Business · Companies · 6 hrs ago
Erdemir’s third-quarter profit beats expectations as revenue rises 35%
Turkish steelmaker Erdemir reported higher third-quarter profit for 2026.
The company, formally known as Ereğli Demir ve Çelik Fabrikaları, is a steel producer in Turkey.
Revenue rose 35% year on year to 71.3 billion lira, slightly above market expectations.
Steel production increased 12% to 2.169 million tonnes, while the company used 96% of its capacity in the first nine months of the year.
Operating profit grew 68% but missed expectations, reaching 7.9 billion lira; profit per tonne reached $100, a level last seen two years earlier.
Net profit climbed 238% to 2.2 billion lira, beating the expected 1.9 billion lira, while net debt rose 28% to 50.5 billion lira and net debt compared with operating profit remained at 1.82 times.
Erdemir reported third-quarter 2026 net profit of 2.2 billion Turkish lira, above the market expectation of 1.9 billion lira.
Revenue rose 35% year on year to 71.3 billion lira, slightly above the 70 billion lira expectation.
Net profit increased 238% year on year.
Third-quarter production rose 12% year on year to 2.169 million tonnes.
Earnings before interest, taxes, depreciation and amortisation rose 68% to 7.9 billion lira, below the 8.2 billion lira expectation.
- Who
- Ereğli Demir ve Çelik Fabrikaları T.A.Ş., known as Erdemir.
- What
- It reported third-quarter 2026 financial results, including net profit above market expectations.
- When
- The third quarter of 2026. The results were published on October 22, 2026.
- Where
- Not stated.
- Why
- Not stated.
This story does not have two clearly opposing sides.
This story does not have a timeline yet.
- Net profit
- 2.2 billion Turkish lira; up 238% year on year
- Revenue
- 71.3 billion Turkish lira; up 35% year on year
- Market expectations
- Net profit: 1.9 billion lira; revenue: 70 billion lira
- Third-quarter production
- 2.169 million tonnes; up 12% year on year
- Net debt
- 50.5 billion Turkish lira; up 28% quarter on quarter