According to the results published by CVK Madencilik on the Public Disclosure Platform (KAP), the net profit of the company, which generated a net profit of TRY 435.8 million in 2023, increased by 119% compared to last year and reached TRY 953.9 million.
Especially the net profit in the last quarter was remarkable, increasing to TRY 591 million from TRY 203 million in the previous quarter.
Sales revenues increased by 22% to TRY 3.1 billion from TRY 2.6 billion in 2023. Gross profit was TRY 1.1 million.
CVK Madencilik, which reported an operating profit of TRY 827.3 million at the end of 2023, announced TRY 588.4 million for 2024. This corresponded to a decrease of 29%.
Operational profitability and financial position
EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) increased slightly by 1% to TRY 1,029 million. Net monetary position losses declined from TRY 568 million to TRY 184.5 million.
Increase in debt level
The company's net debt rose sharply from TRY 310 million in the third quarter to TRY 1.6 billion in the fourth quarter. In contrast, shareholders' equity increased by 9% from TRY 6 billion to TRY 6.5 billion.
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