Turkey-based steel pipe producer Borusan Mannesmann Boru has announced its financial results for the first quarter of the current year. In the first quarter, Borusan Mannesmann recorded a net profit of TRY 17.75 million ($4.8 million) compared to a net profit of TRY 17.32 million in the same period of the previous year, while the company’s sales revenues amounted to TRY 551.99 million ($149.54 million), rising by 8.9 percent year on year.
In the given quarter, premium quality product sales of the company amounted to 165,000 mt. In the same period, exports sales accounted for 66 percent of total sales.
In addition, in the given period the company’s standard pipe sales volume was in line with the first three months of the previous year; however, profitability from these products increased significantly. The company’s value-added pipe sales, including pressurized, special and spiral products, accounted for 60 percent of total premium quality product sales, while the turnover from these sales accounted for 70 percent of the total premium quality product sales revenues.