Turkish pipe producer Borusan Pipe reported stronger financial results in the first half of 2026, supported by higher project deliveries, improved operational efficiency and disciplined cost management.
Sales volume increased 3.1pct YoY to 602,800 tons, while revenue rose 26.1pct to USD 976.9 mln. Net profit jumped 166pct YoY to USD 39.8 mln, compared with USD 14.9 mln in H1 2025. EBITDA increased 68.9pct to USD 90.3 mln, lifting the EBITDA margin to 9.2pct from 6.9pct.
The Infrastructure & Projects segment was the main growth driver, with revenue surging 93pct YoY to USD 520 mln, supported by higher delivery volumes and contributions from new business agreements. The segment accounted for 53pct of total revenue, with deliveries expected to accelerate in the second half.
Revenue from the Energy segment increased 2pct YoY to USD 198 mln, while Industry & Construction revenue declined 26pct to USD 157 mln amid weak demand in European and Turkish markets and intense competition. Automotive revenue rose 2pct to USD 102 mln.
Borusan Pipe said its backlog in Infrastructure & Projects extends through 2028, providing stronger revenue visibility. The company also continues to consolidate its Halkali and Bursa operations at the Gemlik campus, with the transition progressing as planned without interruption to production or deliveries.
The company raised its 2026 revenue guidance to USD 2.2-2.4 bln, from USD 2.1-2.3 bln previously, and increased its EBITDA margin guidance to 9-11pct from 8-10pct. Its sales volume guidance remains unchanged at 1.15-1.25 mln tons.
Borusan Boru is a major steel pipe producer with total global production capacity of around 2 mln tons per year. The company operates 11 production facilities and service centers across North America, Europe, and Asia.
Its operations in Turkey have annual production capacity of around 800,000 tons, including ERW and precision tube facilities in Gemlik and Istanbul serving the industrial, construction, energy, and automotive sectors. In Europe, Borusan Boru operates precision tube and automotive component facilities in Italy and Romania with capacity exceeding 30,000 tons per year. Its operations in the United States have combined annual capacity of around 950,000 tons, including ERW, LSAW, and HSAW pipe mills in Texas, Florida, and Alabama.