Turkey's Kardemir, one of the largest industrial enterprise, 2018 has announced its first quarter results. Kardemir, which closed the first quarter of the year with a high performance, played a decisive role in the success of production and productivity and sales strategies as a result of ongoing investments. Omer Faruk Öz, Chairman of the Board of Directors of Kardemir, said that they will continue to expand their product range with high value-added strategic products that will increase their competitiveness while at the same time providing an increase in production in line with the economies of scale.
Kardemir, Karçel, Enbatı, Karsigorta and its subsidiaries such as Ermaden, Karçimsa, Vademsaş and EPİAŞ and Kardemir, the most established industrial corporation of the iron and steel industry, announced the first quarter results of 2018.
In the first quarter of the year, the steady increase in production and strong sales prices were reflected in the financial statements. Kardemir increased its production efficiency with its capacity utilization rates up to% 100 in all of its production processes, which also contributed to financial success.
Kardemir's sales revenue was 49 billion with an increase of 1,3 compared to the same period of the previous year; While the net loss of the company for the first three months of the year was TLX million, the same period of the previous year amounted to TL million.
We focused on high value added products.
Omer Faruk Öz, the Chairman of the Board of Directors evaluating the first quarter results of Kardemir said, ın We are continuing our efforts to produce steel grades that are used in automotive, defense, white goods, furniture and manufacturing industry sectors and almost all of them are in import substitution. Daha We follow a production strategy that will achieve higher successes in our company's financial results and also reduce the dependence of our country on foreign products in these high value-added products. Hem
Thanks to our employees.
Ömer Faruk Öz expressed that Kardemir was one of the companies that increased the market value in the first quarter of 2018 and thanked all employees who provided this successful results. Prices for their trust and support of our company thanks to all shareholders Oz, "Turkey's first integrated iron and steel plant, the establishment of 81. We see Kardemir as a trust to our country and all our stakeholders, and we work to meet their expectations at the highest level. Our only goal is to make Kardemir a company that is more competitive than yesterday, more profitable than yesterday, serving more regions and countries than yesterday,.
Our Steel Plant Investments Started.
Ömer Faruk Öz, who signed the contract with the contractor company for the new Continuous Casting Facility with the capacity of 1.250.000 tons / year, stated that the continuous casting plant investment, which will be carried out simultaneously with the expansion of the converter capacities 1 and 2, will be completed by the end of 2019. 3,5, the ultimate target of the mill, will reach a million tons production capacity.
The First Quarter of the 2018 Year, Kardemir's Financial Figures are as follows.
Consolidated net asset: 7.029.396.416-TL
Consolidated turnover: 1.288.506.668-TL
EBITDA Margin:% 29,3
EBITDA TL / ton: 632-TL
Consolidated net profit for the period: 235.053.326-TL