Turkey’s Kocaer Celik reported a 19pct YoY increase in net profit in the first half of 2026, supported by an improved product mix and higher margins despite a decline in sales revenue.
The company’s net profit attributable to shareholders rose to TRY 610.5 mln (USD 12.8 mln) in Jan-Jun 2026 from TRY 513.8 mln (USD 10.8 mln) a year earlier. Revenue declined 17pct YoY to TRY 11.58 bln (USD 243.3 mln) from TRY 13.89 bln (USD 291.9 mln). Adjusted EBITDA stood at TRY 1.76 bln (USD 37 mln), down 11pct YoY.
Kocaer Celik’s total sales volume remained broadly stable at 315,841 tons in the first half of 2026, up 0.5pct YoY from 314,155 tons. Structural steel profile sales increased 21.8pct to 95,799 tons, while value-added profile sales rose 4.3pct to 153,874 tons. Sales of U and C profiles declined 38.1pct to 27,288 tons, while I and H profile sales fell 11.5pct to 38,880 tons. The share of value-added products in the company’s overall portfolio reached 48.7pct in H1 2026.
The company said sales to the US, which had been interrupted following higher steel import tariffs introduced last year, resumed during the second quarter. Overseas sales, including export-registered sales, accounted for 68pct of net revenue in the first half.
Kocaer Celik also confirmed its expansion plans in Aliaga, Izmir, including a 1 mln ton per year steelmaking plant and a 500,000 ton per year fourth rolling facility. The investments form part of its 2030 growth strategy and are intended to expand production of higher-margin, value-added steel products. The company is also conducting feasibility studies for production facilities or service centres in other countries.
Commenting on the results, Kocaer Celik Chairman Hakan Kocaer said the company delivered a strong second-quarter performance despite geopolitical risks, increasing trade barriers and continued cost pressures in the global steel industry.
Kocaer also highlighted the US as a strategic market with long-term growth potential. He said the company has resumed sales to the US following disruptions caused by tariffs and plans to establish a US-based operation to strengthen customer relationships, expand direct sales channels and respond more quickly to market opportunities.
For the remainder of 2026, Kocaer said the company will focus on balancing volume growth with profitability and capital discipline, while increasing geographical diversification through value-added products and continuing to evaluate organic and inorganic growth opportunities.
Kocaer Celik currently operates three steel profile plants in Aliaga with combined annual capacity of 800,000 tons, along with a 100,000-ton-per-year galvanizing plant and a 180,000-ton-per-year steel service centre. Its products are supplied to sectors including renewable energy, transportation, mining, shipbuilding and machinery, with the company reaching around 140 countries across six continents.
1 USD / 47.59 TRY