Borusan Birleşik Boru Fabrikaları San. ve Tic. A.Ş. (Borusan Boru) has announced its financial results for the first quarter of 2026. The company’s sales volume in the given period was recorded at 279,600 mt, up by eight percent year on year.
In the given quarter, Borusan Boru’s sales revenues increased by 32.1 percent year on year to $421.6 million, despite weak demand conditions in Turkey and Europe and the pressure of competition on prices. The share of sales revenues generated from global markets in the company’s total revenues rose to 88 percent, while the US market continued to be decisive in revenues with a 76 percent share. The share of sales in Turkey stood at 12 percent, while the share of other regions was also recorded at 12 percent. The company’s sales volume in the given period was recorded at 279,600 mt, up by eight percent year on year.
In the first quarter, Borusan Boru’s gross profit increased by 67.2 percent year on year to $27.8 million, while its EBITDA rose by 50.9 percent year on year to $26.6 million. The company’s EBITDA margin increased by 0.8 percentage points to 6.3 percent in the same period. Borusan Boru posted a pre-tax profit of $8 million and a net profit of $6.3 million in the given period. In the same period of the previous year, the company had announced a pre-tax loss of $6.9 million and a net loss of $7.9 million.
The company’s Infrastructure and Project segment recorded a 148.2 percent year-on-year increase in sales volume due to the low base effect, despite the fact that the project delivery schedule was not concentrated in the first quarter. The segment’s sales revenues increased by 144.3 percent year on year to $192.8 million, providing the largest contribution to consolidated revenues with a 46 percent share. Borusan Boru stated that the project delivery schedule is expected to intensify as of the second quarter.
In the Industry and Construction segment, sales revenues were recorded at $77.5 million, down by 25.8 percent year on year, due to the weak demand trend in Turkey and Europe and intense competition. While revenues in the Automotive segment increased by 1.7 percent year on year to $51 million with the contribution of an effective pricing strategy despite weak European demand, sales revenues in the Energy segment rose by 17.1 percent year on year to $100 million.
It was stated that the transformation process aimed at consolidating the Halkalı and Bursa facilities under a single campus in Gemlik as part of the company’s Turkey operations is continuing as planned. In parallel with the relocation process, alternatives regarding the Halkalı plant will be evaluated, while no decision has been taken on this issue at present.
Borusan Boru announced that it has received a new order worth approximately $100 million for the 2027 delivery schedule in the Infrastructure and Project segment and that the total value of announced business agreements in this business line has reached $1.9 billion for 2026-2027.
The company did not make any changes to its expectations for 2026. Accordingly, Borusan Boru expects its consolidated sales volume to be in the range of 1.15-1.25 million mt, consolidated sales revenues to be in the range of $2.1-2.3 billion and its EBITDA margin to be in the range of 8-10 percent in 2026.