KARDEMIR INC. announced record profit in its history. Kardemir, which has been making continuous investments since its privatization, started to make a profit after its investments ended and it closed its debts over the exchange rate. KARDEMIR INC. It announced that it has reached a net profit of 2021 billion TL in the first 6 months of 1,42.
In the written statement made by Kardemir, the following statements were included: “As Turkey's first industrial establishment, we continue to produce added value for our country in our 84-year steel production adventure. In the statement we made to the Public Disclosure Platform (KAP), our company reached a net profit of TL 2021 billion in the first half of 1,42 financial results, and continued its growth momentum in terms of finance, as in the first quarter results of 2021.
Our company, which achieved an EBITDA of 2020 million TL in the first half of 323,6, increased its EBITDA to 545 billion TL with an increase of 2,08% in the same period this year. Our sales revenues, on the other hand, increased by 96% compared to the same period of the previous year and reached 6,37 Billion TL.
As a result of our safe sales policy, value-added product development and marketing activities, efficient production and effective financial management, together with the demand and price increase in the steel markets, our total sales and profitability increased more than the market expectation compared to the first half of 2021. Carrying on its activities without hesitation with the approach of "Strong Management, Sustainable Production", Kardemir continues to be a pioneer in its sector with its qualified human resources.
Our company, which has achieved a noticeable increase in exports as well as its domestic marketing and sales activities, has started to report the “UFRS9- Currency Hedging (Hedge) Accounting” systematic on the balance sheet in order to achieve a more predictable financial reporting system. Our company will be able to manage currency-related risks and cash management more effectively with the “Hedge Accounting”, which is also used by Turkey's leading publicly traded companies.
We hope that Kardemir, which has contributed to the economy of Turkey and its region since its establishment, values domestic production, and pioneered the development of the region with its social responsibility projects, will be beneficial for our investors, employees and all stakeholders in the first 2021 months of 6.
Our Company's 2021 First Half Year Financial Figures Are as follows;
- Consolidated net asset : 13.608.235.205 TL
- Consolidated turnover : 6.372.092.783 TL
- EBITDA: TL 2.082.649.242
- EBITDA Margin %: 32,7%
- EBITDA TL/ton: TL 1.762
- Consolidated net profit for the period: 1.420.608.870 TL “