OYAK Mining Metallurgy Group sees better net profit and revenues in H1

Tuesday, 10 August 2021 16:39:39 (GMT+3)   |   Istanbul

Turkish integrated steelmaker OYAK Mining and Metallurgy Group has announced a net profit of $770 million for the first half this year, compared to a net profit of $143 million in the same quarter last year, while the company’s sales revenues amounted to $3.15 billion, up 80 percent year on year. The company’s operating income in the first half amounted to $1.09 billion, compared to an operating income of $302.15 million in the first half of the previous year.

Regarding the operational results, in the given period OYAK Mining and Metallurgy Group produced 4.5 million mt of crude steel, increasing by eight percent, including 1.7 million mt of crude steel produced at the Eregli works, falling by eight percent, and 2.8 million mt at the Iskenderun works, rising by 21 percent, all year on year.

In the first half this year, the flat steel output of OYAK Mining and Metallurgy Group increased by 5.6 percent to 3.74 million mt, while the company’s long steel output amounted to 404,000 mt, decreasing slightly, both year on year. Additionally, in the given period, the flat steel sales volumes of the company went up by 4.4 percent year on year to 3.64 million mt, while its long steel sales volumes declined by 16 percent year on year to 380,000 mt.

During the given period, the company exported 619,000 mt of steel products, including 606,000 mt of flat steel and 13,000 mt of long steel, with exports accounting for 15 percent of total sales. In the given period, the steel producer exported flat products to 32 countries and long products to six countries.

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