Turkish steel mill Çemtaş Çelik Makina Sanayi ve Ticaret A.
Ş (Çemtaş) from Bursa announced financial and operating results for the first quarter of this year.
Accordingly, in this quarter the company recorded a net loss of 270.38 million Turkish lira (5.98 million US dollars) compared to the net loss in Turkish lira. In the first quarter of last year, sales revenue amounted to 1.50 billion Turkish lira ($33.18 million), down 9.8 percent year on year. In addition, Çemtaş's operating profit in the first quarter decreased by 42.1 percent year-on-year to 61.05 million Turkish liras (US$1.35 million).
In the first three months of this year, the company's steel billet output was 33,996 tons, down 18.1 percent, while its rolled steel output was down 18.6 percent to 29,908 tons. mt, both year-on-year.
Meanwhile, in the first quarter, sales of Chemtash to the domestic market fell 18.0 percent year-on-year to 18,824 tons, while export sales fell 1.4 percent year-on-year to 10,969 tons.
