Yükselen Çelik expects sales revenue to increase in 2024

Yükselen Çelik expects sales revenue to increase in 2024

Yükselen Çelik, one of the leading companies in the special steel industry, shared its 2023 activity report with the public. The company expects a significant increase in sales revenue for 2024 compared to 2023.

Yükselen Çelik announced its 2023 financial results. The company, which has been offering value-added products to the steel industry for many years, stated that increasing inflation and energy prices in 2023 led to an increase in costs and that the demand for the products it sold decreased due to the difficulties experienced by buyers in accessing credit.

According to its 2023 annual report, the steel company announced a net loss of 147.5 million TL. In addition, it was noted that the operating profit of the company, which made a net profit of 52.1 million TL in 2022, decreased by 80.1% annually to 164.62 million TL. According to the financial results of 2023, Yükselen Çelik's sales revenue decreased by 51% annually to 1.41 billion TL and its EBITDA decreased by 72.8% annually to 218.4 million TL.

Stating that he expects sales revenue to increase significantly in 2024, Yükselen Çelik evaluated that sales tonnages decreased and stock costs increased as a result of the desired investments and growth in export markets not being realized.