Turkey-based steel producer Kocaer Çelik Sanayi ve Ticaret A.S. (Kocaer Çelik) has announced its financial and operational results for the first quarter this year.
In the given quarter, the company achieved a net profit of TRY 272.92 million ($7.06 million) compared to a net profit of TRY 132.37 million in the same quarter of the previous year, while it registered an operating profit of TRY 789.86 million ($20.44 million) in the given period, up by 83.8 percent year on year. Kocaer Çelik’s sales revenues decreased by 15.3 percent year on year to TRY 4.52 billion ($116.95 million).
Meanwhile, the company’s EBITDA in the first quarter rose by 43.0 percent year on year to TRY 902.13 million ($23.34 million), while its EBITDA margin rose to 14.4 percent from 12.8 percent.
In the given period, Kocaer Çelik’s product sales volume amounted to 150,171 mt, increasing by 20.5 percent year on year. The share of the company’s value-added products in its total sales volume increased to 49 percent, from 36 percent in the first quarter of 2024.
The company stated in its report that the average selling prices dropped during the given period, amid global uncertainty created by Trump’s tariff policies. However, Kocaer Çelik increased its share of high value-added product sales and managed to post a higher EBITDA margin. In addition, improvement works completed during the first quarter and higher output helped profitability.
