Turkey’s leading steel producer, Erdemir Group, reported a significant drop in net profit for the first quarter of 2025, according to its latest financial results.
In Q1 2025, the company posted a net profit of TRY 447.9 mln (USD 11.5 mln), a steep decline from TRY 5.846 bln recorded in the same period last year. This downturn came despite a 7.6pct YoY increase in sales revenue, which reached TRY 53.54 bln (USD 1.38 bln).
The group’s crude steel output fell nearly 16pct YoY to 1.9 mln tons. Of this, the Eregli plant produced 0.5 mln tons, while the İskenderun facility contributed 1.4 mln tons. Crude steel capacity utilization dropped to 79pct, down from 95pct in Q1 2024. This decline was attributed to the normalization of operations after earthquake-related disruptions in early 2023.
Flat steel production in Q1 2025 fell by 7.67pct YoY to 1.697 mln tons, while long steel output declined to 200,000 tons, compared to 268,000 tons in the same period last year.
Total flat product sales reached 1.7 mln tons in the first quarter, with 1.3 mln tons sold domestically. Long product sales totaled 176,000 tons, of which 161,000 tons were sold in the domestic market.
Exports accounted for 22pct of the company’s total sales during the quarter. Additionally, Erdemir Group expanded its customer base, adding 34 new clients to its flat product portfolio and 6 new clients to its long product segment.
Erdemir Group’s main products include billet, slab, wire rod, hot rolled, cold rolled, and coated steel products.
1 USD / 38.7 TRY