In the third quarter of 2026, adverse geopolitical and global macroeconomic factors continued to significantly disrupt the Company’s key export markets.
1. Market trends and sales revenue
Total revenue: Between 01.01 and 30.09.2026, the Company recorded a 42.8% fall in total sales revenue compared with the same period last year.
International markets: Most of the decline came from international markets, where sales fell by 43.2%. This was a direct result of the continued stagnation in China’s construction sector and lower investment activity, which led to a significant reduction in orders from customers in China. The military conflict in the Gulf added further pressure by pushing up energy prices, leading to further delays in financing major infrastructure projects and commercial developments.
Domestic market: Domestic-market sales remained relatively stable, declining by 12.8%.
2. Operating efficiency and production capacity adjustment
Operational and cost optimisation: In response to market pressures, the Company continued measures to optimise its operating structure and adapt costs to current market conditions. As part of these efforts, it continued to streamline operating expenses, primarily by reducing the cost of external services. Production activities were temporarily adjusted to prioritise the use of existing stocks, while the workforce was reduced by about 10%, mainly through the natural expiry of fixed-term employment contracts.
