Turkish steel profile producer Kocaer Steel reported lower financial results for the first quarter of 2026, mainly due to weaker export sales and challenging global market conditions. According to the company’s interim activity report, net sales declined by 15pct YoY to TRY 5.06 bln (USD 111.8 mln) in the January-March 2026 period.
The company’s export sales decreased by 32pct YoY to TRY 3.06 bln (USD 67.6 mln), while domestic sales increased by 37pct to TRY 1.86 bln (UDS 41.1 mln).
Total sales volume stood at 144,645 tons, compared to 150,171 tons in the same period last year. Sales volumes included 45,644 tons of structural steel profiles, 67,340 tons of value-added profiles, 12,308 tons of U and C shaped steel profiles, and 19,353 tons of I and H shaped steel profiles.
Kocaer Steel stated that the global steel sector faced pressure during the first quarter due to geopolitical tensions, logistics disruptions, and global trade barriers. The company said it adjusted its sales structure and focused on operational flexibility to maintain continuity in operations.
The company recorded adjusted EBITDA of TRY 715 mln (USD 15.8 mln) in the first quarter, down 16pct YoY, while EBITDA margin stood at 14.1pct, compared to 14.4pct in the same period of 2025. Net profit attributable to the parent company declined by 67pct YoY to TRY 119 mln.
Kocaer Steel continued its focus on higher value-added steel products and renewable energy investments. The company stated that the share of value-added products in its portfolio increased to 46.6pct in the first quarter of 2026, compared to 43pct in 2025.
The company is also continuing renewable energy investments through its subsidiary Kocaer Energy, including a planned 24 MW geothermal power plant project in Aydin. Kocaer Steel aims to meet its electricity demand through renewable energy sources and reduce carbon emissions in line with CBAM requirements.
Kocaer Celik operates three steel profile plants in Aliaga with a combined annual capacity of 800,000 tons, along with a 180,000 tons per year steel service center and a 100,000 tons per year galvanizing facility.
1 USD / 45.2 TRY