Erdemir Group reports earnings up 262% in Q1 2017

Turkish steelmaking group Erdemir has announced earnings before interest, taxes, depreciation and amortisation (Ebitda) of TRY1.33 billion ($362.44 million) for the first quarter of 2017.

This was an increase of 262.38% from Ebitda of TRY365.79 million ($100.02 million*) reported for the corresponding period in 2016. Output The Erdemir Group has two steel plants, one in northern Turkey and one in the southern part of the country, with combined crude steel production capacity of 9.20 million tpy. The group produced 25% of Turkey’s total crude steel output in the first three months of 2017. This meant that the company produced 2.304 million tonnes, 1% less than its January-March output in 2016. Its Erdemir plant at Eregli in the north produced 877,000 tonnes of crude steel in January-March, down by 8% year-on-year. The plant also produced 466,000 tonnes of cold rolled coil (CRC) and 651,000 tonnes of hot rolled coil (HRC). The combined total of 1,117,000...

Published

Serife Durmus

April 21, 2017

17:00 GMT

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