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Feb.18.2019 1USD=6.7623RMB
  SteelHome >>Steel>>Market Info>>Special Studies
 
Erdemir Group Reports Fourth Quarter 2018 and 12 Months 2018 Results

http://en.steelhome.cn [SteelHome] 2019-02-11 14:13:34

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OYAK Mining Metallurgy Group Recorded USD 1,160 million Net Profit in 2018. The net profit increased by 13% yoy in 2018. In 2018, Ereğli Plant produced 1,701 thousand tons CRC and 2,622 thousand tons HRC in total 4,323 thousand tons with a decrease of 3% yoy. İskenderun Plant produced 980 thousand tons long steel and 3,421 thousand tons HRC in total 4,401 thousand tons. (Intragroup transactions are excluded.)

In 2018, Ereğli Plant had 4,320 thousand tons steel shipments, and İskenderun Plant had 4.081 thousand tons. (Intra-group transactions are excluded.)

OYAK Mining Metallurgy Group recorded USD 5,598 million consolidated sales in 2018.

EBITDA was increased by 15% yoy and increase to USD 1,720 million and the EBITDA margin was recognized as 30.7%. Group recorded USD 1,160 million net profit with an increase of 13% yoy in 2018. Profit margin was 20.7%.

OYAK MINING METALLURGY GROUP FINANCIAL DATA

INDICATORS

 

2014

2015

2016

2017

1Q 2018

2Q 2018

3Q 20018

4Q 20018

2018

Production (tonnes)

 

 

 

 

 

 

 

 

 

Hot

5,208,398

5,579,792

5,290,468

5,890,318

1,529,007

1,528,025

1,526,727

1,458,410

6,042,168

Cold

1,745,948

1,820,136

1,780,990

1,822,275

430,175

435,334

438,261

397,650

1,701,420

Long

1,152,663

1,562,646

1,572,380

1,328,036

251,083

201,020

231,596

295,969

979,668

Sales (tonnes)

 

 

 

 

 

 

 

 

 

Hot

5,145,443

5,384,357

5,302,957

5,685,718

1,479,562

1,410,193

1,419,401

1,422,581

5,731,737

Cold

1,787,798

1,844,841

1,860,029

1,907,805

457,690

429,477

394,426

468,419

1,750,012

Long

1,162,784

1,551,985

1,587,402

1,364,666

248,793

172,863

234,391

263,353

919,399

Sales Price (USD/tonnes)

 

 

 

 

 

 

 

 

 

Hot

608

463

406

542

609

651

630

619

627

Cold

756

642

561

689

759

785

768

753

766

Long

560

403

371

480

581

622

573

538

574

EBITDA (USD/tonnes)

 

 

 

 

 

 

 

 

 

Main Product

136

91

95

159

197

223

219

172

202

Net Working Capital Turnover Days

170

148

196

161

156

188

237

196

196

Trade Receivables Turnover Days

56

50

63

51

46

62

71

59

59

Trade Payables Turnover Days

17

22

36

26

30

43

34

38

38

Inventories Turnover Days

131

120

169

136

140

169

200

174

174

OYAK MINING METALLURGY GROUP FINANCIAL DATA

CONSOLIDATED STATEMENTS OF INCOME

(USDm)

2014

2015

2016

2017

1Q 2018

2Q 2018

3Q 2018

4Q 2018

2018

Sales

5,252

4,382

3,855

5,115

1,422

1,422

1,380

1,373

5,598

Operating Income/(loss)

958

585

697

1,325

401

447

433

311

1,592

 - Operating margin %

18.2%

13.4%

18.1%

25.9%

28.2%

31.4%

31.4%

22.6%

28.4%

Financing income (expense) - net

                (66)

                  (68)

 31

 24

 11

113

(4)

34

 153

Profit/(Loss) before taxation

892

517

727

1,349

412

559

429

345

1,745

Income tax expense/(income)

132

89

207

279

121

193

196

24

534

 - Apparent tax rate %

14.8%

17.3%

28.4%

20.7%

29.4%

34.5%

45.8%

6.9%

30.6%

Profit/(Loss) for the period

759

428

521

1,069

291

367

232

321

1,211

Minority interest

27

13

18

39

12

15

11

13

51

Net income/(loss) for the period

732

414

502

1,030

279

351

221

308

1,160

EBITDA

1,136

770

895

1,496

438

481

445

356

1,720

Interest income from overdue sales and impairment of tangible assets

22

21

19.8

27

(6)

(7)

(8)

(10)

  (32)

Foreign exchange gain from trade receivables and payables (net)

 

 

 

 

(4)

(5)

(26)

7

(28)

Depreciation

200

207

218

197

47

46

47

48

188

EBITDA Margin

21.6%

17.6%

23.2%

29.2%

30.8%

33.8%

32.2%

26.0%

30.7%

Number of shares (in millions)

3,500

3,500

3,500

3,500

3,500

3,500

3,500

3,500

3,500

Basic earnings per common share (*)

0.21

0.12

0.14

0.29

0.08

0.10

0.06

0.09

0.33

(*) In computing earnings per share, such “bonus share” distributions are assessed as issued shares. Accordingly, the weighted-average number of shares are computed by taking into consideration of the retrospective effects of the share distributions.

Related link: Official Document

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