Turkish integrated steelmaker OYAK Mining and Metallurgy Group has announced its financial and operational results for the full year of 2024.
The company has reported a net profit of TRY 14.19 billion ($432.98 million) for 2024, up 227.8 percent compared to a net profit of TRY 4.33 billion in 2023, while the company’s sales revenues amounted to TRY 204.06 billion ($6.22 billion), up by 37.9 percent year on year. The company’s operating income in 2024 amounted to TRY 21.06 billion ($642.34 million), compared to an operating income of TRY 14.75 billion in 2023.
Regarding the operational results, in the given period OYAK Mining and Metallurgy Group produced 8.5 million mt of crude steel, up 19.0 percent due to the effects of the earthquakes in 2023 diminishing, including 3.2 million mt of crude steel produced at the Eregli works, up by 15.2 percent, and 5.3 million mt at the Iskenderun works, increasing by 21.5 percent, all year on year.
In 2024, the flat steel output of OYAK Mining and Metallurgy Group increased by 6.2 percent to 7.12 million mt, while the company’s long steel output amounted to 965,000 mt, growing by 48.0 percent, both year on year. Additionally, in the given period, the flat steel sales volumes of the company went up by 6.1 percent year on year to 7.09 million mt, while its long steel sales volumes increased by 47.4 percent year on year to 957,000 mt.
The group stated that it exported 1.52 million mt of flat products and 14,000 mt of long products in 2024, with exports making up 19.0 percent of all sales.
