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.
Accordingly, Çemtaş has reported a net profit of TRY 425.96 million ($15.75 million) for the given period, compared to a net profit of TRY 505.6 million in the first half of the previous year. In the first half this year, the sales revenue of the company amounted to TRY 1.7 billion ($62.9 million), falling by 1.8 percent year on year, while the company registered an operating profit of TRY 384.95 million ($14.22 million), decreasing from the operating profit of TRY 639.88 million recorded in the same period of 2022.
In the first six months of the current year, Çemtaş’ steel billet output totaled 74,581 mt, decreasing by 17.2 percent, while its rolled steel output fell by 15.5 percent to 69,415 mt, both year on year.
Meanwhile, in the first half, the company’s sales to the domestic market decreased by 15.2 percent year on year to 49,697 mt, while its export sales fell by 28.4 percent to 15,666 mt compared to the same period last year.
Çemtaş stated that energy prices will continue to play a determining role in production costs, though the prices have decreased. In the third quarter, steel and raw material prices will depend on steel demand, the company noted.
