Turkish integrated long steel producer Kardemir Karabuk Demir Celik Sanayi ve Ticaret has registered a net profit of TRY 1.17 billion (USD 79.2 million) in January-March 2022 quarter, as compared to a net profit of TRY 501.26 million recorded in the same quarter of 2021. Kardemir’s sales revenues increased by 120.5% to TRY 6.02 billion (USD 407.4 million). It registered an operating profit of TRY 1.46 billion (USDD 99.0 million) in the first quarter this year, compared to an operating profit of TRY 664.46 million in the first quarter in 2021. Kardemir’s sales revenues increased by 120.5% to TRY 6.02 billion (USD 407.4 million). In the first quarter, Kardemir’s consolidated EBITDA was TRY 1.52 billion (USD 103.21 million), increasing by 85.8% YoY, while its EBITDA margin fell to 25.3% from 30.1% in the same quarter of the previous year.January-March 2022 Quarter------------------------------------Consolidated turnover – TRY 6,025 millionEBITDA - TRY 1,526 millionEBITDA Margin - 25.3%EBITDA per tonne - TRY 2,855 (USD 193)Consolidated net profit – TRY 1,170 millionPig Iron Production – 472,309 tonnes, down 17.6% YoYCrude Steel Production- 529,704 tonnes, down 15.9% YoYSales Volume - 534,617 tonnes, down 5.4% YoYKardemir is set to benefit from a short-term boost to its business as Russia’s invasion of Ukraine hits global steel production. But the company’s future success will depend on how it navigates longer-term challenges, including supply chain disruptions as well as higher energy and commodity prices.
Turkish integrated long steel producer Kardemir Karabuk Demir Celik Sanayi ve Ticaret has registered a net profit of TRY 1.17 billion (USD 79.2 million) in January-March 2022 quarter, as compared to a net profit of TRY 501.26 million recorded in the same quarter of 2021. Kardemir’s sales revenues increased by 120.5% to TRY 6.02 billion (USD 407.4 million). It registered an operating profit of TRY 1.46 billion (USDD 99.0 million) in the first quarter this year, compared to an operating profit of TRY 664.46 million in the first quarter in 2021. Kardemir’s sales revenues increased by 120.5% to TRY 6.02 billion (USD 407.4 million). In the first quarter, Kardemir’s consolidated EBITDA was TRY 1.52 billion (USD 103.21 million), increasing by 85.8% YoY, while its EBITDA margin fell to 25.3% from 30.1% in the same quarter of the previous year.January-March 2022 Quarter------------------------------------Consolidated turnover – TRY 6,025 millionEBITDA - TRY 1,526 millionEBITDA Margin - 25.3%EBITDA per tonne - TRY 2,855 (USD 193)Consolidated net profit – TRY 1,170 millionPig Iron Production – 472,309 tonnes, down 17.6% YoYCrude Steel Production- 529,704 tonnes, down 15.9% YoYSales Volume - 534,617 tonnes, down 5.4% YoYKardemir is set to benefit from a short-term boost to its business as Russia’s invasion of Ukraine hits global steel production. But the company’s future success will depend on how it navigates longer-term challenges, including supply chain disruptions as well as higher energy and commodity prices.
