Turkey-based steel pipe producer Borusan Mannesmann Boru has announced its financial results for 2018. In the year in question, Borusan Mannesmann achieved a net profit of TRY 283.2 million ($52.64 million), compared to a net profit of TRY 243.6 million in 2017, while the company’s sales revenues amounted to TRY 4.88 billion ($892.2 million), rising by 72 percent year on year.
In the given year, premium quality product sales of the company increased by 12 percent year on year to 833,000 mt. In the same period, sales of premium quality products in the exports markets increased by 33 percent year on year, enhancing the company’s international presence.
In addition, in 2018 the company’s pipe sales to the automotive industry remained almost unchanged compared to the previous year. Meanwhile, the company’s turnover from value-added spirally-welded pipe sales increased by 22 percent.
In the same year, Borusan Mannesmann’s sales of high value-added drilling pipes increased by six percent year on year, thanks to the ongoing recovery process in the North American market.