Turkey-based Çemtaş’ sales revenues rise by 91.6 percent in 2021

Friday, 11 February 2022 11:22:08 (GMT+3)   |   Istanbul

Bursa-based Turkish steelmaker Çemtaş Çelik Makina Sanayi ve Ticaret A.Ş (Cemtas) has announced its financial and operational results for 2021.

Accordingly, Çemtaş has reported a net profit of TRY 403.32 million ($29.7 million) for the given period, compared to a net profit of TRY 138.82 million in 2020. In 2021, the sales revenue of the company amounted to TRY 1.5 billion ($111.37 million), rising by 91.6 percent year on year, while the company registered an operating profit of TRY 481.69 million ($35.51 million), increasing from the operating profit of TRY 113.56 million recorded in 2020.

In 2021, Çemtaş’ steel billet output totaled 180,772 mt, increasing by 12.7 percent, while its rolled steel output rose by 11.6 percent to 166,527 mt, both year on year.

Meanwhile, in the full year the company’s sales to the domestic market increased by 11.5 percent year on year to 106,300 mt, while its export sales fell by 4.9 percent to 49,388 mt compared to last year.

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