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 nine months of this year.
In the January-September period, Kardemir went from a net loss of TRY 396.49 million in the same period of 2020 to post a net profit of TRY 2.13 billion ($220.41 million). The company registered an operating profit of TRY 2.86 billion ($295.83 million) in the first nine months this year, compared to an operating loss of TRY 9.28 million in the same period of last year. Kardemir’s sales revenues increased by 94.3 percent year on year to TRY 10.05 billion ($1.03 billion).
In the given period, Kardemir produced 1.86 million mt of crude steel, down by 1.2 percent, while its pig iron production reached 1.71 million mt, up by 0.1 percent, both on year-on-year basis.
According to the statement, despite the imbalances in the global raw material and steel markets, the company maintained its financial growth momentum in 2021 and accelerated its export sales with its wide product portfolio.