KARDEMİR's 2018 First Half Financial Results Announced

The Board of Directors of Karabük Iron and Steel Enterprises (KARDEMİR) achieved the highest profitability since 2018, according to the first half financial results of 1995 announced.

The statement made by the KARDEMİR Board of Directors is as follows; According to our Consolidated Financial Statements, which have been audited by our Independent Audit Firm, our sales revenues increased 37% compared to the same period of the previous year, reaching 2.549 million TL, our EBITDA increased by 224% and reached 841 million TL and our net profitability reached 320 million TL with an increase of 439%. Kardemir, one of the most profitable companies in the sector with a 33% EBITDA margin; In the first half of 2018, it achieved the highest profitability since 1995, when it was privatized.

We would like to thank all our employees, from the most grassroots worker to the General Manager, for producing these successful results for Kardemir, Karabük and for our country by adding not only labor and forehead sweat to steel, but also congratulate each of them for their devotion.

To all of our shareholders, who continue their trust and support to KARDEMİR, to our public and local governments, tradesmen, merchants, non-governmental organizations, industrialists, customers and We would like to thank our suppliers, the local people and you, the members of the press, separately.

Our biggest goal is to sustain the successful business results achieved in all of our business processes by achieving strong sales prices since the year of 2017, a steady increase in our production and dynamic adaptation to market conditions with strict fiscal discipline.

Net profit in Turkey in the first 15, to carry out our first 10 and objective take place into the Top 500 at ISO 20 ranking in EBITDA ratio will continue our efforts with determination and Kardemir developing our corporate infrastructure will bring to a company serving to the country and more sectors than yesterday.

Kardemir's 2018 first half financial figures were as follows.

Consolidated net asset: 7.227.225.634-TL
Consolidated turnover: 2.548.691.978-TL
EBITDA: 840.810.027-TL
EBITDA Margin:% 33
EBITDA TL / ton: 745-TL
Consolidated net profit for the period: 438.925.723-TL