Bursa-based Turkish steelmaker Cemtas Celik Makina Sanayi ve Ticaret A.S (Cemtas) has announced its financial results for the third quarter and first nine months of the current year.
Accordingly, Cemtas has reported a net profit of TRY 48.85 million ($12.87 million) for the given quarter, compared to a net profit of TRY 6.4 million in the third quarter of the previous year. In the third quarter this year, the sales revenue of the company amounted to TRY 109 million ($28.73 million), rising 59 percent year on year, while the company registered an operating profit of TRY 13.44 million ($3.54 million), increasing by 129.9 percent compared to the same period of 2016.
In the January-September period this year, Cemtas recorded a net profit of TRY 74.43 million ($19.62 million), compared to a net profit of TRY 22.5 million in the first nine months of the previous year. In the given period, the company’s sales revenue amounted to TRY 314.23 million ($82.84 million), increasing 47.8 percent year on year, while it registered an operating profit of TRY 48.08 million ($12.67 million) compared to the operating profit of TRY 23.09 million registered in the first nine months of 2016.
In the first nine months of the current year, Cemtas' steel billet output totaled 128,229 mt, increasing by seven percent, while its rolled steel output rose by seven percent to 118,835 mt, both year on year.
Meanwhile, in the January-September period, the company’s sales to the domestic market increased by four percent to 63,489 mt year on year, while its export sales rose by nine percent to 53,036 mt compared to the same period in 2016.