Turkey’s CEMTAS posts net profit in January-September

Monday, 26 November 2018 18:04:45 (GMT+3)   |   Istanbul

Bursa-based Turkish steelmaker company CEMTAS has announced its financial results for the January-September period of 2018.

In the given period, CEMTAS registered a net profit of TRY 134.4 million ($25.7 million) compared to TRY 74.4 million in the same period of 2017. In the January-September period of the current year, sales revenue of the company amounted to TRY 561 million ($107.47 million), rising by 78.5 percent from TRY 314 million in the previous year, while the company registered operating profit of TRY 180,4 million ($3.45 million), increasing from TRY 48 million in the same period last year.

In the January-September period this year, CEMTAS’ steel bilet output totaled 136,880 mt, compared to 128,229 mt in the same period last year, rising by 6.7 percent, while its rolled steel output was 122.618 mt, rising by 3.2 percent year on year from 118,835 mt.

Meanwhile, in the given period, the company’s sales to the domestic market rose by 13.9 percent, to 72,320 mt, while its export sales decreased by 6.3 percent from 53,036 mt to 49,693 mt, both year on year.

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