Turkish Kardemir has net loss in Q1
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Update time : 2020-06-02 22:46:15
Kardemir, an integrated long products producer in Turkey, reported that it had a net loss of 161.6 million liras in the first quarter of this year, compared to a net profit of 67.58 million liras in the same period a year ago.
Meanwhile, the firm’s operating loss was 85.36 million liras, compared to an operating profit of roughly 55.1 million liras in the first quarter of 2019. The sales revenue fell by 7.4% year on year, the consolidated EBITDA was around 137.4 million liras, compared to 207 million liras in the same period of 2019, and EBITDA profit dropped to 9.1% from 12.7% in the first quarter a year earlier.
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