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KARDEMİR announced its first quarter financial results of 2024

Karabük Demir Çelik Sanayi ve Ticaret A.Ş KARDEMİR announced its financial results for the first quarter of 2024 with inflation accounting applied.

KARDEMİR announced its first quarter financial results of 2024

Kardemir's first quarter revenue of 2024 decreased by 24% compared to the same period last year, reaching 12 billion TL. However, EBITDA increased compared to the same period last year, reaching 1.4 billion TL, and gross profit reached 1.2 billion TL.

Due to the decrease in sales, net profit decreased by 52.2% compared to the same period of the previous year, reaching 831 million TL. Despite the negative impact of the decrease in sales, the increase in EBITDA and gross profit margin indicates that the company has begun to recover. Although the imbalance in cash flows is not sustainable, the balance sheet signals that the coming periods will be better.

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