Turkish integrated long steel producer Kardemir Karabuk Demir Celik Sanayi ve Ticaret A.S. (Kardemir) has announced its financial results for 2018.
In 2018, Kardemir registered a net profit of TRY 814.25 million, up 223 percent compared to the the previous year. Sales revenues of the company increased by 40.5 percent year on year to TRY 5.58 billion. The company registered an operating profit of TRY 1.6 billion, up 226 percent compared to 2017.
In 2018, Kardemir produced 2.41 million mt of crude steel, slightly up from 2.4 million mt and 2.18 million rising from 2.16 million, both compared to the previous year.
Kardemir's rebar output in the given period fell by 19 percent to 525,534 mt, while its rail product output totaled 80,113 mt, down 31.6 percent, both compared to the previous year. During the given period, Kardemir produced 325,486 mt of steel sections, down by 14.8 percent year on year.