Borusan Birlešik Boru Fabrikaları San. and Tick. HOW. (Borusan Boru) announced its financial results for the first quarter of 2026. The company's sales for the period were recorded at 279,600 tons, up eight percent from last year.
Borusan Boru's sales revenue rose 32.1 percent year-on-year to $421.6 million in the quarter, despite weak demand in Turkey and Europe and competitive pressure on prices. The share of sales revenue generated in global markets in the company's total revenue has risen to 88 percent, while the US market continues to be the dominant revenue market with a 76 percent share. The share of sales in Turkey was 12 percent, and the share of other regions was also recorded at 12 percent. The company's sales for the period were recorded at 279,600 tons, up eight percent year-on-year.
In the first quarter, Borusan Boru's gross profit increased 67.2 percent year-on-year to $27.8 million, and its EBITDA rose 50.9 percent year-on-year to $26.6 million. The company's EBITDA margin rose 0.8 percentage points to 6.3 percent over the same period. Borusan Boru reported pre-tax profit of US$8 million and net income of US$6.3 million for the period. During the same period last year, the company posted a pre-tax loss of $6.9 million and a net loss of $7.9 million.
The company's Infrastructure and Projects segment recorded sales growth of 148.2% year over year due to the low base effect, despite the project schedule not being concentrated in the first quarter. Segment sales revenue increased 144.3 percent year over year to $192.8 million, accounting for the largest contribution to consolidated revenue with a 46 percent share. Borusan Boru said the project schedule is expected to increase in the second quarter.
In the industrial and construction segment, sales revenue was $77.5 million, down 25.8 percent year-on-year due to weak demand trends in Turkey and Europe and intense competition. While automotive segment revenues increased 1.7 percent year-on-year to US$51 million thanks to an effective pricing strategy despite weak European demand, energy segment sales revenues rose 17.1 percent year-on-year to US$100 million.
It was stated that the transformation process aimed at consolidating businesses Halkali and Bursa in a single campus in Gemlik as part of the activities
