Major Turkish steel pipe producer Borusan Birleşik Boru Fabrikaları Ticaret A.Ş. has announced its financial results for the first quarter this year.
The company has posted a net loss of TRY 284.45 million ($7.86 million) for the given period, compared to a net profit of TRY 366.85 million in the same period last year, while its sales revenues decreased by 29.4 percent year on year to TRY 11.55 billion ($319.07 million).
In the first quarter, Borusan’s total sales volume came to 259,000 mt, decreasing by 27.5 percent compared to the first quarter of 2024, while its exports accounted for 77.0 percent of total sales revenues. Borusan stated on its report that the production costs have increased amid higher inflation in Turkey, putting profitability under pressure.
The company’s sales expectations for the full year of 2025 remains at 1.05-1.20 million mt, as the effect of recent worldwide tariff policies will become clearer in the last of quarter of the year or at the beginning of 2026. Borusan forecasts that the positive pricing policies in the US will persist throughout second and third quarters.