Kardemir’s sales revenues up 4.74 percent in 2016

Turkish integrated long steel producer Kardemir Karabuk Demir Celik Sanayi ve Ticaret A.S. (Kardemir) has announced its financial results for 2016, posting a net loss of TRY 123.87 million ($33.26 million) compared to a net loss of TRY 21.4 million in 2015. Sales revenues of the company increased by 4.74 percent year on year to TRY 2.33 billion ($627.55 million). The company's operating profit rose by 70.8 percent year on year to TRY 136.48 million ($51.6 million).

   

In 2016, Kardemir produced 1.06 million mt of metallurgical coke - down 7.5 percent, 2.17 million mt of crude steel - up one percent, both on year-on-year basis, and 12,149 mt of pig iron, decreasing from the 55,223 mt recorded in 2015. Meanwhile, in 2016 the company's billet output totaled 942,425 mt, falling by 1.3 percent, while its bloom output amounted to 1.18 million mt, up 3.82 percent, both compared to 2015.

 

Kardemir's rebar output in 2016 decreased by 9.2 percent to 612,420 mt, while its rail product output totaled 120,704 mt - down 28,9 percent, both compared to the previous year. In 2016, Kardemir produced 236,691 mt of steel sections, decreasing by 56 percent year on year.