Major Turkish steel pipe producer Borusan Birleşik Boru Fabrikaları Ticaret A.Ş. has announced its financial results for the first nine months of this year.
In the given period, the company achieved a net profit of TRY 1.53 billion ($37.95 million), compared to a net profit of TRY 311.38 million in the same period last year, while its sales revenues rose by 19.2 percent year on year to TRY 51.25 billion ($1.32 billion), mainly due to the positive pricing conditions in the US, Borusan’s biggest export market, which accounted for 72 percent of its total sales.
In the January-September period this year, Borusan’s total sales volume came to 968,100 mt, increasing by 6.7 percent compared to the first nine months of 2024, while its exports accounted for 84.0 percent of total sales revenues.
Borusan stated in its operational report that, even though profit margins improved thanks to strict cost management, the inflationary conditions in Turkey continued to apply downward pressure on demand and pricing. “The mixed outlook in the global economy and the steel pipe sector persisted. In the first half of the year, demand was brought forward due to the US’ uncertain tariff policies, while the depreciation of the US dollar temporarily supported capital inflows to developing countries and provided some relief in borrowing costs. However, in the remainder of the year, structural weaknesses such as vulnerabilities in trade chains are expected to become more evident,” Borusan said.
The company has revised its forecast for its total sales volume to 1.20-1.34 million mt for the full year of 2025, up from the previous forecast of 1.05-1.20 million mt. Borusan also expects to record $1.7-1.9 billion in sales revenue in 2025, compared to the previous estimates at $1.6-1.8 billion.