Kardemir Karabük Demir Çelik Sanayi Ve Ticaret (KRDMD) Q2 2025 earnings summary

Executive summary

• Interim consolidated financials for the six months ended 30 June 2025 were reviewed and found compliant with Turkish Accounting Standards 34, with no material misstatements identified by the independent auditor.

• The group operates in iron and steel manufacturing, with subsidiaries in steel construction, casting, energy, and logistics, and maintains a workforce of 4,454 as of 30 June 2025.

Financial highlights

• Revenue for the six months ended 30 June 2025 was TL 29.9 billion, down from TL 32.8 billion year-over-year.

• Net loss for the period was TL 254.2 million, compared to a net loss of TL 2.47 billion in the same period last year.

• Gross profit was TL 1.56 billion, up from TL 798 million year-over-year.

• EBITDA and EBIT not explicitly stated, but operating loss was TL 400.8 million, compared to a loss of TL 342.4 million year-over-year.

• Total assets as of 30 June 2025 were TL 93.6 billion, with equity of TL 59.3 billion.

Outlook and guidance

• No explicit forward-looking guidance provided, but deferred tax assets were recognized based on management's expectation of future taxable profits.