Turkish steel pipe producer Borusan Boru has announced that in the first half of 2026 its sales revenue increased by 26.1 percent year on year to $976.9 million, while its sales volume rose by 3.1 percent to 602,800 mt. According to the financial results announcement issued by the company, its EBITDA surged by 68.9 percent to $90.3 million, with its EBITDA margin improving by 2.3 percentage points to 9.2 percent, while its net profit climbed by 166.4 percent to $39.8 million.
Commenting on its performance, Borusan Boru stated that it achieved successful financial results despite changes in global trade policies, geopolitical developments and volatility in commodity markets, mainly due to the timely completion of scheduled project deliveries, improvements in operational efficiency and cost reduction measures. The company added that its effective pricing strategy, the fixing of raw material costs at the beginning of project-based operations, its geographically diversified production network and disciplined cost management enabled it to preserve cost predictability under changing market conditions.
Borusan Boru's infrastructure and project segment remained its largest business line, generating revenue of $520 million, up 93 percent year on year, supported by higher delivery volumes and the revenue contribution of new orders secured in previous periods. The company expects project deliveries to accelerate in the second half, while its order backlog extending through 2028 provides considerable revenue visibility. Revenue from its energy segment increased by two percent to $198 million, supported by balanced demand and pricing conditions in the US, whereas revenue from its industry and construction segment fell by 26 percent to $157 million amid weak demand and intense competition in Europe and Turkey. Automotive segment revenue rose by two percent to $102 million despite similarly challenging market conditions.
The company emphasized that the US remained the principal driver of its growth, supported by its established production infrastructure, long-standing customer relationships and high-value-added product portfolio. Global operations accounted for 89 percent of total revenue, while the US alone contributed approximately 79 percent. Borusan Boru also noted that the consolidation of its Halkalı and Bursa operations at its Gemlik campus progressed as planned without interrupting production or customer deliveries.
Looking ahead, Borusan Boru expects global trade policies, geopolitical developments, commodity prices, European demand, trade defense measures and carbon regulations to continue shaping the market. Nevertheless, the company anticipates stronger demand and improved pricing in the energy pipe segment during the remainder of the year, while efficiency measures implemented at its facilities are expected to make a greater contribution to its financial and operational performance.
Accordingly, Borusan Boru raised its 2026 consolidated revenue guidance from $2.1-2.3 billion to $2.2-2.4 billion and increased its EBITDA margin forecast from 8-10 percent to 9-11 percent. The company maintained its full-year sales volume guidance at 1.15-1.25 million mt.
