Bursa-based Turkish steelmaker Çemtaş Çelik Makina Sanayi ve Ticaret A.Ş (Cemtas) has announced its financial and operational results for the first half of the current year.
In the given period, the company reported a net profit of TRY 26.01 million ($764,709) for the given period, compared to a net profit of TRY 95.47 million in the first half of the previous year, while its sales revenues amounted to TRY 2.84 billion ($83.50 million), falling by 8.7 percent year on year. Moreover, Çemtaş registered an operating profit of TRY 418.11 million ($12.29 million), decreasing from the operating profit of TRY 454.87 million recorded in the same period of 2023.
In the first six months of the current year, the company’s steel billet output totaled 82,663 mt, rising by 10.8 percent, while its rolled steel output grew by 8.3 percent to 75,202 mt, both on year-on-year basis.
Meanwhile, in the first half, Çemtaş’s sales to the domestic market moved up by 5.1 percent year on year to 52,219 mt, while its export sales increased by 41.0 percent to 22,086 mt compared to the same period last year.