Turkish integrated steelmaker OYAK Mining and Metallurgy Group has announced its financial and operational results for the first quarter of 2026.
The company has reported a net profit of TRY 405.79 million ($9.14 million) for the first quarter, compared to a net profit of TRY 447.90 million in the same period last year, while the company’s sales revenues amounted to TRY 59.68 billion ($1.34 billion), up by 11.5 percent year on year. The company’s operating income in the given quarter totaled TRY 2.43 billion ($54.67 million), compared to an operating income of TRY 1.90 billion in the same period of the previous year.
Regarding the operational results, in the given period OYAK Mining and Metallurgy Group produced 2.3 million mt of crude steel, increasing by 21.1 percent year on year, including 900,000 mt of crude steel produced at the Eregli works and 1.4 million mt at the Iskenderun works.
In the first quarter, the flat steel output of OYAK Mining and Metallurgy Group increased by 8.8 percent year on year to 1.85 million mt, while the company’s long steel output amounted to 265,000 mt, rising by 32.5 percent year on year. Additionally, in the given period, the flat steel sales volumes of the company went up by 9.4 percent year on year to 1.89 million mt, while its long steel sales volumes increased by 33.5 percent year on year to 235,000 mt.
A notable improvement was seen in the company’s capacity utilization rates. In the first quarter, OYAK Mining and Metallurgy Group’s liquid steel capacity utilization rate rose to 98 percent from 80 percent in the same period last year, while its crude steel capacity utilization rate increased to 96 percent from 79 percent. The group also stated that it accounted for 23 percent of Turkey’s crude steel output in the first two months of the year.