Turkish manufacturer of steel wire and ropes Çelik Halat ve Tel Sanayii AŞ from Kocaeli. announced its financial results for the first half of this year.
During the specified period, the company recorded a net loss of 516.81 million Turkish liras (10.78 million US dollars) compared to a net loss of 611.98 million Turkish liras recorded during the same period last year. In the previous year, while the company's sales revenue decreased 10.1 percent year-on-year to 1.08 billion yuan ($22.52 million). In addition, Celik Khalat ve Tel Sanayi's operating loss for the first six months amounted to 232.76 million Turkish liras (4.85 million US dollars) compared with an operating loss of 149.57 million Turkish liras recorded in the same period last year. 2025.
In the first half of the year, the company's total sales of steel ropes totaled 596.26 million Turkish lira ($12.43 million), down eight percent, and sales of galvanized wire decreased by two percent from 117.56 million ($2.45 million), while sales of spring wire fell by 18% to 199.89 million yen ($4.17 million), and all this on an annualized basis. At the same time, sales of prestressed reinforced concrete decreased by 20% compared to the same period last year and amounted to 163.93 million Turkish liras (3.42 million US dollars).
The company stated that the slowdown in the global economy and the decline in economic activity led to a slowdown in sales processes in the countries where it operates. Celik Khalat added that despite the shrinking market, which has a negative impact on his business, he expects positive business results in the long term amid expectations of lower commodity prices, lower freight rate volatility and his strategy to enter new export markets.
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