Turkish pipe producer Borusan Mannesmann Boru Sanayi ve Ticaret A.S. (BMB) has released its operational results for the first half of 2009.
According to the results, in the first half of 2009 BMB registered an operational profit of TRY 10.058 million (US$6.73 million) before taxation, compared to TRY 68.40 million in the corresponding period of 2008. In the period in question, the company's gross profit margin declined to 9.6 percent from 17.9 percent in the corresponding period last year.
On the other hand, in the first six months of this year BMB's revenue from the sales of steel and plastic pipes decreased 31 percent year on year to TRY 385.68 million (US$ 285.4 million).
In the period in question, BMB's steel pipe output totaled 281,000 metric tons, decreasing by 26 percent year on year, while its steel pipe sales declined to 305,000 metric tons, marking a yearly decrease of 23 percent. Steel pipe sales to the domestic market accounted for 55 percent of the company's total steel pipe sales; the rest was exported.
Established in 1958, BMB's annual steel pipe production capacity is 900,000 metric tons, including 700,000 metric tons of longitudinal welded pipes and 200,000 metric tons of spiral welded pipes.