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2,023.50 TL Gold (gr) Gold (gr)

In 1-2 years, we can even leave our strong balance sheet behind

Kocaer Çelik Deputy Chairman Orhan Timurhan said, "The strong balance sheet results in the third quarter continued as of the end of the 11th month. After 1-2 years, we can even leave our strong balance sheet behind."

In 1-2 years, we can even leave our strong balance sheet behind

In his assessment to Bloomberg HT, Kocaer Çelik Deputy Chairman Orhan Timurhan said, “In the 11th month, our country's iron and steel shrank by 30 percent on a monthly basis. We continue to grow. Strong balance sheet results in the third quarter continued as of the end of the 11th month. We are a company with high R&D. We stated that we will close the year with joy. We anticipate that this trend will continue next year as well. Our ultimate goal is to make all the products we produce with added value. Our production share in solar energy profiles was 10-15 percent," he said.

Kocaer Çelik's net profit in the first 9 months increased by 349 million TL to 453.6 million TL.

Timurhan, who stated that short-term liabilities have increased due to the cash payment in raw materials, “We will grow in solar energy investments, we have meetings in the USA. We will invest 10 million euros in wind energy, we are waiting for permissions. After 1-2 years, we can even leave our strong balance sheet behind," he said.

Timurhan said, “This year, we meet two-thirds of our need from renewable energy.”

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