Turkey’s Kardemir posted a consolidated net profit of TRY 5.98 bln (USD 124.7 mln) in January-June 2026, compared with a net loss of TRY 335.8 mln in the same period last year, while EBITDA rose 49.4pct YoY to TRY 4.75 bln (USD 99.1 mln).
Sales revenue declined 5.4pct YoY to TRY 37.35 bln (USD 779.6 mln) from TRY 39.50 bln (USD 824.3 mln).
Kardemir increased liquid steel production by 5.3pct YoY to 1.35 mln tons, while crude steel output rose by the same rate to 1.31 mln tons. Finished steel production increased 6.2pct to 1.29 mln tons.
Capacity utilization in upstream operations improved, with liquid pig iron utilization rising to 89.8pct from 83.7pct and liquid steel utilization increasing to 77.4pct from 73.4pct.
Kardemir sold 1.26 mln tons of finished steel products in H1 2026, up from 1.24 mln tons a year earlier.
The company continued investments in production and plant modernization during the period, including the commissioning of its second continuous casting machine. Other projects included modernization of sinter equipment, coke-gas facilities, raw material handling systems, ladle and electrical equipment, as well as environmental infrastructure and R&D projects.
Founded in 1937, Kardemir is also Turkey’s only producer of both railway rails and railway wheels. The company manufactures a wide range of long steel products, including billets, blooms, rebar, wire rod, rails and structural sections.
1 USD / 47.9 TRY