OYAK Cement has announced its financial results for the first quarter of 2026. Despite adverse weather conditions in the opening months of the year, a slowdown in the domestic market - particularly in the earthquake-affected region - seasonal effects and rising cost pressures across the industry, OYAK Cement maintained its leading position with a 24% EBITDA margin, reinforcing investor confidence.
The company generated net sales revenue of TRY 10.7 billion in the first quarter of 2026. Despite the decline in volumes in line with the broader industry outlook and the pressure on energy costs created by military and political developments in neighbouring regions, OYAK Cement delivered the industry's highest EBITDA margin at its current scale, reporting EBITDA of TRY 2.6 billion and an EBITDA margin of 24%.
OYAK Cement disclosed its first-quarter 2026 financial results through Türkiye's Public Disclosure Platform (KAP). According to the announced figures, the company recorded total net sales of TRY 10.7 billion in the first quarter. While a more cautious demand environment prevailed across the industry, OYAK Cement maintained balanced operations through its extensive plant network and strong logistics capabilities. Its agile management model and effective expense management enabled the company to preserve its operational profitability amid changing market dynamics.
Through industry-leading initiatives in energy efficiency, alternative fuel utilisation, digitalisation and production optimisation, the company closed the first quarter with EBITDA of TRY 2.6 billion and an EBITDA margin of 24%.
In April, OYAK Cement also commissioned the Ankara Beypazarı Solar Power Plant, Türkiye's largest single-site renewable energy project developed by an industrial producer for self-consumption and an investment unmatched in the cement industry in terms of scale and scope. The project will increase the share of renewable energy in the company's total energy consumption to 25%, providing a positive outlook for the second quarter and the remainder of the year.
"Our disciplined cost-management approach enabled us to outperform the industry"
Eralp Tunçsoy, Vice Chairman of OYAK Cement and CFO of CIMPOR Global, commented on the first-quarter results: "In the first quarter of 2026, rainfall was 33% above seasonal averages and 100% higher than in the same period last year. Combined with weakening demand in the earthquake-affected region and higher energy costs driven by geopolitical developments in neighbouring markets, this placed pressure on profitability across the sector. Even under these conditions, OYAK Cement maintained a 24% margin and continued to deliver the highest margins in the industry, supported by disciplined cost management. While continuing to improve the efficiency of our current operations, we remain focused on our long-term growth and sustainability targets. The 115 MW Beypazarı Solar Power Plant, which reached full-capacity operation in April, is not only a project that optimises our energy costs; it also represents a strategic milestone in our journey towards carbon neutrality. As Türkiye's largest renewable energy project developed by an industrial producer at a single site for self-consumption, the plant will increase the share of renewable energy in our facilities' total energy consumption to 25%. Our strong alternative fuel utilisation rates and renewable energy investments will remain among the key factors differentiating us operationally within the industry. The integrated synergy between TCC and OYAK, together with CIMPOR's global expertise, has provided - and will continue to provide - OYAK Cement with both financial strength and strategic flexibility. In the coming period, we will make every effort to offset the challenges encountered in the first quarter and achieve the year-end targets we set at the beginning of the year."
"We maintained our sustainable growth approach in the first quarter"
Murat Sela, Country CEO of OYAK Cement, commented on the company's first-quarter 2026 performance: "Although a more cautious demand environment prevailed across the industry in the first quarter of 2026, OYAK Cement succeeded in maintaining its operational strength and sustainable growth approach. Through our integrated plant network spanning all seven regions of Türkiye, strong field organisation and production capabilities, we adapted rapidly to changing market conditions and continued our operations without interruption. One of OYAK Cement's most important differentiators today is its integrated business model, which manages efficiency, digitalisation, sustainability and operational optimisation simultaneously. Our work on energy efficiency and alternative fuel utilisation supports our cost management while also making a significant contribution to our environmental goals. The increase in our export volumes during the first quarter was another important indicator of our operational flexibility and ability to reach a broad range of markets. In the coming period, we will continue our investments and transformation projects with confidence in Türkiye's economy, industrial production and sustainable growth."
