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 quarter this year.
In the given quarter, Kardemir registered a net loss of TRY 1.48 billion ($38.21 million), compared to a net loss of TRY 1.15 billion recorded in the same quarter last year. The company registered an operating loss of TRY 515.45 million ($13.29 million) in the first quarter this year, compared to an operating loss of TRY 34.82 million in the first quarter in 2024. Kardemir’s sales revenues decreased by 14.5 percent year on year to TRY 14.41 billion ($371.8 million).
In the first quarter, Kardemir’s consolidated EBITDA was TRY 1.15 billion ($29.6 million), down by 43.1 percent year on year. Meanwhile, the company stated that its product sales volume amounted to 635,578 mt in the first quarter, rising by 12.8 percent year on year.
In the given quarter, Kardemir produced 616,833 mt of crude steel, up by 3.1 percent, while its pig iron production amounted to 646,266 mt, rising by 4.6 percent, both on year-on-year basis.