Turkey’s CEMTAS posts net profit for 2018

Monday, 11 February 2019 13:41:55 (GMT+3)   |   Istanbul
       

Bursa-based Turkish steelmaker company CEMTAS has announced its financial results for 2018.

In the given year, CEMTAS registered a net profit of TRY 146.27 million ($27.8 million) compared to TRY 90.9 million in 2017. Last year, sales revenue of the company amounted to TRY 765 million ($145.27 million), rising by 67.5 percent from TRY 456.5 million in the previous year, while the company registered an operating profit of TRY 191.1 million ($36.3 million), increasing from TRY 71 million in 2017.

In 2018, CEMTAS’ steel billet output totaled 180,595 mt, compared to 174,019 mt in the previous year, rising by 3.8 percent, while its rolled steel output was 163,914 mt, rising by one percent year on year from 162,211 mt.

Meanwhile, in the same year, the company’s sales to the domestic market rose by 3.8 percent, to 90,606 mt, while its export sales decreased by 6.2 percent to 68,739 mt, both year on year.


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