Turkey’s Cemtas’ sales revenues up 62.7 percent in Q1

Thursday, 29 April 2021 11:16:58 (GMT+3)   |   Istanbul
       

Bursa-based Turkish steelmaker Çemtaş Çelik Makina Sanayi ve Ticaret A.Ş (Cemtas) has announced its financial and operational results for the first quarter of the current year.

Accordingly, Cemtas has reported a net profit of TRY 34.79 million ($4.24 million) for the given quarter, compared to a net profit of TRY 15.51 million in the first quarter of the previous year. In the first quarter this year, the sales revenue of the company amounted to TRY 292.44 million ($35.65 million), rising by 62.7 percent year on year, while the company registered an operating profit of TRY 46.99 million ($5.73 million), decreasing from the operating profit of TRY 13.38 million recorded in the same period of 2020.

In the first three months of the current year, Cemtas’ steel billet output totaled 46,190 mt, increasing by 9.57 percent, while its rolled steel output rose by 16.18 percent to 41,626 mt, both year on year.

Meanwhile, in the first quarter, the company’s sales to the domestic market increased by 17.15 percent year on year to 28,562 mt, while its export sales fell by 14.36 percent to 12,957 mt compared to the same period last year.


Similar articles

Global View on Billet: Asian market posts rapid drop, MENA more stable with mood still bearish

15 Mar | Longs and Billet

Mood of panic in China impacts import billet market in SE Asia

14 Mar | Longs and Billet

Ex-India billet sellers retreat in face of declining bids

14 Mar | Longs and Billet

Turkey’s billet imports down 47.5 percent in January

14 Mar | Steel News

Ex-Russia billet bottoms up amid demand from N. Africa, Turkey still not supportive

13 Mar | Longs and Billet

Iranian mills float new semis export tenders, trying to activate trade

12 Mar | Longs and Billet

ASEAN mills keep billet export offers stable amid latest sales including slabs, China still bearish

12 Mar | Longs and Billet

Global View on Billet: Price declines gather momentum, though number of suppliers resist

08 Mar | Longs and Billet

Turkey-based Çemtaş posts lower net profit and sales revenues for 2023

08 Mar | Steel News

Tradable levels down in SE Asian billet market, though ASEAN mills resist rapid cuts in FOB offers

07 Mar | Longs and Billet