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 given period, the company achieved a net profit of TRY 145.23 million ($4.27 million) compared to a net profit of TRY 634.11 million in the first half of the previous year, while it registered an operating profit of TRY 645.25 million ($18.95 million) in the given period, down by 65.7 percent year on year. Kocaer Çelik’s sales revenues decreased by 19.1 percent year on year to TRY 7.91 billion ($232.36 million).
Meanwhile, the company’s EBITDA in the first half fell by 48.8 percent year on year to TRY 1.02 billion ($29.97 million).
In the given period, Kocaer Çelik’s product sales volume amounted to 262,367 mt, dropping by 2.6 percent year on year. The share of the company’s value-added products in its total sales volume increased to 38 percent, from 34 percent in the same period of 2023.
