Turkish steelmaker Karabuk Demir Celik (Kardemir) reported a deeper net loss in 2024, according to its latest financial report.
The company’s net loss rose to TRY 3 bln (USD 82.9 mln), up from TRY 2.29 bln in the previous year. Sales revenue declined 24pct YoY to TRY 56.49 bln (USD 1.54 bln).
Despite an increase of 4.8pct in crude steel production to 2.51 mln tons, sales volume fell 4.4pct to 2.2 mln tons, highlighting ongoing market challenges.
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 / 36.5 TRY
