Kardemir Announces 2020 Year-End Financial Results

Kardemir announced the year-end financial results
Kardemir announced the year-end financial results

Kardemir Inc. It closed the year 2020 with 7.52 billion TL net sales revenue, 1.26 billion TL EBITDA (Profit Before Interest, Depreciation, Tax) and 60.6 Million TL consolidated net profit.



According to the financial results announced to the public today, in 2020, the company's sales revenues increased by 2019% on amount, compared to 23,7 figures. In terms of production figures, crude steel production increased by 2020% in 2019 compared to 11,5, to 2.50 million tons, and finished rolled product sales rose 5.7% to 2.37 million tons.

The negative impact of the Covid-19 epidemic in the world steel industry, especially since March, has left its place for Kardemir as of the 4th quarter of the year with the effect of the measures taken, and this quarter, compared to the first three quarters of the year, has a very positive picture in terms of both operational and financial terms. . The foreign exchange short position of the company was significantly reduced with various transactions carried out by Kardemir in 2020. Kardemir has increased the number of personnel by 2020 on a consolidated basis in 147. During the epidemic process, occupational health and safety was prioritized by closely monitoring all risks through committees established within the company. Key indicators and expectations show that 2021 will be a better year. In this direction, Kardemir continues to take firm steps towards its goals with the maximum effort and support of all internal and external stakeholders.

Compared to 2019, Kardemir's Financial Figures for 2020 are as follows;

2019 2020

  • Consolidated Net Asset: 9.026.078.824 TL-10.819.528.539 TL
  • Consolidated Turnover: 6.076.355.980 TL-7.519.540.408 TL
  • EBITDA: 665.951.770 TL-1.264.195.980 TL
  • EBITDA Margin (%): 11% 16,8%
  • EBITDA TL / ton: 297 533
  • Consolidated Net Profit / Loss: 80.645.302 TL-60.651.819 TL

 

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