Turkey’s Çemtaş’ sales revenues up 89.3 percent in H1

Friday, 06 August 2021 10:28:36 (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 half of the current year.

Accordingly, Çemtaş has reported a net profit of TRY 91.84 million ($10.75 million) for the given period, compared to a net profit of TRY 40.65 million in the first half of the previous year. In the first half this year, the sales revenue of the company amounted to TRY 605.15 million ($70.83 million), rising by 89.3 percent year on year, while the company registered an operating profit of TRY 126.16 million ($14.76 million), increasing from the operating profit of TRY 31.06 million recorded in the same period of 2020.

In the first six months of the current year, Çemtaş’ steel billet output totaled 90,235 mt, increasing by 21.86 percent, while its rolled steel output rose by 25.97 percent to 83,169 mt, both year on year.

Meanwhile, in the first half, the company’s sales to the domestic market increased by 17.38 percent year on year to 50,124 mt, while its export sales rose by 12.8 percent to 27,026 mt compared to the same period last year.

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