Turkey-based steel producer Kocaer Çelik Sanayi ve Ticaret A.S. (Kocaer Çelik) has announced its financial and operational results for 2022.
In the full year, Kocaer Çelik achieved a net profit of TRY 755.74 million ($40.04 million) compared to a net profit of TRY 135.37 million in the previous year. The company registered an operating profit of TRY 1.4 billion ($74.39 million) in 2022, up by 45.9 percent year on year. Kocaer Çelik’s sales revenues increased by 123.3 percent year on year to TRY 9.42 billion ($499.04 million).
Meanwhile, the company’s EBITDA in 2022 increased by 168.9 percent year on year to TRY 1.58 billion ($83.68 million), while its EBITDA margin increased to 16.8 percent from 13.9 percent.
In the given period, Kocaer Çelik’s product sales volume amounted to 533,238 mt, rising by 7.3 percent year on year. Last year, the share of the company’s value-added products in its total sales volume increased to 42.0 percent, from 33.1 percent in 2021. The company mainly prefers order-based production and operates with a minimum stock of products and raw materials.
According to the company’s statement, last year energy costs increased significantly, with their share in production costs rising. In the given year, scrap and iron ore prices followed a fluctuating trend.