Kocaeli-based Turkish steel wire and rope producer Çelik Halat ve Tel Sanayii A.Ş. has announced its financial results for the full year of 2024.
In the given year, the company registered a net loss of TRY 128.29 million ($3.52 million), compared to a net profit of TRY 52.91 million recorded in the previous year, while its sales revenues decreased by 33.0 percent year on year to TRY 1.64 billion ($44.97 million). In addition, Çelik Halat ve Tel Sanayii’s operating loss came to TRY 161.80 million ($4.44 million), compared to an operating profit of TRY 19.36 million recorded in 2023.
In 2024, the company’s total steel rope sales value amounted to TRY 786.87 million ($21.58 million), down by 28.9 percent, while its galvanized wire sales rose by 9.6 percent to TRY 174.48 million ($4.78 million) and its spring wire sales dropped by 33.3 percent to TRY 337.38 million ($9.25 million), all on year-on-year basis.
Meanwhile, in the full year, Çelik Halat ve Tel Sanayii’s domestic sales moved down by 41.0 percent, while its overseas sales decreased by 23.4 percent, both on year-on-year basis.