Izmir-based steel producer Kardemir Çelik Sanayi A.Ş. has announced its financial results for the first half of the year.
In the given period, the company's net profit decreased by 52 percent year on year to TRY 410.4 million ($8.5 million), while its sales revenue increased by 26.3 percent year on year to TRY 13.92 billion ($289.63 million). In the first half, Kardemir Çelik's operating profit increased to TRY 1.23 billion ($25.58 million), compared to TRY 1.15 billion recorded in the first half of 2025. In the same period, gross profit amounted to TRY 1.75 billion ($36.4 million), while EBITDA increased by 10.37 percent to TRY 1.4 billion ($29.1 million). As of June 30, 2026, the company's total assets increased by 14 percent to TRY 32.2 billion ($669.7 million), while its shareholders' equity rose by eight percent to TRY 11.2 billion ($232.9 million).
Commenting on the company's financial results for the first half of 2026, Özlem Bakırel, board member of the company, noted that the global iron and steel industry is facing an intensely competitive environment. “In recent years, the iron and steel industry has been operating in a highly competitive environment due to numerous factors, including China-driven oversupply and low-priced export policies, rising energy and raw material costs, protectionist measures, and the European Union's Carbon Border Adjustment Mechanism. Despite all these challenging conditions, we managed to increase our revenue and profitability. We continue to support our strong financial performance with next-generation production technologies, investments in value-added products, our export-oriented growth strategy, and renewable energy projects. Through these investments, we aim both to improve the efficiency of our production processes and to establish a more sustainable and competitive production structure," Bakırel said.
Kardemir Çelik announced that it started investing in a new large-size section rolling mill in the first quarter of 2026. The company plans to start production at the new facility in 2027. Önder Karalp, chairman of Kardemir Çelik, stated that the investment is aimed at expanding the company's product range, gaining a competitive advantage, and increasing its revenue and exports. With the contribution of this investment, the company expects its exports to increase by approximately 25 percent.
In addition, the company aims to increase its total installed renewable energy capacity to 71.9 MW through solar and wind power plants and waste heat recovery projects planned for the coming period.
Kardemir Çelik currently operates three section mills and one wire rod and rebar mill. The company's section mills have a combined annual production capacity of 700,000 mt, while its steelmaking plant has an annual capacity of 1.2 million mt and its wire rod and rebar mill has a capacity of 600,000 mt. The company exports more than 50 percent of its products.
