In 2009, Turkish integrated long steel producer Kardemir posted a consolidated loss of TRY 72.28 million ($46.73 million) compared to a profit of TRY 256.69 million recorded in 2008, due to lower steel prices despite its higher output.
In the given year, Kardemir's sales revenues declined by 26.62 percent year on year to TRY 793.56 million ($513.08 million).
In 2009, Kardemir's average sales price for steel billets declined by 24.97 percent to TRY 625/mt, while its average sale price for rebar stood at TRY 707/mt - down 31.49 percent, its price for sections was TRY 891/mt - down 35.25 percent, and its average sale price for rails amounted to TRY 1,573/mt - down 3.97 percent, all compared to 2008.
As of December 31, 2009, the company's short-term liabilities amounted to TRY 248.05 million ($160.4 million), up 15.34 percent, while its long-term liabilities totaled TRY 182.14 million ($117.78 million), down 12.59 percent, both compared to the previous year.
In 2009, Kardemir produced 707,000 mt of metallurgical coke - up 9.44 percent, 1.06 million mt of crude steel - down 1.56 percent, and 45,088 mt of pig iron - up 26.65 percent, all compared to the previous year. Meanwhile, in the year in question, the company's billet output totaled 785,741 mt, decreasing by 6.97 percent, while its bloom output amounted to 272,766 mt, increasing by 7.73 percent, both compared to 2008.
Last year, Kardemir's finished steel output rose by 11 percent year on year to 712,854 mt, with a 71.4 percent capacity utilization rate, which is 7.4 percentage points below the 2008 level. In the year in question, Kardemir's rebar output surged by 1.33 percent reaching 507,021 mt, its section production increased by 72.77 percent to 119,397 mt, while its rail product output totaled 79,089 mt - up 26.93 percent, all compared to the previous year.
Kardemir has one million mt of annual crude steel production capacity, 120,000 mt of pig iron output capacity and 900,000 mt of annual finished steel production capacity.