. Sales revenues of the company increased by 7.44 percent year on year to TRY 1.81 billion ($828.3 million). The company registered an operating profit of TRY 198.12 million ($90.66 million) in the given year, declining by 10.2 percent year on year.
 
In 2013, Kardemir produced 801,000 mt of metallurgical coke - up 8.1 percent, 1.7 million mt of crude steel - up 14.05 percent, and 34,376 mt of pig iron - decreasing by 69.8 percent, all on year-on-year basis. Meanwhile, in the period in question, the company's billet output totaled 971,928 mt, declining by eight percent, while its bloom output amounted to 691,204 mt, rising by 72 percent, both compared to 2012.
 
Kardemir's rebar output in 2013 decreased by 2.33 percent to 630,548 mt, its steel section production increased by 19 percent to 125,295 mt, while its rail product output totaled 191,068 mt - up 36.7 percent, all compared to 2012.