Turkey’s Cemtas increases its sales in Q1 2010, returns to profit

On May 6, Bursa-based Turkish steelmaker Cemtas Celik Makina Sanayi ve Ticaret A.S (Cemtas) announced its operational and financial results for the first quarter of 2010.
 
Accordingly, in Q1 2010, Cemtas' sales revenue totaled TRY 37.32 million ($23.83 million), increasing by 94.8 percent, while its profit amounted to TRY 324,550 (approx. $207,200), compared to a loss of TRY 298,945 in Q1 2009.
 
In the quarter in question, Cemtas' steel billet output totaled 34,523 metric tons, improving by 88 percent year on year, while its rolled steel output rose by 82 percent year on year, amounting to 29,951 metric tons.
 
In the given period, Cemtas' total sales amounted to 31,000 metric tons, climbing by 129,98 percent compared to the corresponding period of previous year. Of the total sales volume, 10,871 metric tons were shipped to the domestic market - up 67 percent, while sales to foreign markets jumped by 164 percent, reaching 20,129 metric tons, both compared to Q1 2009. In the period in question, the share of export sales in the company's total sales came to 65 percent, compared to 54 percent in Q1 2009.
 
For 2010, the company expects a better year, as compared to the challenging year of 2009. Cemtas stated that it continues to operate a three-shift regime without interruption.
 
Cemtas is specialized in the production of special grade steel, mainly for the automotive and machine manufacturing industries. The company has a melt shop with an annual capacity of 153,150 metric tons, and a rolling mill with an annual capacity of 228,160 metric tons.