OYAK Mining Metallurgy Reports Strong Results in Jan-Sept

Turkish steel maker OYAK Mining & Metallurgy Group has reported a net profit of TRY 15.43 billion (USD 974 million) for the first nine months this year, compared to a net profit of TRY 11.26 billion in the same period of last year, while the company's sales revenues amounted to TRY 100.53 billion (USD 6.34 billion), up by 133% YoY. The company’s operating income in the first nine months amounted to TRY 23.32 billion (USD 1.47 billion), compared to an operating income of TRY 15.6 billion in the first nine months of the previous year. OYAK Mining & Metallurgy Group produced 6.0 million tonnes of crude steel, down by 12% YoYEregli works - 2.32 million tonnes, down 9% YoYIskenderun works - 3.68 million tonnes, down 13% YoY In the first nine months this year, the flat steel output of OYAK Mining and Metallurgy Group decreased by 3.5% to 5.49 million tonnes, while the company’s long steel output amounted to 617,000 tonnes, increasing by 10% YoY The flat steel sales volumes of the company went down by 6% YoY to 5.19 million tonnes, while its long steel sales volumes rose by 13% YoY to 623,000 tonnes. OYAK Mining & Metallurgy Group exported 875,000 tonnes of steel products, including 812,000 OYAK Mining & Metallurgy Group of flat steel and 63,000 OYAK Mining & Metallurgy Group of long steel, with exports accounting for 15% of total sales.

OYAK Mining Metallurgy Reports Strong Results in Jan-Sept

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