Turkish pipe maker Erciyas Çelik Boru Sanayi A.Ş. has announced its financial results for the first quarter of 2022.
Accordingly, in the given quarter Erciyas registered a net profit of TRY 20.79 million ($1.54 million), compared to a net profit of TRY 8.94 million in the same period of 2021. In the same period, the company’s sales revenues increased by 281.1 percent year on year to TRY 740.86 million ($53.19 million). In the given period, Erciyas recorded an operating profit of TRY 154.57 million ($11.09 million), compared to an operating profit of TRY 60.51 million in the first quarter of the previous year.
In the January-March period of this year, Erciyas sold 37,000 mt of pipes, compared to 16,000 mt recorded in the same period of the previous year. In the given period, 76 percent of the company’s total pipe sales tonnage consisted of export sales.