Turkey-based steel producer Kocaer Çelik Sanayi ve Ticaret A.S. (Kocaer Çelik) has announced its financial and operational results for the first nine months of this year.
In the given period, the company achieved a net profit of TRY 450.50 million ($10.70 million), compared to a net profit of TRY 8.20 million in the January-September of the previous year, while it registered an operating profit of TRY 1.75 billion ($41.49 million) in the given period, up by 14.9 percent year on year. Kocaer Çelik’s sales revenues decreased by 1.03 percent year on year to TRY 17.24 billion ($409.60 million).
Meanwhile, the company’s EBITDA in the first nine months went down by 0.5 percent year on year to TRY 2.18 billion ($51.83 million).
In the given period, Kocaer Çelik’s product sales volume amounted to 502,372 mt, increasing by 22.9 percent year on year. The share of the company’s value-added products in its total sales volume increased to 44 percent, from 40.4 percent in the same period of 2024.
Kocaer Çelik stated that the weakness in supply-and-supply fundamentals continued throughout the given period, especially in the second half of the year due to tariffs and new quota systems, although the company maintained its momentum in the third quarter with its strong export performance.