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Çemtaş Steel ended 2024 with net loss

Çemtaş Çelik Makina Sanayi ve Ticaret A.Ş. published their financial results for 2024 on the Public Disclosure Platform (KAP).

Çemtaş Steel ended 2024 with net loss

Çemtaş managed to close the year 2023 with a profit, but announced a net loss of TRY 29.8 million in 2024.

The company, which made a net profit of TRY 119.2 million in 2023, suffered a serious financial loss this year. Total revenue decreased from TRY 7.2 billion in 2023 to TRY 5.7 billion in 2024. While sales costs declined, profitability decreased.

Despite TRY 331 million of income from investment activities, TRY 32 million of investment expenses and TRY 840 million of net monetary position loss had a negative impact on the balance sheet.

Financing income amounted to TRY 201 million, while financing expenses were recorded as TRY 201.8 million.

Çemtaş's total shareholders' equity decreased from TRY 5.28 billion in 2023 to TRY 5.17 billion in 2024. Due to the net loss for the period, shareholders' equity decreased by more than TRY 100 million.

Çemtaş increased its investments in tangible fixed assets to TRY 2.96 billion.

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