Izmir Iron and Steel (IDÇ) announced its 9-month activity report of 2023 to the Public Disclosure Platform (KAP).
According to this report, İDÇ announced that in the first 9 months of 2023, financing costs increased by 65% due to the increase in the exchange rate compared to the same period last year, and during the same period, the main operating profit equaled TL 2,684,500,000. Last year, it was realized with a 19% decrease in the main operating profit amounting to TL 2,179,608,918 in the reporting period.
İDÇ, which announced a period net profit of TL 426,406,303 in the first 9 months of last year, reported a period net loss of TL 741,454,247 in the same period of this year. While İDÇ's main operating profit margin was 15 percent in the same period last year, it dropped to 11 percent this year.
Billet production increased, rebar production decreased
In the January-September period, billet production increased by 4% annually to 1.07 mt, while rebar production decreased by 2% annually to 622,180 mt. In the 9-month period, it produced 200,810 mt of profiles, decreasing by 1% annually.
Finished product sales decreased by 7% annually to 1.02 mt, while export sales decreased by 14% annually to 201,130 mt.
Consolidated sales revenues increased by 13% compared to last year and amounted to 19,599,726,679 TL. EBITDA, which was 2,833,863,976 TL in the financial statements in the same period last year, decreased by 17.6 percent to 2,336,308,276 TL in the report period.
Raw material and product prices increased on average during the report period compared to the same period last year.
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