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.

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