Turkish rebar producer İzmir Demir Çelik Sanayi A.Ş. (İDÇ) has announced its financial and operational results for the first quarter this year.
Accordingly, in the given quarter the company registered a net loss of TRY 706.98 million ($18.23 million), compared to a net loss of TRY 1.55 billion in the first quarter of 2024, while its sales revenues rose by 10.9 percent year on year to TRY 13.29 billion ($342.62 million). İDÇ also reported an operating profit of TRY 380.09 million ($9.80 million), compared to an operating loss of TRY 315.33 million in the same period of the previous year.
İDÇ said that in the first three months of the current year its steel billet output increased by 43.0 percent to 547,499 mt, while its rebar production totaled 260,758 mt, growing by 15.0 percent, both year on year. Besides, 102,314 mt of rebar was also produced by the company’s contractual partners in the given period, with a year-on-year increase of seven percent. In the given period, it produced 80,880 mt of steel sections, up by five percent year on year.
In the first quarter, İDÇ’s finished steel sales moved up by 17.0 percent to 442,479 mt, while its export sales advanced by 219.0 percent to 168,176 mt, both year on year.