According to İzmir Demir Çelik Sanayi A.Ş.’s (İDÇ) financial report covering the January 1–June 30, 2026 period, consolidated revenue decreased by 6% year-on-year to TRY 33.95 billion. Revenue stood at TRY 35.96 billion in the first half of 2025.
İDÇ reported a gross profit of TRY 600.1 million in the first half of 2025, while recording a gross loss of TRY 737.6 million in the same period of 2026. Operating results also turned from a profit of TRY 267.4 million last year to a loss of TRY 2.16 billion.
The company’s consolidated net loss amounted to TRY 529.4 million, compared with a net loss of TRY 949.3 million in the same period last year. EBITDA declined from TRY 1.66 billion in the first half of 2025 to negative TRY 781.7 million.
Financing expenses reached TRY 3.6 billion
İDÇ’s financing expenses amounted to TRY 3.60 billion in the first half of 2026, while the company recorded a net monetary position gain of TRY 4.28 billion. Following these developments, the loss before tax from continuing operations stood at TRY 681.9 million, while the net loss for the period was TRY 529.4 million. In the same period last year, the company had reported a net loss of TRY 949.3 million.
Finished steel production increased to 857,400 tonnes
İDÇ’s billet production decreased by 1% year-on-year to 1.09 million tonnes in the first six months of 2026. Rebar production increased by 4% to 519,037 tonnes, while section steel production declined by 4% to 146,229 tonnes. The volume of rebar produced on a toll-manufacturing basis decreased by 4% to 192,109 tonnes.
Including toll production, the company’s total finished steel production increased by 1% to 857,375 tonnes.
Billet sales increased by 18%
During the reporting period, finished steel sales from production increased by 2% year-on-year to 863,832 tonnes, compared with 848,631 tonnes in the first half of 2025.
İDÇ’s billet sales also increased by 18%, rising from 233,582 tonnes to 276,599 tonnes.
The company’s export volume increased by 52% year-on-year, from 287,358 tonnes to 435,872 tonnes. İDÇ generated $254.28 million in exports during the first six months of 2026, while its overseas revenues increased by 31% year-on-year.
Bar mill capacity utilization rose to 115%
İDÇ has an annual steelmaking capacity of 3.129 million tonnes, a bar mill capacity of 900,000 tonnes, and a section mill capacity of 485,000 tonnes.
The steelmaking capacity utilization rate remained unchanged at 70% in the first half of 2026. Capacity utilization at the bar mill increased from 111% to 115%, while the section mill utilization rate declined from 63% to 60%.
Short-term financial borrowings stood at TRY 25.27 billion
As of June 30, 2026, İDÇ’s short-term borrowings amounted to TRY 23.40 billion. Including the TRY 1.87 billion current portion of long-term borrowings, total financial borrowings classified as short-term stood at approximately TRY 25.27 billion.
The company’s long-term borrowings amounted to TRY 4.02 billion.
Total short-term liabilities stood at TRY 27.79 billion, while total long-term liabilities amounted to TRY 5.71 billion. These liabilities include financial borrowings as well as trade payables and other liabilities.
Total assets reached TRY 61.39 billion
As of June 30, 2026, the company’s total assets stood at TRY 61.39 billion, while total equity amounted to TRY 27.89 billion. Current assets were recorded at TRY 17.60 billion, while non-current assets stood at TRY 43.79 billion.
İDÇ’s current ratio was 0.63, its liquidity ratio was 0.29, and its total liabilities-to-equity ratio was 1.20. Net working capital stood at negative TRY 10.19 billion.
The company’s financial statements were prepared under IAS 29 (Financial Reporting in Hyperinflationary Economies), with comparative figures adjusted to reflect purchasing power as of June 30, 2026.
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