Borusan Marks Its 80th Anniversary with 39% Growth in 2024

For Borusan, 2024 was not just another year—it marked the 80th anniversary of the Group’s founding. Closing the year with a consolidated turnover of ₺257 billion, Borusan achieved a 39% growth rate and announced plans to further expand its value creation through ₺66 billion in investments between 2025 and 2027, reflecting its commitment to sustainable growth.

Playing a pivotal role not only in Turkey’s industrialization and economic development but also in its cultural and social advancement, Borusan Group shared its 2024 financial results and future investment roadmap in celebration of its 80th year. With ₺257 billion in consolidated revenue and a 39% growth rate, Borusan reaffirmed its strong market position and long-term growth strategy.

The Group plans to invest ₺66 billion over the next three years (2025–2027) to further accelerate its growth and expand operational capacity. These investments include ₺26 billion in manufacturing, ₺22 billion in automotive, ₺6 billion each in energy, machinery and power systems, and logistics. This investment plan is both a reflection of Borusan’s confidence in Turkey’s economy and a strategic move to reinforce its future vision.

 

Erkan Kafadar: “We are proud to have completed our 80th anniversary year with strong achievements.”

Commenting on the 2024 financial results, Erkan Kafadar, CEO of Borusan Group, said:

“The year 2024 carried special meaning for us as we celebrated the 80th anniversary of our Group. With the motto ‘We started from zero, reached 80—and we’re just getting started,’ we marked this milestone year with significant growth. This success is a testament to the dedication of all Borusan employees and the trust of our stakeholders. To sustain this momentum and strengthen our position for the future, we plan to make substantial investments over the next three years. Through these efforts, we aim to further enhance our presence across energy, manufacturing, automotive, machinery and power systems, logistics, and corporate venture capital. Our goal is not only to achieve economic growth but also to create long-term value for our country and stakeholders in line with our sustainability principles. Inspired by our 80-year legacy and guided by our vision of becoming a company that endures 200 years and beyond, we look to the future with confidence and determination.”

2024 Investments and Operational Achievements

In its milestone year, Borusan celebrated not only its 80th anniversary but also key anniversaries of several Group companies:

• Borusan Tedarik – 50th year
• Borusan Otomotiv Group and Borusan Port – 40th year
• Borusan Cat – 30th year
• Borusan EnBW Enerji – 15th year Additionally, Borçelik marked the 30th anniversary of its production operations, while BİFO (Borusan Istanbul Philharmonic Orchestra) celebrated its 25th season—each a proud reflection of Borusan’s enduring strength and stability across diverse sectors.

The Group continued to make major investments in 2024:

• Borusan EnBW Enerji increased its capacity by 18%, reaching a total installed power of 855 MW.
• Borusan Boru, enhancing its global competitiveness, completed a $50 million heat-treatment technology investment in the U.S., expanding production capacity to nearly 1 million tons.
• Through Borusan Ventures, the Group’s corporate venture capital arm established in 2023, Borusan closed 2024 with five venture capital fund commitments and five direct startup investments, reinforcing its innovation-driven growth model.

Entering 2025 with a strong and balanced portfolio strategy, Borusan also signed a share purchase agreement to sell 100% of Borusan Tedarik to CEVA Logistics, with the transaction expected to close following approval from the Turkish Competition Authority.

Sustainability Mission and Investment in the Future

Rooted in its long history yet focused on the future, Borusan continues to act on its vision of becoming a company that thrives for 200 years and beyond. In 2024, the Group maintained its commitment to building a sustainable future through initiatives aligned with Turkey’s 2053 net-zero goals.

Borusan strengthened its decarbonization roadmap, increased investments in clean energy and emission reduction projects, improved water management, and advanced waste reduction and recycling through circular economy practices. Across its entire value chain, the Group prioritized occupational health and safety, enhanced employee engagement and well-being, and promoted innovation in circular and low-carbon business models while supporting entrepreneurship and supply chain resilience.

Believing that the business world of the future will be built on partnerships that generate environmental and social value, Borusan remains steadfast in its commitment to sustainability and progress.