Borusan Boru stock: EBITDA margin outlook raised after 9M results
Published on 11/16/2026 at 00:35 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSResults strengthen full-year outlook
- Revenue increased 22.6 percent year on year to USD 1.615 billion in the first nine months.
- EBITDA rose 65.5 percent to USD 168 million, lifting the margin to 10.4 percent.
- The company raised its 2026 EBITDA margin guidance while retaining its revenue and volume targets.
On November 9, SteelOrbis reported that Borusan Pipe delivered higher revenue and profitability in the first nine months of 2026. The report said net profit rose to USD 84 million from USD 38 million a year earlier, while consolidated revenue increased 22.6 percent to USD 1.615 billion.
Profitability outpaces volume
EBITDA climbed 65.5 percent year on year to USD 168 million, and the EBITDA margin widened by 2.7 percentage points to 10.4 percent. Pretax profit reached USD 113 million, compared with USD 44 million in the same period of 2025.
The stronger earnings came despite a 1.1 percent decline in consolidated sales volume to 957,800 metric tons. Infrastructure and project activity remained the largest contributor, accounting for 55 percent of revenue; its revenue increased 62.3 percent to USD 880 million.
Margin outlook moves higher
Following the nine-month performance, Borusan Pipe raised its 2026 EBITDA margin guidance to 10-11 percent from 9-11 percent. The company kept its revenue target of USD 2.2-2.4 billion and its sales-volume forecast of 1.15-1.25 million metric tons.
Management expects infrastructure and project deliveries to continue according to schedule, while demand and pricing conditions for energy pipes and efficiency initiatives are expected to support fourth-quarter performance. For investors, the revised margin range places greater emphasis on mix, project execution and operating efficiency rather than volume growth alone.
Steel pipe and engineering business
Borusan Pipe manufactures welded steel pipes and plastic pipes and also provides engineering services. Its business lines serve energy, construction, automotive and infrastructure markets, with operations focused on domestic and international customers. The company is headquartered in Ata?ehir, Turkey, and its engineering activities include machinery, equipment and investment projects.
Borusan Boru stock at a glance
- Company: Borusan Birlesik Boru Fabrikalari Sanayi ve Ticaret A.S.
- ISIN: TRABRSAN91G8
- Ticker: BRSAN
- Home exchange: Borsa Istanbul
- Sector: Non-Energy Minerals
Turkey's equity-market backdrop can be followed through the BIST 100 market environment.
More news and analyses on Borusan Boru stock are available here.
