Turkey-based steel producer Kocaer Çelik Sanayi ve Ticaret A.Ş. (Kocaer Çelik) has announced its financial and operational results for the January-September period of this year.
In the given period, the company achieved a net profit of TRY 6.15 million ($178,916), compared to a net profit of TRY 530.36 million in the first nine months of last year, while its sales revenues declined by 16.0 percent year on year to TRY 13.07 billion ($380.30 million). In addition, Kocaer Çelik’s operating profit amounted to TRY 1.14 billion ($33.17 million), compared to an operating profit of TRY 2 billion recorded in the same period of 2023, while its adjusted EBITDA fell by eight percent year on year to TRY 1.65 billion ($48 million).
In the first nine months of the year, Kocaer Çelik’s product sales volume amounted to 408,778 mt, dropping by 3.3 percent year on year. The share of the company’s value-added products in its total sales volume increased to 40.4 percent, from 39 percent in the same period of 2023.
