Turkish integrated steelmaker OYAK Mining and Metallurgy Group has announced its financial and operational results for the first half of this year.
In the given half, the company reported a net profit of TRY 10.39 billion ($308.29 million), compared to a net loss of TRY 3.99 billion in the same period last year, while its sales revenues amounted to TRY 100.22 billion ($2.97 billion), up by 57.5 percent year on year. OYAK Mining and Metallurgy Group’s operating income in the given quarter amounted to TRY 13.37 billion ($396.70 million), compared to an operating income of TRY 3.66 billion in the same period of the previous year.
Regarding the operational results, in the given period OYAK Mining and Metallurgy Group produced 4.44 million mt of crude steel, rising by 41.0 percent, including 1.76 million mt of crude steel produced at the Eregli works, and 2.68 million mt at the Iskenderun works.
In the given period, the flat steel output of OYAK Mining and Metallurgy Group increased by 17.5 percent to 3.58 million mt, while the company’s long steel output amounted to 450,000 mt, moving up by 125.0 percent, both year on year. Additionally, in the given period, the flat steel sales volumes of the company went up by 15.4 percent year on year to 3.49 million mt, while its long steel sales volumes grew by 147.8 percent year on year to 441,000 mt.
During the first half, the company exported 738,000 mt of finished steel to 34 countries.