Turkish integrated long steel producer Kardemir Karabuk Demir Celik Sanayi ve Ticaret A.S. (Kardemir) has announced its financial and operational results for 2023.
In the given year, the company achieved a net profit of TRY 1.59 billion ($49.12 million) compared to a net profit of TRY 1.11 billion in 2022. The company registered an operating loss of TRY 3.04 billion ($93.92 million) last year, compared to an operating profit of TRY 2.35 billion in the previous year. Kardemir’s sales revenues declined by 4.7 percent year on year to TRY 51.62 billion ($1.60 billion).
In addition, in the given year the company’s EBITDA decreased by 36.2 percent year on year to TRY 3.30 billion ($101.96 million).
In 2023, Kardemir produced 2.39 million mt of crude steel, up by 7.8 percent, while its pig iron production came to 2.20 million mt, increasing by 10.7 percent, both on year-on-year basis. The company’s total sales moved up by 14.6 percent year on year to 2.37 million mt.
