Turkish steel manufacturer Cemtas Celik reported a net profit of TRY 26 mln (USD 764,456) in H1 2024, a significant drop from TRY 95.4 mln in the same period last year, according to its financial statement.
During this period, Cemtas saw an 8.7pct YoY decline in revenue, reaching TRY 2.841 bln (USD 83.51 mln).
Billet production decreased by 10.84pct YoY to 82,663 tons, while finished steel production rose by 8.34pct to 75,202 tons.
The company also recorded growth in both domestic and export sales. Domestic sales increased by 5.07pct YoY to 52,219 tons, while export sales surged nearly 41pct to 22,086 tons compared to the previous year.
Established in 1970, Cemtas specializes in manufacturing and supplying various steel types, including bearing steel, free-cutting steel, leaded steel, spring steel, and tool steel. The company operates a melt shop with an annual production capacity of 193,204 tons and a rolling mill with an annual production capacity of 207,360 tons.
1 USD / 34 TRY
