Bursa-based Turkish steelmaker Çemtaş Çelik Makina Sanayi ve Ticaret A.Ş (Çemtaş) has announced its financial and operational results for the first quarter of the current year.
Accordingly, Çemtaş has reported a net profit of TRY 109.94 million ($5.62 million) for the given quarter, compared to a net profit of TRY 235.41 million in the first quarter of the previous year. In the first quarter this year, the sales revenue of the company amounted to TRY 849.29 million ($43.4 million), rising by 10.2 percent year on year, while the company registered an operating profit of TRY 108.9 million ($5.56 million), decreasing from the operating profit of TRY 294.34 million recorded in the same period of 2022.
In the first three months of the current year, Çemtaş’ steel billet output totaled 35,505 mt, decreasing by 20.3 percent, while its rolled steel output fell by 15.1 percent to 33,683 mt, both year on year.
Meanwhile, in the first quarter, the company’s sales to the domestic market decreased by 4.9 percent year on year to 26,242 mt, while its export sales fell by 36.9 percent year on year to 8,174 mt.