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 765.02 million ($41.1 million) for the given period, compared to a net profit of TRY 169.06 million in the first nine months of the previous year. In the January-September period, the sales revenue of the company amounted to TRY 2.51 billion ($134.9 million), rising by 147.3 percent year on year, while the company registered an operating profit of TRY 854.15 million ($45.89 million), increasing from the operating profit of TRY 225.5 million recorded in the same period of 2021.
In the first nine months of the current year, Çemtaş’ steel billet output totaled 124,197 mt, decreasing by 7.2 percent, while its rolled steel output fell by 8.2 percent to 111,314 mt, both year on year.
Meanwhile, in the first nine months, the company’s sales to the domestic market increased by 9.5 percent year on year to 83,096 mt, while its export sales fell by 25.6 percent to 30,803 mt compared to the same period last year.
The company forecasts that raw material and steel prices will rise with global energy prices increasing further in the coming months.