Turkish steelmaker Karabuk Demir Celik (Kardemir) reported a larger net loss for the first quarter of 2025, according to its latest financial results.
The company’s net loss increased to TRY 1.48 bln (USD 38.2 mln), up from TRY 1.14 bln in the same period last year. Sales revenue also declined YoY, falling 14.5pct to TRY 14.4 bln (USD 372 mln).
Despite the financial setback, Kardemir increased its crude steel production by 3pct YoY, reaching 618,833 tons in Q1 2025. Sales volume also saw a notable rise, growing nearly 13pct YoY to 635,578 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 / 38.7 TRY