Bursa-based Turkish steelmaker Çemtaş Çelik Makina Sanayi ve Ticaret A.Ş (Çemtaş) has announced its financial and operational results for the first half of this year.
In the given period, the company registered a net loss of TRY 172.56 million ($3.62 million), compared to a net profit of TRY 19.85 million in the first half of the previous year, while its sales revenues amounted to TRY 3.44 billion ($72.09 million), declining by 9.3 percent year on year. In addition, Çemtaş' operating profit for the first half decreased by 51.8 percent year on year to TRY 205.94 million ($4.32 million).
In the first six months of the current year, the company's steel billet output totaled 74,719 mt, falling by 8.8 percent, while its rolled steel output moved down by 11.1 percent to 67,171 mt, both on year-on-year basis.
Meanwhile, in the January-June period, Çemtaş' sales to the domestic market dropped by 3.8 percent year on year to 42,500 mt, while its export sales decreased by 1.2 percent year on year to 23,863 mt.
