12
Mar
13:33
Erciyas posts lower 2023 profit despite revenue surge
Turkish pipemaker Erciyas Boru increased its 2023 revenue by 135% on-year to TRY 8.263 billion ($347.9 million), Kallanish learns from the company’s standalone income statement.
Cost of sales, however, rose to $286.5m from $175.9m in 2022. Consequently, net profit in 2023 fell to $3.4m from $10.7m in 2022.
The company reported 211,000 tonnes of sales in 2023 versus 117,000t a year earlier.
Exports rose by 94%, accounting for 84% of total sales tonnage…
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Anonymous
Very good overview of the weekly steel market.
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