Bursa-based Turkish steelmaker Çemtaş Çelik Makina Sanayi ve Ticaret A.Ş (Cemtas) has announced its financial and operational results for the first nine months of the current year.
Accordingly, Çemtaş has reported a net profit of TRY 790.53 million ($28.05 million) for the given period, compared to a net profit of TRY 765.02 million in the first nine months of the previous year. In the January-September period, the sales revenue of the company amounted to TRY 2.82 billion ($100.08 million), rising by 12.3 percent year on year, while the company registered an operating profit of TRY 739.5 million ($26.24 million), decreasing from the operating profit of TRY 854.15 million recorded in the same period of 2022.
In the first nine months of the current year, Çemtaş’ steel billet output totaled 113,350 mt, decreasing by 8.7 percent, while its rolled steel output fell by 6.7 percent to 103,768 mt, both year on year.
Meanwhile, in the first nine months, the company’s sales to the domestic market decreased by 9.4 percent year on year to 75,225 mt, while its export sales fell by 14.6 percent to 26,309 mt compared to the same period last year.
The company will build a solar power plant in Kars in northeastern Turkey with an installed capacity of 32 MWe and scheduled to be commissioned in the fourth quarter of 2024, in order to achieve its sustainability targets and reduce its carbon footprint amid high energy costs, as SteelOrbis previously reported.
