Kardemir Çelik Sanayi A.Ş. announced its financial results for the first half of 2026. According to the consolidated financial results of the company and its subsidiary for the January 1–June 30, 2026 period, revenue increased from TL 11.03 billion in the same period of 2025 to TL 13.92 billion. Cost of sales also rose from TL 9.32 billion to TL 12.17 billion.
Gross profit reaches TL 1.75 billion
Kardemir Çelik’s gross profit increased from TL 1.71 billion in the first half of 2025 to TL 1.75 billion in the same period of 2026. The company reported a gross profit margin of 12.57%, compared with 15.47% in the corresponding period of the previous year.
The company’s operating profit rose from TL 1.15 billion to TL 1.23 billion. Operating profit before financing income and expenses increased from TL 1.22 billion in the first half of 2025 to TL 1.30 billion. The operating profit margin stood at 8.83%, down from 10.42% in the same period last year.
Net profit declines to TL 410.4 million
Kardemir Çelik’s net profit from continuing operations stood at TL 410.4 million in the first half of 2026, compared with TL 855.7 million in the same period of 2025. This represents an approximately 52% year-on-year decline in net profit.
The company’s net profit margin stood at 2.95%, down from 7.76% in the comparative period. The pre-tax profit margin also declined from 7.62% to 2.60%.
Kardemir Çelik’s financing expenses increased from TL 385.4 million to TL 959.99 million during the same period. Financing income rose from TL 10 million to TL 26.4 million. As a result, the company’s pre-tax profit fell from TL 839.7 million in the first half of 2025 to TL 362.2 million.
Total assets rise to TL 32.32 billion
Kardemir Çelik’s total assets increased from TL 28.24 billion at the end of 2025 to TL 32.32 billion as of June 30, 2026. Current assets rose from TL 8.86 billion to TL 11.45 billion, while inventories increased from TL 7.11 billion to TL 9.54 billion.
The company’s equity increased from TL 10.39 billion to TL 11.28 billion over the same period. Current liabilities stood at TL 11.49 billion, while non-current liabilities amounted to TL 9.55 billion.
Net debt stands at TL 13.79 billion
The company’s total financial debt stood at TL 13.87 billion as of June 30, 2026, compared with TL 12.76 billion at the end of 2025. After deducting cash and cash equivalents, net debt was calculated at TL 13.79 billion. Net financial debt accounted for 55% of total capital.
Meanwhile, cash flow from operating activities amounted to TL 655.4 million in the first half of 2026, up from TL 295.9 million in the same period of the previous year. Cash and cash equivalents at the end of the period stood at TL 73.3 million.
New profile rolling mill to start production in 2027
Kardemir Çelik announced that it started investing in a new large-size profile rolling mill in the first quarter of 2026. The company plans to start production at the facility in 2027. According to its annual report, the new facility is expected to expand the company’s product range, strengthen its competitive position, and increase both revenue and exports.
Comments
No comment yet.