Kardemir increased steel production by 2.7% y/y in Q1

Turkish long-product manufacturer Kardemir increased its steel production by 2.7% year-over-year in the first quarter of this year, to 634,000 tons, and its pig iron production by 0.9% year-on-year, to 653,000 tons, according to SteelOrbis.

At the same time, rolled steel sales for the same period fell by 11.6% year-on-year to 562,000 tons.

During the reporting period, Kardemir recorded a net profit of 24.5 million Turkish lira ($540,000). This indicates a significant improvement compared to the same period last year, when the company incurred a net loss of 1.94 billion Turkish lira.

Kardemir’s other key figures for the first quarter were as follows:

• operating profit: amounted to 757 million Turkish lira ($16.7 million) compared to an operating loss of 674.5 million Turkish lira in the first quarter of 2025;
• revenue: decreased by 17.9% year-on-year, amounting to 15.5 billion Turkish lira ($341 million);
• consolidated EBITDA: reached 2.02 billion Turkish lira ($44.53 million), which is 34.5% higher than last year’s figure.

As reported by GMK Center, Kardemir commissioned a new continuous casting machine (CCM) No. 2 in early April. Its annual production capacity is 1.2 million tons. The equipment is designed to produce semi-finished products of various sizes.