Bursa-based Turkish steelmaker Cemtas has reported a net profit of TRY 138.82 million ($19.72 million) for 2020, compared to a net profit of TRY 56.45 million in 2019. In the given year, the sales revenue of the company amounted to TRY 788.29 million ($112 million), rising by 13.7 percent year on year, while the company registered an operating profit of TRY 113.57 million ($16.13 million), increasing from the operating profit of TRY 49.32 million recorded in the same period of 2019.
In the given period, Cemtas’ steel billet output totaled 160,398 mt, increasing by 10.1 percent, while its rolled steel output rose by 7.7 percent to 149,167 mt, both year on year.
Meanwhile, in 2020, the company’s sales to the domestic market increased by 3.9 percent year on year to 95,325 mt, while its export sales rose by four percent to 51,915 mt compared to 2019.