Turkish integrated steelmaker Erdemir has announced a net profit of TRY 1.6 billion ($641.9 million) for 2014, increasing by 74 percent year on year, while the company's sales revenues amounted to TRY 11.5 billion ($4.6 billion), up 17.6 percent compared to the previous year. The company's operating income in 2014 increased by 36.2 percent year on year to TRY 2.09 billion ($840.3 million).
Regarding the operational results, in 2014 crude steel production at Erdemir's Eregli works decreased slightly by 0.8 percent year on year to 3.7 million mt, while crude steel output at the producer's Iskenderun works increased by 5.7 percent year on year to 4.76 million mt.
In the given year, the flat steel output of Erdemir increased by 8.2 percent to 6.95 million mt, while the company's long steel output amounted to 1.15 million mt, down 15 percent, both year on year. Additionally, Erdemir's flat steel sales volumes increased by 9.4 percent year on year to 6.93 million mt, while its long steel sales volumes decreased by 13.6 percent year on year to 1.16 million mt.
In 2014, Erdemir exported 871,000 mt of steel products, including 678,000 mt of flat steel and 227,000 mt of long steel, accounting for 11 percent of total sales. Exporting flat products to 38 countries and long products to eight countries, Erdemir opened sales offices in Canada and Singapore in 2014 in order to increase its presence in export markets.