Kardemir sees improved net profit in 2012

Turkish integrated long steel producer Kardemir Karabuk Demir Celik Sanayi ve Ticaret A.S. (Kardemir) has announced its financial results for the full year 2012.
 
In 2012, Kardemir posted a net profit of TRY 194.25 million ($107.8 million), increasing by 4.9 percent compared to the previous year. Sales revenues of the company increased by 6.02 percent year on year to TRY 1.68 billion ($936.17 million). The company registered an operating profit of TRY 220.74 million ($122.51 million), falling by five percent year on year.
 
In the given year, Kardemir produced 741,000 mt of metallurgical coke - up one percent, 1.5 million mt of crude steel - up 6.8 percent, and 113,883 mt of pig iron - increasing by 9.74 percent, all compared to 2011. Meanwhile, in the period in question, the company's billet output totaled 1.05 million mt, increasing by 4.9 percent, while its bloom output amounted to 401,832 mt, rising by 11.5 percent, both compared to the previous year.
 
During the given period, Kardemir's rebar output increased by 8.7 percent to 645,608 mt, its steel section production decreased by 20.45 percent to 105,242 mt, while its rail product output totaled 139,688 mt - up 46.7 percent, all compared to 2011.