Major Turkish steel pipe producer Borusan Birleşik Boru Fabrikaları Ticaret A.Ş. has announced its financial results for the first half of this year.
In the given period, the company achieved a net profit of TRY 597.85 million ($14.95 million), compared to a net profit of TRY 639.57 million in the same period last year, while its sales revenues decreased by 1.6 percent year on year to TRY 29.17 billion ($774.61 million).
In the first half, Borusan’s total sales volume came to 584,600 mt, decreasing by around 5.6 percent compared to the first half of 2024, while its exports accounted for 82 percent of total sales revenues. According to the company, OCTG sales volume increased by 6.8 percent in the first half compared to the same period last year. Revenue in this segment, supported by the favorable pricing environment driven by the tariff uncertainty created by the US government regarding OCTG products, recorded a limited decline of 2.9 percent in the first half to $193.8 million.
Borusan Boru said it expects the positive pricing environment in the US to continue in the third quarter of the year, while in the fourth quarter it is expected to normalize. The company stated that the potential impact of possible changes in tariffs applied to steel product imports on operational profitability will be closely monitored. On the other hand, in Turkish operations, cost increases driven by inflation and exchange rate fluctuations are expected to continue to adversely affect the overall competitiveness of the sector in the coming period.
The company’s expectations are that its sales volume will total 1.05-1.20 million mt in the full year, remaining unchanged from the previous guidance.