Turkey’s integrated long steel producer Kardemir has achieved a net profit of TRY 2.29 billion (USD 127 million) in H1 of 2022 as compared to a net profit of TRY 1.42 billion in the same period last year, maintaining its financial growth momentum as in the first quarter results. Kardemir EBITDA increased to TRY 3.21 billion, up 54% YoY. Sales revenues increased by 102% YoY to TRY 12.85 billion. Kardemir produced 1.09 million tonne of crude steel, down by 13% YoY. Its sales volume amounted to 1.02 million tonnes, down by 13% YoY.Kardemir said “Despite the fluctuations in the national and international steel markets, we are closing the second quarter of 2022 with a profit above market expectations thanks to our transparent and secure sales policy, new product development efforts, marketing and export activities, strong management and financial discipline.”
Turkey’s integrated long steel producer Kardemir has achieved a net profit of TRY 2.29 billion (USD 127 million) in H1 of 2022 as compared to a net profit of TRY 1.42 billion in the same period last year, maintaining its financial growth momentum as in the first quarter results. Kardemir EBITDA increased to TRY 3.21 billion, up 54% YoY. Sales revenues increased by 102% YoY to TRY 12.85 billion. Kardemir produced 1.09 million tonne of crude steel, down by 13% YoY. Its sales volume amounted to 1.02 million tonnes, down by 13% YoY.Kardemir said “Despite the fluctuations in the national and international steel markets, we are closing the second quarter of 2022 with a profit above market expectations thanks to our transparent and secure sales policy, new product development efforts, marketing and export activities, strong management and financial discipline.”
