Kardemir reported a loss in the third quarter

Kardemir Karabük Demir Çelik Sanayi ve Ticaret A.Ş. announced its 2024 third quarter financial results on the Public Disclosure Platform (KAP). While the company announced a loss of TRY 3.1 trillion (TRY 3,194,194,715) in the first nine months of 2023, it reduced its loss to TRY 2.9 trillion (TRY 2,963,088,497) in the same period of 2024.

According to the third quarter results, Kardemir reported a net loss of TRY 970 million (TRY 970,809,761). The company's revenues declined by 21% compared to the same period of the previous year and its shareholders' equity decreased by 2% on a quarterly basis.

Kardemir, which generated revenues of TRY 52 trillion (TRY 52,118,632,190) in the first nine months of last year, had to reduce its revenues to TRY 41 trillion (TRY 41,016,801,367) in the same period of this year. The company, which recorded an operating profit of TRY -2.7 trillion (TRY -2,710,745,010) in 2023, reported an operating loss of TRY -1 trillion (TRY -1,038,376,342) for this year.