The management of Karabük and Çelik İşletmeleri (KARDEMİR) AŞ met with the analysts of investment companies at the meeting held in Istanbul.
In the statement made by KARDEMİR AŞ, 35 analysts from different investment companies attended the meeting, General Manager (CEO) Ercüment Ünal, Financial Affairs Coordinator (CFO) M. Furkan Ünal, Sales and Marketing Coordinator Reyhan Özkara and Purchasing Manager Harun Cebeci in 2017 and the developments in the steel sector in Turkey, the company's 2017 financial results, investments and information is given about the prospects for 2018.
At the meeting, the company's liquid steel production increased by 2017% in 11 compared to the previous year to 2 million 403 thousand tons, the total final product production increased by 10,5% to 2 million 295 thousand tons, and sales revenues increased by 70% to 3 billion 973 million TL. It has been announced that our company, which has reached the year and closed the year with a net profit of 251,5 million TL, is expected to be in the range of 2017-18,8% in 2018, the EBITDA Margin which was 23% in 25.
At the meeting where analyst questions were answered, it was stated that our company will achieve the targeted 4 Million tons production tempo at the end of next year with the complementary investments and the 3,5 continuous casting machine which was held in Çelikhane and the Teker Factory investment, whose installation works have been completed to a great extent, will be completed by the end of the year.