IDC posts wider loss in Jan-Sep as revenue declines

Turkish steelmaker Izmir Demir Celik (IDC) reported a wider loss for the first nine months of 2026 as lower revenue and weaker operating performance weighed on its results.

The company's consolidated revenue declined 8 pct YoY to TRY 54.93 bln (USD 1.10 bln). IDC recorded an operating loss of TRY 2.30 bln (USD 45.9 mln), compared with an operating profit of TRY 510.2 mln in the same period of 2025.

The company's net loss widened to TRY 2.66 bln (USD 53.2 mln), from TRY 806.5 mln a year earlier. EBITDA also turned negative at TRY 91.9 mln (USD 1.8 mln), compared with positive EBITDA of TRY 2.70 bln in the previous year.

The company’s billet output declined 5 pct YoY to 1.55 mln tons during January-September, while total finished product output edged down 0.3 pct to 1.31 mln tons. Rebar production increased 3 pct to 808,436 tons, while section production declined 8 pct to 211,752 tons.

Finished product sales increased 4 pct YoY to 1.34 mln tons, while semi-finished product sales fell 12 pct to 372,177 tons. Exports rose 21 pct to 530,335 tons, generating USD 312.25 mln in export revenue.

Izmir Demir Celik has an annual steelmaking capacity of 3.13 mln tons, while its rolling mills have a combined capacity of around 1.4 mln tons. Steelmaking capacity utilization declined to 66 pct during the first nine months of 2026, from 70 pct a year earlier.

1 USD / 50 TRY