Bursa-based Turkish steelmaker Çemtaş Çelik Makina Sanayi ve Ticaret A.Ş (Çemtaş) has announced its financial and operational results for the first quarter this year.
Accordingly, in the given quarter the company registered a net profit of TRY 65.34 million ($2 million) for the given quarter, compared to a net loss of TRY 65.19 million in the first quarter of the previous year, while its sales revenues amounted to TRY 1.49 billion ($45.7 million), rising by 0.6 percent year on year. Çemtaş’ operating profit in the first quarter increased by 261.3 percent year on year to TRY 303.7 million ($9.3 million).
In the first three months of the current year, the company’s steel billet output totaled 45,697 mt, growing by 28.7 percent, while its rolled steel output moved up by 23.6 percent to 41,648 mt, both on year-on-year basis.
Meanwhile, in the first quarter, Çemtaş’ sales to the domestic market increased by 15.2 percent year on year to 30,233 mt, while its export sales rose by 37.8 percent year on year to 11,266 mt.