Turkish steel producer Yükselen Çelik has announced its financial results for the first quarter this year.
In the given quarter, the company reported a net loss of TRY 61.81 million ($1.88 million), down by 29.0 percent compared to the net loss of TRY 87.07 million in the same quarter of the previous year. Yükselen Çelik registered an operating loss of TRY 86.32 million ($2.53 million) in the given period, compared to an operating profit of TRY 15.59 million in the same quarter of the year before, while its sales revenues decreased by 31.5 percent year on year to TRY 378.78 million ($11.52 million).
Also, the company’s registered an EBITDA loss of TRY 78.62 million ($2.40 million) in the first quarter.
In the same period, Yükselen Çelik’s sales volume amounted to 8,182 mt, down by 29.8 percent year on year.