Turkish steel producer Kardemir reported a net profit of TRY 24.5 mln (USD 0.54 mln) in the first quarter of 2026, compared with a net loss of TRY 1.94 bln (USD 42.55 mln) recorded in the same period last year.
The company posted an operating profit of TRY 757 mln (USD 16.6 mln) in Q1 2026, compared with an operating loss of TRY 675 mln (USD 14.8 mln) in the corresponding period of 2025.
Kardemir’s revenue declined to TRY 15.48 bln (USD 339.7 mln) during the January-March period from TRY 18.86 bln (USD 413.9 mln) a year earlier.
During the first quarter, the company produced 633,759 tons of crude steel, up 2.7pct YoY. Finished steel sales volume, however, declined by 11.6pct YoY to 561,682 tons.
Established in 1937, Kardemir is one of Turkey’s major steel producers with annual production capacity of around 3.5 mln tons. The company manufactures billets, blooms, rebar, profiles, and other steel products at its Karabuk-based facilities.
1 USD / 45.5 TRY