Kardemir 23. The Ordinary General Assembly was held

Ordinary General Assembly Meeting of 2017 activities of Karabük Demir Çelik Sanayi ve Ticaret A.Ş. (KARDEMİR) was held at Kardemir Education and Culture Center on 28 March 2018. In addition to our Board Members, General Manager Ercüment Ünal and shareholders were present at the meeting.

Having made the opening speech of the General Assembly, Ömer Faruk ÖZ, the Chairman of the Company, stated that Kardemir increased its production in all indicators in 2017, and its liquid steel production increased by 10,6% to 2 million 403 thousand tons, and the final product production increased by 10,5% to 2 million 295 tons. He said that the amount of final product sales increased by 12,7% to 2 million 326 thousand tons, and sales revenues increased by 70% to 3 billion 973 million TL, and 2017 was closed with a profitability of 18,8% EBITDA and 251,5 million TL. .

Stating that Kardemir focused on product diversification with high value added strategic products that will contribute to closing the foreign trade deficit in the Turkish Steel Sector in 2017, ÖZ added that the added value used in the automotive, defense, white goods, furniture industry and other manufacturing industries in Çubuk Coil Rolling Mill He noted that some of the new steel grades were produced, while others continued to work on new steel grades, the Rail Hardening Plant was completed and commissioned in 2017, thereby increasing the useful life and added value of the rail.

Target, 3,5 Million Tons Production Template Capture

Stating that the assembly works at the Railway Wheel Factory, which is under construction within the scope of strategic investment, have been completed at 95% in some lines and the plant is planned to be commissioned until the end of this year, Ömer Faruk ÖZ said, “Our goal is to reach Kardemir with a production pace of 2019 million tons until the end of 3,5”. said. In this context, Ömer said that two existing 90-ton converters in Çelikhane will be increased to 120 tons, a new crucible furnace will be installed and a new continuous casting plant with a capacity of 1.250.000 tons / year will be replaced. Faruk ÖZ added a separate paragraph to the Port of Filyos, whose foundations were laid by Prime Minister Binali Yıldırım at the end of 2016, in Zonguldak Filyos Town and stated that the activities for the completion of infrastructure works at the port until July 15, 2019, and this port will further increase the export potential of Kardemir. .

Environment and Energy Investments,

Providing information about the ongoing environmental and energy investments in the General Assembly speech, Chairman of the Board Ömer Faruk ÖZ said that all environmental investments will be completed by the end of this year, the 4th Air Separation Plant has been completed and put into operation, and the process of supplement regarding the 30 MW new generator investment continues. Stating that, with the energy investments planned to be completed in 2019, he said that by converting the waste gases generated in the processes into energy, the energy costs in unit production will be reduced and the internal coverage rates in electricity will be increased.

Social Responsibility and Training Activities,

Our Chairman of the Board stated that the company has completed very important social responsibility projects until today and that a new high school, which is still under construction within the scope of the “A School for Every City” campaign, started by the Prime Ministry, will be offered to the service of National Education until the next academic year. He noted that the training activities for increasing the knowledge and competencies of the employees were continued continuously, and that our employees received an average of 2017 hours of training per person: Personal Development, Occupational Health and Safety, Vocational and Technical Trainings.

Expectations for 2018;

Separating the last part of his speech to the expectations for 2018, the Company's Chairman of the Board, Ömer Faruk ÖZ said, “In 2018, we aim to increase our sales revenues by 25% with high value added products and production increases. Resetting the customs duties on rebar, close to our geography developments, the Middle East and efforts to improve producers' shares in African countries, steps to be taken regarding China's idle industrial capacity, improvements will be experienced in commodity markets, Turkey's open market position and finally measures of protection announced by the US and the course of the global economy stands out as headlines that will steer the industry in 2018. Our management will provide product variety with high value-added products, increase our service quality and productivity, decrease our costs, and make accurate and rapid decisions in all sales and purchases with the experience and visionary perspective of 80 years of deep-rooted industrial culture. He will be implementing a strategy that will achieve sustainable success with an occupational health and safety and environmentally oriented approach. ”

The Ordinary General Meeting, chaired by Ömer Faruk ÖZ, the Chairman of the Meeting, ended with the discussion of the agenda consisting of 12 items, one by one.

 

Armin

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