Turkish steel producer Kocaer Çelik Sanayi ve Ticaret A.Ş. (Kocaer Çelik) has announced its financial and operational results for the first nine months of 2026, reporting higher net profit and an improved adjusted EBITDA margin despite lower sales revenues.
Net profit rises by 50 percent as EBITDA margin improves
In January-September, Kocaer Çelik's net profit amounted to TRY 865.28 million, up by 50 percent year on year. The company's operating profit decreased by 21 percent year on year to TRY 1.80 billion, while its net sales revenues fell by 11 percent to TRY 19.84 billion.
In the same period, the company's adjusted EBITDA increased by three percent year on year to TRY 2.91 billion. Its adjusted EBITDA margin rose to 14.7 percent from 12.7 percent in the corresponding period of the previous year. Meanwhile, net financing expenses decreased by 32 percent to TRY 1.38 billion.
Overseas markets account for 72 percent of revenues
In the given period, Kocaer Çelik's total sales volume decreased by approximately one percent year on year to 498,036 mt. Overseas sales, including export-registered sales, accounted for 72 percent of net sales revenues.
Domestic sales revenues increased by 69 percent year on year to TRY 6.11 billion, while international sales revenues fell by 28 percent to TRY 13.30 billion. The company stated that sales to the US resumed in the second quarter of 2026 after being interrupted following the increase in steel import tariffs in June 2025.
Kocaer Çelik noted that the global steel industry continued to face weak demand, supply pressure, increasing protectionism and geopolitical risks. Against this background, the company adjusted its sales structure and product mix to respond to changing market conditions.
Value-added products reach 47 percent of sales volume
Sales of value-added steel sections increased by six percent year on year to 234,220 mt in January-September, raising their share of total sales volume by three percentage points to 47 percent.
Kocaer Çelik stated that its focus on value-added production supported its operating profitability. Renovation investments completed at its A2 plant in 2023 and A1 plant in 2024 contributed to the expansion of this product portfolio. Within its 2030 growth vision, the company plans to establish a steelmaking facility with an annual capacity of 1 million mt and a fourth steel section plant with an annual capacity of 500,000 mt in Aliağa. Feasibility studies are also continuing for production facilities or service centers in other countries.
