Turkish steel manufacturer Kocaer Celik reported a 7.36pct YoY drop in net profit for the first quarter of 2024. According to the company’s stock exchange filing, Kocaer Celik recorded a net profit of TRY 95.847 mln (USD 2.93 mln), down from TRY 103.466 mln in Q1 2023.
Sales revenues fell by 11.52pct YoY to TRY 3.865 bln (USD 118 mln). The company’s sales volume decreased by 9.38pct YoY to 124,656 tons. However, the share of value-added products in the company’s total sales volume increased to 36pct in Q1 2024, up from 34pct in the same quarter last year.
Kocaer Celik’s annual production capacity of steel profiles is 800,000 tons per annum The company have 3 steel profile factories, a 100,000 tons per year galvanizing factory, and a 120,000 tons per annum service center in Turkey.
1 USD / 32.6 TRY
