Erdemir Group Reports Consolidated Earnings Results for the Six Months of 2017; Provides Earnings Guidance for the Full Year 2017
August 09, 2017 at 10:01 am EDT
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Erdemir Group reported consolidated earnings results for the six months of 2017. For the six months the company reported EBITDA of $702 million and net sales revenue increased by 36% in the first half. First half net profit increased by 195% in the first half of 2017 year-over-year. In the first half, the company could spend $68 million. $46 million of this amount belongs to capital expenditures, and the rest was fixed assets and maintenance. After other expenses and non-controlling interests, the company reached to $487 million net profit.
The company plan to spend is $595 million in 2017. For the whole year, the company won't spend more than annual depreciation, which is $200 million.
Eregli Demir ve Celik Fabrikalari TAS is a Turkey-based company, which is engaged in the production of iron and steel rolled products, alloyed and non-alloyed iron, steel and pig iron castings, cast and pressed products, coke and their by-products. The Company produces plates, hot and cold rolled, tin, chromium and zinc coated flat steel and supplies basic inputs to automotive, white goods, pipes and tubes, rolling, manufacturing, electrics-electronics, mechanical engineering, energy, heating equipment, shipbuilding, defense, and packaging industries. The Companyâs subsidiaries include: Erdemir Asia Pacific Pte Ltd, Erdemir Celik Servis Merkezi Sanayi ve Ticaret AS, Erdemir Madencilik Sanayi ve Ticaret AS, Erdemir Muhendislik Yonetim ve Danismanlik Hizmetleri AS, Erdemir-Romania SRL and Iskenderun Demir ve Celik AS.
EREGLI DEMIR VE ÇELIK FABRIKALARI T.A.S. 
