Turkey’s Çemtaş’ sales revenues up 99.7 percent in Jan-Sept

Wednesday, 27 October 2021 11:18:00 (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 nine months of the current year.

Accordingly, Çemtaş has reported a net profit of TRY 169.06 million ($17.83 million) for the given period, compared to a net profit of TRY 90.18 million in the first nine months of the previous year. In the first nine months this year, the sales revenue of the company amounted to TRY 1.01 billion ($107.14 million), rising by 99.7 percent year on year, while the company registered an operating profit of TRY 225.50 million ($23.77 million), increasing from the operating profit of TRY 66.78 million recorded in the same period of 2020.

In the first nine months of the current year, Çemtaş’ steel billet output totaled 133,850 mt, increasing by 18.55 percent, while its rolled steel output rose by 17.45 percent to 121,304 mt, both year on year.

Meanwhile, in the January-September period, the company’s sales to the domestic market increased by 16.33 percent year on year to 75,902 mt, while its export sales rose by 15.20 percent to 41,427 mt compared to the same period last year.

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