Bursa-based Turkish steelmaker Cemtas Celik Makina Sanayi ve Ticaret A.S (Cemtas) has announced its financial results for the third quarter and first nine months of the current year.
Accordingly, Cemtas has reported a net profit of TRY 6.4 million ($2.05 million) for the given quarter, compared to a net profit of TRY 3.7 million in the third quarter of the previous year. In the third quarter this year, the sales revenue of the company amounted to TRY 68.5 million ($21.98 million), falling 7.6 percent year on year, while the company registered an operating profit of TRY 5.84 million ($1.87 million), decreasing from the operating profit of TRY 8.6 million recorded in the same period of 2015.
In the January-September period this year, Cemtas recorded a net profit of TRY 22.5 million ($7.22 million), compared to a net profit of TRY 5.6 million in the first nine months of the previous year. In the given period, the company’s sales revenue amounted to TRY 212.5 million ($68.19 million), increasing 12.8 percent year on year, while it registered an operating profit of TRY 23.09 million ($7.4 million) compared to the operating profit of TRY 11.76 million registered in the first nine months of 2015.
In the first nine months of the current year, Cemtas' steel billet output totaled 119,283 mt, increasing by 19 percent, while its rolled steel output rose by 19 percent to 111,232 mt, both year on year.
Meanwhile, in the January-September period, the company’s sales to the domestic market increased by 19 percent to 61,165 mt year on year, while its export sales rose by 14 percent to 48,646 mt compared to the same period in 2015.