Kocaeli-based Turkish steel wire and rope producer Celik Halat ve Tel Sanayii Inc. has announced its financial results for the third quarter and the first nine months of 2012.
In the third quarter, Celik Halat ve Tel Sanayii posted a net loss of TRY 609,829 ($385,139), compared to a net loss of TRY 115,639 in the same quarter of 2011. The sales revenues of the company decreased to TRY 28.15 million ($15.7 million), down 19.2 percent year on year. On the other hand, the producer recorded an operating profit of TRY 382,909 ($213,512) in the given quarter, down 71.4 percent compared to the third quarter of the previous year.
In the first nine months of the current year, the Turkish steelmaker registered a net profit of TRY 1.36 million ($1.14 million), compared to a net loss of TRY 632,090 in the given period of the previous year. In January-September, sales revenues amounted to TRY 90.68 million ($50.6 million), down 3.8 percent, while the operating profit decreased by 51.5 percent to TRY 2.5 million ($1.4 million), both year on year.
In January-September of the current year, Celik Halat ve Tel Sanayii produced 38,781 metric tons of steel products, up 3.55 percent year on year.
In the given period, Celik Halat ve Tel Sanayii's steel rope output totaled 7,104 metric tons, rising by 7.9 percent, its galvanized wire production amounted to 1,022 metric tons, up 12.07 percent, spring wire output increased by 28.2 percent to 5,207 metric tons, its bead wire production decreased by 43.6 percent to 5,188 metric tons, the company's single strand rope output totaled 465 metric tons, down 69.8 percent, while its pre-stressed wire strand production totaled 19,795 metric tons, increasing by 30.6 percent, all compared to the corresponding period of 2011.
In the first nine months of 2012, product sales of Celik Halat ve Tel Sanayi increased by 5.09 percent year on year to 39,201 metric tons. According to the company's statement, exports accounted for 35 percent of the company's total sales in the given period.