Turkey-based Cemtas’ sales revenues up 53.8 percent in 2017

Wednesday, 14 February 2018 16:06:03 (GMT+3)   |   Istanbul
       

Bursa-based Turkish steelmaker Cemtas Celik Makina Sanayi ve Ticaret A.S (Cemtas) has announced its financial results for 2017.

Cemtas has reported a net profit of TRY 90.96 million ($23.93 million) for 2017, compared to a net profit of TRY 28.7 million recorded in 2016. In the given year, the sales revenues of the company amounted to TRY 456.46 million ($120.11 million), rising by 53.8 percent year on year, while its operating income was TRY 70.03 million ($18.61 million), increasing from an operating income of TRY 33.18 million in the previous year.

In 2017, Cemtas's steel billet output totaled 174,019 mt, increasing by 8.5 percent, while its rolled steel output rose by 7.5 percent to 162,211 mt, both compared to the previous year.

According to Cemtas, graphite electrode prices increased in the second half of the year, due to the shortage of supply and increased raw material (needle coke) prices, which also pushed up its steel costs. Cemtas expects the electrode shortage to continue in the current year. However, the company also stated that it believes that this year will be a successful year, like 2017, with its cost-cutting and productivity-enhancing investments.


Similar articles

Turkey-based Çemtaş posts lower net profit and sales revenues for 2023

08 Mar | Steel News

Turkey-based Çemtaş’ net profit and sales revenues increase in Jan-Sept

27 Oct | Steel News

Turkish steelmaker Çemtaş sees lower net profit in Q1

11 May | Steel News

Turkey-based Çemtaş posts higher net profit and sales revenues for 2022

27 Feb | Steel News

Turkey-based Çemtaş’ sales revenues up 186.4 percent in H1

04 Aug | Steel News

Turkey’s Cemtas’ sales revenues up ten percent in Q1

05 May | Steel News

Turkey’s Cemtas’ sales revenues up 65.5 percent in H1

10 Aug | Steel News

Turkey’s Cemtas’ sales revenues up 72.6 percent in Q1

30 Apr | Steel News

Turkey’s Cemtas posts increase in net profit for January-September

31 Oct | Steel News

Turkey’s Cemtas records increased net profit in H1

04 Aug | Steel News