Borusan Pipe maintains 2026 outlook after strong nine-month results

Turkey's Borusan Pipe reported higher revenue and earnings in the first nine months of 2026, supported by planned deliveries in its Infrastructure & Projects segment, higher-value product sales and operational efficiency initiatives.

Sales volume declined by 1.1pct YoY to 957,800 tons during January-September, compared with 968,100 tons a year earlier. Despite the lower volumes, revenue increased by 22.6pct YoY to USD 1.615 bln, while EBITDA jumped by 65.5pct to USD 167.7 mln.

The Infrastructure & Projects segment remained the company's largest revenue contributor, accounting for 55pct of total revenue, supported by the acceleration of planned project deliveries. Borusan said its global revenue share increased to 90pct, while the United States accounted for 82pct of total revenue.

Borusan said its Infrastructure & Projects order backlog reached approximately USD 3.6 bln, including around USD 1.76 bln of new business secured during 2026.

Looking ahead, the company expects planned project deliveries, favorable demand and pricing conditions in the energy pipes market and continued efficiency improvements to support results in the final quarter. Borusan maintained its 2026 sales volume guidance at 1.15-1.25 mln tons and revenue guidance at USD 2.2-2.4 bln, while raising its EBITDA margin forecast to 10-11pct from 9-11pct previously.

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.