Turkish pipe maker Erciyas Çelik Boru Sanayi A.Ş. has announced its financial results for the first nine months of this year.
In the given period, the company registered a net profit of TRY 45.25 million ($1.31 million), compared to a net profit of TRY 22.70 million in the same period of 2023, while its sales revenues declined by 19.0 percent year on year to TRY 5.20 billion ($150.57 million). Moreover, Erciyas recorded an operating profit of TRY 954.69 million ($27.64 million), compared to an operating profit of TRY 911.94 million in the first half of the previous year.
In the first nine months of the year, 54.0 percent of the company’s total pipe sales tonnage consisted of export sales. Since Erciyas mainly shipped pipes with large specifications and weights to foreign markets, the shipment and export costs of the company accounted for as much as 78.0 percent of its total marketing, sales and distribution costs in the first nine months of the year.
In addition, in the January-September period, the company’s gas and piling pipe sales accounted for 62.0 percent of the total sales volume, while water pipe sales accounted for 38.0 percent.