Turkey’s Celik Halat ve Tel Sanayii reports net loss for Jan-Sept

Turkey’s Celik Halat ve Tel Sanayii reports net loss for Jan-Sept

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Kocaeli-based Turkish steel wire and rope producer Celik Halat ve Tel Sanayii Inc. has announced its financial results for the first nine months of the current year.

The company registered a net loss of TRY 14.16 million ($1.67 million) in the first nine months of the year, compared to a net loss of TRY 3.51 million recorded in the same period of the previous year, while its sales revenues decreased by five percent year on year to TRY 231.42 million ($27.32 million), according to the company’s financial report.

In the given period, Celik Halat ve Tel Sanayii’s total steel rope sales value amounted to TRY 101.73 million ($12.01 million), falling by six percent, and its galvanized wire sales value decreased by 47 percent to TRY 13.32 million ($1.57 million), while its spring wire sales fell by three percent to TRY 40.76 million ($4.81 million), all on year-on-year basis.

According to the company’s statement, in the first nine months of the year Celik Halat ve Tel Sanayii’s domestic sales fell by four percent, while its overseas sales decreased by 14 percent, both on year-on-year basis. In the same period, the company’s domestic sales contributed 48 percent of its overall sales, from 42 percent recorded in the same period of 2019, while the share of its overseas sales fell to 52 percent, from 58 percent in the first nine months of the previous year.

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