Kocaer Çelik's net profit amounted to TL 1,116 million

In a statement made to the Public Disclosure Platform (KAP), Kocaer Çelik Sanayi ve Ticaret A.Ş. announced that it increased its net profit for the 9 months of 2023 to 1,116 million TL. The company increased its net profit for the January-September period of 2023 to 1,116 million TL.

In the statement made to the Public Disclosure Platform (KAP), the following were recorded:

"The quarterly increase in sales volume and effective cost management ensured that the upward trend in gross profit margin continued in the third quarter. Between 1 July - 30 September 2023, gross profit margin increased to 23.6 percent from 20.4 percent previously. In parallel with gross profitability, EBITDA margin also increased compared to the previous quarter and stood at 17.5 percent. In the first 9 months of 2023, our Company recorded a total operating profit of TL 1.58 billion. On the other hand, financing expenses decreased significantly in the January-September 2023 period compared to the same period of the previous year and amounted to TL 520 million. With the contribution of both the improvement in sales revenues and margins and the sharp decrease in financing expenses, the company managed to increase its total net profit by 146 per cent in the first 9 months of 2023 compared to the same period of the previous year, from TL 454 million to TL 1,116 million.''