Turkish steelmaker Karabuk Demir Celik (Kardemir) reduced its net losses during the first nine months of 2024, according to its financial report.
The company reported a net loss of TRY 2.963 bln (USD 85.9 mln) for January-September 2024, an improvement from TRY 3.194 bln in the same period last year.
Sales revenue declined by 21.3pct YoY to TRY 41.016 bln (USD 1.189 bln).
The company’s crude steel production rose by 3.8pct YoY to 1.87 mln tons, and sales volume increased by 1.6pct to 1.7 mln tons.
Founded in 1937, Kardemir is a major steel player in Turkey with a production capacity of 3.5 mln tons per year. The company produces blooms, billets, rebars, profiles along with other steel products. The company’s production facilities are located in Karabuk.
1 USD / 34 TRY
