Turkish integrated steelmaker OYAK Mining and Metallurgy Group has announced its financial and operational results for the first nine months of 2026, reporting higher profitability alongside increases in finished steel production, sales volumes and capacity utilization.
Net profit rises to $234.8 million
In the January-September period, the group recorded a net profit of TRY 11.51 billion ($234.8 million), up 357.5 percent from TRY 2.52 billion ($51.3 million) in the corresponding period of 2025, while its sales revenues increased by 32.4 percent year on year to TRY 195.86 billion ($4 billion).
The group's operating profit rose by 60.4 percent to TRY 9.50 billion ($193.8 million), while EBITDA increased by 70.2 percent to TRY 22.35 billion ($455.9 million). Its EBITDA margin improved from 8.9 percent to 11.4 percent, while its net profit margin widened from 1.7 percent to 5.9 percent.
Crude steel output totals 6.9 million mt
During the first nine months, the group produced 6.9 million mt of crude steel, including 2.8 million mt at its Ereğli facilities and 4.1 million mt at its İskenderun facilities. Flat steel production increased by 15.5 percent year on year to 5.71 million mt, while long steel output rose by 24.2 percent to 769,000 mt.
Meanwhile, the group's liquid steel capacity utilization rate increased to 98 percent from 82 percent a year earlier, while its crude steel capacity utilization rate rose from 81 percent to 96 percent.
Domestic market remains the main sales destination
The group's flat steel sales increased by 13.4 percent year on year to 5.64 million mt, including approximately 4.7 million mt sold in the domestic market. Long steel sales rose by 18.2 percent to 741,000 mt, of which 734,000 mt were delivered to domestic customers.
Exports accounted for 14 percent of the group's total sales during the reporting period, with the Turkish market continuing to absorb the majority of its steel shipments.
