Turkish integrated steel producer Erdemir Group reported a sharp increase in profitability during the first half of 2026, supported by higher production, stronger sales and improved operating performance following the normalization of capacity after major investments.
Revenue increased 31.2pct YoY to TRY 124.57 bln (USD 2.61 bln) in January-June 2026 from TRY 94.96 bln a year earlier. Net profit attributable to shareholders jumped to TRY 8.93 bln (USD 187.3 mln) from TRY 1.73 bln, while EBITDA rose 54pct YoY to TRY 12.51 bln (USD 262.3 mln). EBITDA margin improved to 10pct from 8.6pct in the corresponding period last year.
The group’s crude steel production increased 19.5pct YoY to 4.6 mln tons in H1 2026, with 2.8 mln tons produced at Isdemir and 1.8 mln tons at the Eregli plant. Capacity utilization rose to 95pct for crude steel and 97pct for liquid steel, compared with 77pct and 78pct respectively in the first half of 2025.
Flat steel production rose 16.7pct YoY to 3.82 mln tons, while long steel output increased 35.8pct to 497,000 tons. Flat product sales reached 3.75 mln tons, including 3.1 mln tons sold in the domestic market. Long product sales increased to 494,000 tons, of which 489,000 tons were sold domestically. Exports accounted for 14pct of the group’s total sales during the period.
The company noted that Turkey’s crude steel production increased 8.1pct YoY to 19.8 mln tons in the first six months of 2026, while the group maintained its position as the country’s only integrated flat steel producer, accounting for around 23pct of national crude steel output.
Erdemir continued investments across its production facilities during the period, including modernization of blast furnace stoves, hot strip mill upgrades, port expansion projects and power generation facilities. The group recorded USD 225 mln in investment accruals as of June 30, compared with USD 521 mln a year earlier.
Erdemir Group’s main products include hot rolled, cold rolled and coated flat steel products, plate, billet, slab, wire rod, tinplate, iron ore, pellets, magnesite and refractory materials.
1 USD / 47.7 TRY