Turkish integrated long steel producer Kardemir has posted its consolidated financial and operational results for 2010, reporting a profit following the strong loss it recorded in 2009.
Kardemir's 2010 sales revenues rose from TRY 793.56 million in 2009 to TRY 1.01 billion ($636.3 million). The company recorded a full year net profit of TRY 21.08 million ($12.28 million), following a consolidated net loss of TRY 72.28 million in 2009.
The long steel producer produced 1.14 million mt of saleable steel products in 2010, up from 1.09 million mt in the previous year. Kardemir's 1.145 million mt capacity meltshop used 99.1 percent of its capacity in 2010, while its rolling mill worked with an 80.3 percent capacity utilization. The same data stood at 95.6 percent and 71.4 percent in 2009, respectively.
Meanwhile, Kardemir increased its total sales tonnage to 1.14 million mt in 2010 from 1.04 million mt in 2009.