KARDEMİR Announces 2019 Year-End Financial Results

Kardemir announced its financial results for the end of the year
Kardemir announced its financial results for the end of the year

Turkey's largest industrial enterprise in KARDEMİR, has announced its financial results for the 2019 year-end. Closing the year with a net profit of 80,6 million, the company made a profit over the consolidated period net profit of 14 million TL, which is the average expectation of 70 brokerage houses.

According to the financial results announced to the public today, with a 8,7% increase in sales revenues in terms of amount, as well as an increase of 2% in the sales volume of main products on the basis of tonnage, Kardemir successfully made a $ 2019 million investment in 98,2, which was full of negativities for the steel industry. and brought many innovations to the industry.

In the statement made by the Board of Directors of Kardemir regarding the financial results, the profitability in the sector in our country is significant due to the increase in the main raw material inputs, coal and ore prices as well as the decrease in the global prices in many other cost inputs. It was noted that it fell. Increasing protectionism pressure, serious decreases in consumption, uncertainties in the economy and fluctuation in foreign currency fueled these negativities further, “despite this, our company achieved a net profit of 2019 TL EBITDA and 665.951.770 TL on a consolidated basis.

We continue our activities with a production and investment policy that will increase our efficiency and competitiveness. In this challenging period, we are trying to overcome our products with a high value added product diversity by directing our productions to the products that are met with imports for the automotive, defense, rail systems and machinery manufacturing industry sectors. We are increasing our capacities day by day. Our production remained at 2019 levels due to the renewal investments in the blast furnaces and the steelworks in 2018. However, this year we aim to exceed 2,5 million tons. We carried our actual capacities over 3 million tons and we will reach the targeted 3,5 million tons production capacity with a new blast furnace that we will install. With our environmental investments, a greener Kardemir is emerging day by day. We renew all our processes with the digital transformation strategy. We complete our certification processes and make our products ready for international markets. We strive to make Kardemir a company that is stronger than yesterday, more competitive than yesterday and creates value for all its stakeholders, with sustainable achievements by putting Occupational Health and Safety and employee happiness at the center of our activities. ”

Financial Figures of KARDEMİR in 2019

  • Consolidated net asset:
  • Consolidated turnover: 6.076.355.980-TL
  • EBITDA: 665.951.770-TL
  • EBITDA Margin:% 11
  • EBITDA TL / ton: 297-TL
  • Consolidated net profit for the period: 80.645.069-TL


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