Turkish rebar producer İzmir Demir Çelik Sanayi A.Ş. (IDC) has announced its financial and operational results for 2023.
Accordingly, in the given year the company registered a net profit of TRY 1.19 billion ($66.88 million), compared to a net profit of TRY 4.63 billion in 2022. In the same period, IDC’s sales revenues declined by 24.8 percent year on year to TRY 35.51 billion ($1.10 billion), while it reported an operating profit of TRY 856.25 million ($26.54 million), compared to an operating profit of TRY 3.17 billion in the previous year.
IDC said that last year its steel billet output rose by two percent to 1.41 million mt, while its rebar production totaled 821,205 mt, falling by nine percent, both year on year. Additionally, 358,011 mt of rebar was also produced by the company’s contractual partners, with a year-on-year increase of one percent. In the given period, the company produced 270,145 mt of steel sections, down by three percent year on year.
In 2023, IDC’s finished steel sales decreased by six percent to 1.43 million mt, while its export sales moved up by 18.0 percent to 351,914 mt, both year on year.