Large Turkish manufacturer of steel pipes Borusan Birleşik Boru Fabrikaları Ticaret A.
Ş. announced financial results for the first nine months of this year.
During the period, the company achieved a net profit of 1.53 billion Turkish liras (US$37.95 million), compared with a net profit of 311.38 million Turkish liras in the same period last year, while sales revenue rose 19.2 percent year-on-year to 51.25 billion Turkish liras (US$1.32 billion), mainly due to positive pricing conditions. in the United States, Borusan's largest export market, accounting for 72 percent of its total sales.
Between January and September this year, Borusan's total sales were 968,100 tons, an increase of 6.7 percent over the first nine months of 2024, while exports accounted for 84.0 percent of total sales revenue.
Borusan said in its operating report that although profitability improved due to strict cost management, inflationary conditions in Turkey continued to put downward pressure on demand and prices. “The mixed outlook for the global economy and the steel pipe sector continued. In the first half of the year, demand was boosted by uncertain US tariff policy, while the depreciation of the US dollar temporarily supported capital flows into 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 apparent,” Borusan said.
The company revised its forecasts. forecast total sales to 1.20-1.34 million tonnes for the full year 2025, up from the previous forecast of 1.05-1.20 million tonnes. Borusan also expects record sales revenue of $1.7 billion to $1.9 billion in 2025, up from previous estimates of $1.6 billion to $1.8 billion.
