Kocaeli-based Turkish steel wire and rope producer Çelik Halat ve Tel Sanayii Inc. has announced its financial results for the first half of the current year.
The company registered a net loss of TRY 28.06 million ($0.82 million) in the January-June period of the year, compared to a net loss of TRY 59.40 million recorded in the same period of the previous year, while its sales revenues decreased by 46.8 percent year on year to TRY 957.96 million ($28.05 million).
In the given period, Çelik Halat ve Tel Sanayii’s total steel rope sales value amounted to TRY 234.62 million ($6.87 million), falling by 2.7 percent, its galvanized wire sales increased sharply by 237.2 percent to TRY 129.23 million ($3.78 million), while its spring wire sales decreased by 76.7 percent to TRY 149.02 million ($4.36 million), all on year-on-year basis.
According to the company’s statement, in the first six months of the year Çelik Halat ve Tel Sanayii’s domestic sales moved down by 50.0 percent, while its overseas sales decreased by 41.4 percent, both on year-on-year basis. In the same period, the company’s domestic sales contributed 54.9 percent of its overall sales, from 58.7 percent recorded in the same period of 2023, while the share of its overseas sales increased to 45.1 percent, from 41.3 percent in the first six months of the previous year.
