Turkish steel pipe producer Borusan Pipe reported net profit of $84 million for January–September 2026, up from $38 million a year earlier. Revenue rose 22.6% to $1.615 billion, according to the company’s interim activity report.
Sales volume, however, declined 1.1% to 957,800 mt. Overseas markets accounted for 90% of revenue, compared with 84% in the same period of 2025.
EBITDA increased 65.5% to $168 million, while the EBITDA margin expanded by 2.7 percentage points to 10.4%. Pretax profit reached $113 million, up from $44 million a year earlier. In the third quarter, EBITDA rose 61.6% to $77 million and the margin reached 12.1%.
Infrastructure projects drive revenue growth
Infrastructure and project business remained the company’s largest segment, generating $880 million in revenue, up 62.3% year on year, and accounting for 55% of the total. Sales volume in the segment grew 36.6%. Third-quarter revenue rose 31.8% to $359 million.
Energy segment revenue increased 14.4% to $347 million, with sales volume up 12.4%. The segment contributed 21% of total revenue. In industry and construction, sales volume fell 40.1% and revenue declined 26.6% to $239 million. Automotive revenue rose 2% to $150 million.
The company raised the lower end of its full-year EBITDA margin outlook to 10–11%, from a previous range of 9–11%. Its 2026 sales volume forecast remains 1.15–1.25 million mt, and revenue guidance is unchanged at $2.2–2.4 billion. Borusan Pipe expects infrastructure project deliveries to remain on schedule, favorable demand and pricing for energy pipes to continue, and efficiency measures to support its results.
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