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 profit of TRY 15.03 million ($369,296), compared to a net profit of TRY 35.13 million in the first half of the previous year, while its sales revenues amounted to TRY 2.87 billion ($70.53 million), declining by 25.2 percent year on year. In addition, Çemtaş’ operating profit for the first half decreased by 57.5 percent year on year to TRY 233.68 million ($5.74 million).
In the first six months of the current year, the company’s steel billet output totaled 81,901 mt, falling by 0.9 percent, while its rolled steel output moved up by 0.5 percent to 75,545 mt, both on year-on-year basis.
Meanwhile, in the January-June period, Çemtaş’ sales to the domestic market dropped by 15.4 percent year on year to 44,195 mt, while its export sales advanced by 9.3 percent year on year to 24,151 mt.