Oyak Cement's sales rise in Q2 but revenue declines on subdued prices

Turkey's largest cement producer Oyak Cement's sales revenue declined by 2% year over year to Eur247 million ($290 million) in the second quarter of 2025, despite the increase in sales volume, the company said in an investor presentation Aug. 11 seen by S&P Global Energy.

The company's domestic cement sales volume rose 8% year over year in Q2, while its ready-mix concrete (RMC) sales volume soared by 39% in that period, it said without citing the tonnage.

Oyak Cement's EBITDA margin for RMC and aggregate operations stood at 6.2%, whereas the EBITDA margin for cement operations was 35.8% in H1 2025.

The company's net income realized at Lira 3.6 billion and capex at Lira 2.8 billion in the first half.

Oyak Cement operates in three countries and seven regions in Turkey with 24 million mt/year installed cement capacity and 12.6 million mt/year clinker capacity.

According to the latest data from Central Anatolian Exporters' Association, cement production in Turkey totaled 34.6 million mt in the first five months of 2025, up 1% year over year, while total cement and clinker exports reached 9.7 million mt, up 15%.

Domestic cement consumption in Turkey, meanwhile, increased 2% year over year to 28.6 million mt in Jan-May, up 2% year over year, the data showed.