Turkish steel manufacturer Kocaer Celik reported a significant 77pct YoY drop in net profit for the first half of 2024. In a stock exchange filing, the company disclosed a net profit of TRY 145.23 mln (USD 4.26 mln), down from TRY 634.11 mln in H1 2023.
Sales revenues declined by 19pct YoY to TRY 7.91 bln (USD 232 mln), while sales volume decreased by 2.6pct to 262,367 tons. Despite the drop, the share of value-added products in the company’s total sales increased to 38pct in H1 2024, up from 34pct in the same period 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 180,000 tons per annum service center in Turkey.
1 USD / 34 TRY
