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Çelik Halat ve Tel posted a loss for the 9-month period

Çelik Halat ve Tel Sanayii A.Ş. announced its financial results for the January-September period of 2023.

Çelik Halat ve Tel posted a loss for the 9-month period

Çelik Halat ve Tel Sanayi, located in Kocaeli, reported a net loss of 45.2 million TL in the January-September period of 2023 compared to the same period of the previous year. In this period, the company's sales revenue decreased by 7.5% y-o-y to 996.86 million TRY.

20.3% decrease in international sales

Wire rope sales increased by 2% y-o-y to TRY427.27 million, while galvanised wire and spring wire sales increased by 9% y-o-y to TRY201.57 million and TRY58.69 million, respectively.

In the first 9 months of 2023, domestic sales increased by 5.1% y-o-y, while international sales decreased by 20.3%. The share of domestic sales in total sales revenue increased from 50.5% to 57.4% in 9-month period. The share of international sales decreased from 49.5% to 42.6%.

Çelik Halat ve Tel Sanayi expects raw material prices to decrease and the volatility of freight prices to decrease in the coming period.

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