Turkey’s Kardemir Celik Sanayi reported a 26.3pct YoY increase in sales revenue to TRY 13.92 bln (USD 290 mln) in the first half of 2026, while net profit fell 52pct to TRY 410.4 mln (USD 8.6 mln).
The company’s cost of sales increased 30.6pct YoY to TRY 12.17 bln (USD 253.6 mln), limiting the benefit of higher revenue.
Operating profit increased to TRY 1.23 bln (USD 25.6 mln), from TRY 1.15 bln in H1 2025. However, financing expenses surged to TRY 960 mln (USD 20 mln), compared with TRY 385.4 mln a year earlier. Pre-tax profit consequently fell to TRY 362.2 mln (USD 7.5 mln) from TRY 839.7 mln.
The company started investment in a new large-section rolling mill in the first quarter of 2026, with production planned to begin in 2027. The investment is intended to expand its product range and support higher revenue and exports.
Headquartered in Izmir, Kardemir Celik operates seven production facilities in Izmir and Denizli with a combined annual production capacity of approximately 2.5 mln tons. The company produces billet, wire rod, rebar, merchant bar and structural sections, including an annual billet production capacity of 1.2 mln tons, profile production capacity of 700,000 tons, and wire rod and rebar capacity of 600,000 tons.
1 USD / 48.1 TRY