Turkey-based steel producer Kocaer Çelik Sanayi ve Ticaret A.S. (Kocaer Çelik) has announced its financial and operational results for the first half of this year.
In the first half of the year, Kocaer Çelik achieved a net profit of TRY 322.92 million ($17.97 million) compared to a net profit of TRY 107.8 million in the same period last year. The company registered an operating profit of TRY 890.83 million ($49.58 million) in the first of half this year, up by 51.9 percent year on year. Kocaer Çelik’s sales revenues increased by 76.8 percent year on year to TRY 4.32 billion ($240.58 million).
Meanwhile, the company’s EBITDA in the first half increased by 220 percent year on year to TRY 926 million ($51.53 million), while its EBITDA margin was 21.4 percent.
In the given period, Kocaer Çelik’s product sales volume amounted to 278,758 mt in the first half, rising by 10.4 percent year on year. In the first half this year, the share of the company’s value-added products in its total sales volume increased to 41.3 percent, from 32.4 percent in the same period of last year. The company mainly prefers order-based production and operates with a minimum stock of products and raw materials.