OYAK Mining Metallurgy Group sees higher sales revenues in Jan-Sept

Wednesday, 27 October 2021 11:28:59 (GMT+3)   |   Istanbul
       

Turkish integrated steelmaker OYAK Mining and Metallurgy Group has announced a net profit of TRY 11.26 billion ($1.39 billion) for the first nine months this year, compared to a net profit of TRY 1.55 billion ($230.58 million) in the same period last year, while the company’s sales revenues amounted to TRY 43.06 billion ($5.32 billion), up 96.3 percent year on year. The company’s operating income in the first nine months amounted to TRY 15.60 billion ($1.93 billion), compared to an operating income of TRY 3.41 billion ($508.38 million) in the same period of the previous year.

Regarding the operational results, in the given period OYAK Mining and Metallurgy Group produced 6.8 million mt of crude steel, increasing by five percent, including 2.6 million mt of crude steel produced at the Eregli works, falling by six percent, and 4.2 million mt at the Iskenderun works, rising by 13 percent, all year on year.

In the first nine months this year, the flat steel output of OYAK Mining and Metallurgy Group increased by 4.9 percent to 5.69 million mt, while the company’s long steel output amounted to 561,000 mt, decreasing by 27.4 percent, both year on year. Additionally, in the given period, the flat steel sales volumes of the company went up by 3.7 percent year on year to 5.59 million mt, while its long steel sales volumes declined by 28.8 percent year on year to 551,000 mt.

During the given period, the company exported 1.1 million mt of steel products, including 1.08 million mt of flat steel and 13,000 mt of long steel, with exports accounting for 18 percent of total sales. In the given period, the steel producer exported flat products to 35 countries and long products to six countries.


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