Turkey’s leading steel pipe producer Borusan Mannesmann has announced its financial and operational results for the first half this year.
The company has reported a net profit of TRY 385.29 million ($25.94 million) for the given period, compared to a net profit of TRY 152.82 million in the first half of 2021. In the given period, Borusan Mannesmann’s sales revenues increased by 195.6 percent year on year to TRY 8.54 billion ($573.37 million).
In the first half this year, the company’s premium quality product sales were up by 7.9 percent year on year to 338,000 mt. In the same period, 66 percent of the company’s premium quality product sales were directed to export markets. The company’s turnover from sales of high value-added pipes which includes special and spiral pipes accounted for 67 percent of the total premium quality product sales turnover, while its turnover from high value-added drilling pipe sales accounted for 32 percent of the total premium quality product sales turnover. In the given period, the company’s turnover from value-added spirally-welded pipe sales amounted to eight percent of the turnover from the total sales of premium quality pipes. Steel pipe sales for the automotive sector in the first half increased by 12 percent year on year. The company’s turnover from pipe sales to the automotive sector in the first six months accounted for 21 percent of the total premium quality product sales turnover.