Turkey’s Izmir Demir Celik’s (IDC’s) billet (logs) production increased by 23pc to 745,242mt in H1 2021 against the 606,722mt produced in the same year-ago period.
The company’s finished longs production increased by 27pc to 792,404mt in H1 2021 against the same year-ago period. Within the longs segment, rebar production grew by 22pc to 471,807 with profile iron climbing by 35pc to 155,313mt, and contract manufacturers’ rebar output increasing by 27pc to 792,404mt in the same timeframe.
IDC did not provide capacity utilization rates or sales volumes for H1 2021 or the second quarter but indicated its 1.4mn mt annual capacity steel mill worked at a capacity utilization rate of close to 106pc in Q1 2021 compared to 86pc in the same year-ago quarter.
Its 900,000mt annual capacity bar rolling mill operated at 105pc in January-March 2021 compared to 86pc in the same year-ago period while its 499,000mt annual capacity profile rolling mill operated at 62pc in the same period. Sales of semi-finished steel rose by 213pc to 31,450mt while finished steel sales rose by 22pc to 760,007 in the same timeframe.
The company’s revenue doubled to TRY4.3bn ($505mn) in H1 2021 against the same year-ago period. In H1 2021, revenue from exported goods and services rose by 14pc to $108mn against the same period in 2020.
Gross profit climbed tenfold to TRY468mn in H1 2021 compared to TRL46mn in January-June 2020. Net profit grew to TRY29mn from a loss of TRY459mn in the same period, driven by financing expenses of TRY522mn.
IDC, which employs 1,208 workers, is owned 58pc by Şahin-Koç Steel, 35pc via public shares, and 7pc by Halil Sahin.