Sales for premium quality pipe at Turkey’s Borusan Mannesmann increased by 19pc to 313,000mt in H1 2021 against the same six-month period in 2020 with 62pc of those volumes exported. Special and spiral pipes account for about 51pc of sales while drilling pipes made up about 20pc of total revenues.
Sales in the automotive segment constituted 25pc of the total new product sales tonnage realized in H1 2021. The company’s sales shipment expenses rose by 109pc to TRY22.8mn in H1 2021 compared to the same period last year.
Borusan’s sales revenue increased by 57.9pc to TRY2.9bn ($367mn) in H1 2021 compared to TRY1.8bn in the same year-ago period. The company reported a gross profit that tripled to TRY396mn in H1 2021 against TRY128mn in the same period in 2020.
Operating profit multiplied over 4.5 times to $275mn in H1 2021 compared to TRY60mn in the same period last year while its pre-tax earnings moved to a profit of TRY160.6mn in H1 compared to a loss of TRY18.2mn in the same year-ago period.
In Turkey, Borusan has an annual production capacity of 1.1mn mt, including 750,00mt longs and 300,000mt spiral welded steel pipes. The company has a Vobarno site with 28,000mt annual capacity, and 300,000mt capacity at its Baytown, Texas BMB pipe site.
($1=TRY8.38)