Turkish integrated steelmaker OYAK Mining and Metallurgy Group has announced its financial and operational results for the first nine months of the current year.
The company reported a net profit of TRY 15.43 billion ($973.57 million) for the first nine months this year, compared to a net profit of TRY 11.26 billion in the same period of last year, while the company’s sales revenues amounted to TRY 100.53 billion ($6.34 billion), up by 133.4 percent year on year. The company’s operating income in the first nine months amounted to TRY 23.32 billion ($1.47 billion), compared to an operating income of TRY 15.6 billion in the first nine months of the previous year.
Regarding the operational results, in the given period OYAK Mining and Metallurgy Group produced 6.0 million mt of crude steel, decreasing by 11.8 percent, including 2.32 million mt of crude steel produced at the Eregli works, falling by 9.5 percent, and 3.68 million mt at the Iskenderun works, falling by 13.2 percent, all year on year.
In the first nine months this year, the flat steel output of OYAK Mining and Metallurgy Group decreased by 3.5 percent to 5.49 million mt, while the company’s long steel output amounted to 617,000 mt, increasing by 9.9 percent, both year on year. Additionally, in the given period, the flat steel sales volumes of the company went down by 6.2 percent year on year to 5.19 million mt, while its long steel sales volumes rose by 13.0 percent year on year to 623,000 mt.
During the given period, the company exported 875,000 mt of steel products, including 812,000 mt of flat steel and 63,000 mt of long steel, with exports accounting for 15 percent of total sales. In the given period, the steel producer exported flat products to 25 countries and long products to 11 countries.