Erdemir group produced 4.59mn liquid steel in H1 (Jan-June), up by 7.8pc from the prior year H1. The steelmaker’s utilization rate was 94pc in the first half as compared to 89pc in H1 2020.
The company’s flat steel production rose by 5.6pc while long steel output slumped by 10.2pc in H1. Sales volumes for flat increased by 4pc, while that of long fell by 16.1pc.
Strong demand from the auto industry and higher prices supported the company’s revenues in H1. Net sales revenue rose by 48pc to $3,153mn, while profits soared to $738mn from $134mn in H1 2020.
| Erdemir operational highlights for H1 2021 | |||
|---|---|---|---|
| Production (mn mt) | 6M 2021 | 6M 2020 | Change |
| Liquid steel | 4.590 | 4.257 | 7.8% |
| Flat steel | 3.744 | 3.546 | 5.6% |
| Long steel | 4,04,000 | 4,50,000 | -10.2% |
| Shipments (mn mt) | |||
| Flat steel | 3,643.000 | 3,490.000 | 4.4% |
| Long steel | 3,80,000 | 4,53,000 | -16.1% |
| Revenue ($ mn) | |||
| Net sales | 3,153 | 2,128 | 48.2% |
| EBITDA | 1,207 | 381 | 216.8% |
| Net Profit | 738 | 134 | 450.7% |
In Q2, steel production increased to 2.127mn mt, up by 5.4pc from a year ago, while sales volume fell marginally to 2.012mn mt, down by 0.39pc. Q2 net sales revenue increased by 60.2pc with an export volume of 20.2pc compared to 25.3pc a year ago.
Erdemir group accounted for approximately 23pc of the total steel made in Turkey in H1.