Turkish integrated long steel producer Kardemir Karabuk Demir Celik Sanayi ve Ticaret A.S. (Kardemir) has announced its financial and operational results for 2024.
In the given year, the company recorded a net loss of TRY 3.03 billion ($83.04 million) compared to a net profit of TRY 2.29 billion in 2023. The company registered an operating loss of TRY 1.06 billion ($29.05 million) last year, compared to an operating loss of TRY 4.39 billion in the previous year. Kardemir’s sales revenues declined by 24.2 percent year on year to TRY 56.49 billion ($1.54 billion).
In addition, in the given year the company’s EBITDA decreased by 9.3 percent year on year to TRY 4.31 billion ($118.13 million).
In 2024, Kardemir produced 2.51 million mt of crude steel, up by 4.8 percent, while its pig iron production came to 2.3 million mt, increasing by 5.6 percent, both on year-on-year basis. The company’s total sales moved down by 4.4 percent year on year to 2.26 million mt.