Kocaeli-based Turkish steel wire and rope producer Çelik Halat ve Tel Sanayii Inc. has announced its financial results for the first quarter of the current year.
In the given quarter, the company posted a net loss of TRY 192.15 million ($4.96 million), compared to a net loss of TRY 24.61 million recorded in the same period of the previous year, while its sales revenues declined by 19.6 percent year on year to TRY 378.35 million ($9.76 million). In addition, Çelik Halat ve Tel Sanayii’s operating loss came to TRY 132.73 million ($3.42 million), compared to an operating loss of TRY 7.96 million recorded in the first quarter of 2024.
In the first quarter, the company’s total steel rope sales value amounted to TRY 176.97 million ($4.57 million), increasing by 38.6 percent, and its galvanized wire sales value fell by 13.2 percent to TRY 37.15 million ($958,358), while its spring wire sales dropped by 10.2 percent to TRY 95.80 million ($2.47 million), all on year-on-year basis.