Turkish integrated long steel producer Kardemir Karabuk Demir Celik Sanayi ve Ticaret A.S. (Kardemir) has announced its financial and operational results for the first half of this year.
In the given period, the company reported a net loss of TRY 1.83 billion ($53.81 million), compared to a net loss of TRY 1.59 billion in the same period last year, while its sales revenues declined by 22.6 percent year on year to TRY 24.30 billion ($714.47 million). Moreover, Kardemir registered an operating loss of TRY 253.52 million ($7.46 million), compared to an operating profit of TRY 436.76 million.
In the first half, the company produced 1.21 million mt of crude steel, remaining virtually unchanged, while its pig iron production totaled 1.12 million mt, up by 2.2 percent, both on year-on-year basis. Meanwhile, Kardemir stated that its sales volume amounted to 1.06 million mt, decreasing by 2.4 percent year on year.
