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 first half of the year, Kardemir achieved a net profit of TRY 1.2 billion ($44.33 million) compared to a net profit of TRY 2.29 billion in the same period last year. The company registered an operating profit of TRY 1.71 billion ($63.22 million) in the first half of this year, down by 38.2 percent year on year. Kardemir’s sales revenues increased by 30.2 percent year on year to TRY 16.74 billion ($618.8 million).
In the given period, Kardemir produced 1.21 million mt of crude steel, up by 10.8 percent, while its pig iron production totaled 1.09 million mt, up by 11.8 percent, both on year-on-year basis. Meanwhile, the company stated that its product sales volume amounted to 1.08 million mt in the first half, rising by 5.1 percent year on year.
