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 191.0 million ($4.92 million), compared to the net loss of TRY 85.36 million in the same quarter of the previous year. Yükselen Çelik registered an operating loss of TRY 222 million ($5.72 million) in the given period, compared to an operating loss of TRY 119.2 million in the same quarter of the previous year, while its sales revenues decreased by 49.5 percent year on year to TRY 263.92 million ($6.8 million).
Also, the company’s registered an EBITDA loss of TRY 175.6 million ($4.5 million) in the first quarter.
The company also stated that its specialty steel processing capacity has increased to 200,000 mt from 100,000 mt.