Turkish integrated long steel producer Kardemir Karabuk Demir Celik Sanayi ve Ticaret A.S. (Kardemir) has announced its financial and operational results for 2022.
In 2022, Kardemir achieved a net profit of TRY 2.17 billion ($114.99 million) compared to a net profit of TRY 3.85 billion in 2021. The company registered an operating profit of TRY 2.85 billion ($150.7 million) last year, compared to an operating profit of TRY 4.79 billion in the previous year. Kardemir’s sales revenues increased by 85.5 percent year on year to TRY 27.39 billion ($1.45 billion).
In addition, in the given year the company's EBITDA decreased by 11.2 percent year on year to TRY 4.36 billion ($230.7 million).
In 2022, Kardemir produced 2.22 million mt of crude steel, down 8.8 percent, while its pig iron production came to 1.98 million mt, down 11.2 percent, both on year-on-year basis. The company’s total sales decreased by 10.2 percent year on year amid lower demand to 2.06 million mt.