Eregli Demir ve Celik Fabrikalari T.A.S. Q2 2026 Earnings Recap

Shares declined 6.9% following Erdemir’s earnings as investors reacted negatively to margin compression amid weak global demand and cautious outlook driven by geopolitical and regulatory headwinds.

Key Takeaways

• First half 2026 revenue reached $2.8 billion with EBITDA at $281 million and net profit of $201 million, supported by a one-off deferred tax income related to a 2027 corporate tax cut.
• Crude steel capacity utilization improved to 95%, with sales volume at 4.2 million tonnes in H1, targeting over 8.2 million tonnes for full-year 2026.
• Export volumes accounted for 14% of sales, with the domestic market remaining the primary revenue driver despite import pressures.
• Global steel pricing was pressured by weak demand, geopolitical tensions, and volatile energy costs, limiting pricing recovery and exerting margin pressure.
• The new EU steel import regime and CBAM increased pricing and quota risks for exports, limiting growth visibility in key markets.