In the first quarter of 2012, Turkish integrated long steel producer Kardemir Karabuk Demir Celik Sanayi ve Ticaret A.S. (Kardemir) posted a net profit of TRY 75.12 million ($41.51 million), up 61.2 percent compared to the same quarter of the previous year.
In the given period, Kardemir's sales revenues increased 40.3 percent year on year to TRY 414.9 million ($229.32 million). The company registered an operating profit of TRY 60.14 million ($33.23 million), up 35.4 percent year on year.
In the first quarter, Kardemir produced 182,150 mt of metallurgical coke - up 2.38 percent, 373,467 mt of crude steel - up 23.5 percent, and 38,329 mt of pig iron - increasing almost seven times, all compared to the first quarter of the previous year. Meanwhile, in the period in question, the company's billet output totaled 262,557 mt, increasing by 16.6 percent, while its bloom output amounted to 102,766 mt, rising by 45.8 percent, both compared to the corresponding period of 2011.
During the given quarter, Kardemir's rebar output increased by 14.9 percent to 167,951 mt, its steel section production increased by 6.8 percent to 35,138 mt, while its rail product output totaled 26,596 mt - down 4.2 percent, all compared to the first quarter of the previous year.