October 2026
Largest Metals & Mining Public Companies in Turkey
Benchmark revenue and EBITDA valuation multiples for public comps like
Erdemir, İsdemir, Koza Altin, Kardemir and Kardemir.
 | Eregli Demir Ve Celik Fabrikalari TAS is a Turkey-based company engaged in production of flat steel, long steel and other steel products. The company also provides engineering and project management services, as well as port services. As well, the company owns an iron ore mining arm. The company's steel products include hot-rolled product, cold-rolled product, galvanized products, metal packaging steel, billet, wire-rod, etc. These products are used in the automotive sector, manufacturing industry, projected works, consumer products, packaging industries and others. Most of the company's revenue comes from the Turkish domestic market. | $1 | +14% | $5B | $6B | 1.4x | 14.4x | ||
| Iskenderun Demir ve Celik AS is engaged in the production and sale of iron products, flat and long steel products, and their by-products. The company's main products are billet, slab, coil, plate, and wire rod and by-products are coke, benzol, ammonium sulfate, and slag. | $1 | +32% | $3.5B | $3.5B | 1.4x | 13.4x | ||
| Turk Altin Isletmeleri AS , formerly Koza Altin Izletmeleri AS is a Turkey-based gold production company. The company has exploration licenses throughout Turkey the Aegean and Marmara regions, the Black Sea region, and Central and Eastern Anatolia. Its operating mines include an underground mine at Ovacik, a mine in Cukuralan that utilizes both underground and open pit mining methods, and an open pit mine at Kaymaz. The company also has feasibility stage projects located near Agri in northeast Turkey and projects in the middle of Turkey. | $1 | +38% | $2.8B | $2.4B | 6.9x | 25.1x | ||
| Kardemir Celik Sanayi AS manufactures equal angles, flat bars, square bars, NPU and NPI profiles, T-bars, and round bars in various dimensions and in accordance with international standards. Its products are Billet Iron, Film Rod, and Reinforcement Steel. | $1 | -- | $1.1B | $1.4B | 2.9x | 48.3x | ||
| Kardemir is an integrated Turkish iron and steel producer headquartered in Karabük. The company began production in 1937 as the country’s first integrated iron and steel works and later became a publicly traded corporation. Its facilities convert raw materials into billets, blooms, rebar, wire rod, profiles, rails, railway wheels and other long steel products. Kardemir supplies construction, manufacturing, mining, transportation and rail-infrastructure customers, including strategically important domestic projects. Its shares are divided into listed classes with different governance rights on Borsa İstanbul. Türkiye Wealth Fund purchased a block of privileged Class A shares in 2022, giving the fund 20% of that class and 4.4% of total capital without converting Kardemir into a private company. | $1 | +24% | $1B | $1B | 0.8x | 9.3x | ||
| TR Anadolu Metal Madencilik Isletmeleri AS, formerly Koza Anadolu Metal Madencilik Isletmeleri AS operates in the mining sector in Turkey. The firm engages in the development and exploration of copper, lead-zinc, iron and similar mineral mining reserves. It holds interests in the Balikesir-Sagirlar Project, Ciftehan-Esendemir Project, Ciftehan-Elmali Project, Konak Project, Diyarbakir-Cungus Project, and Batman-Sason Project. | $3 | +40% | $1B | $1.1B | 3.1x | 12.2x | ||
| CVK Maden Isletmeleri Sanayi ve Ticaret AS is a mining company engaged in the production of lump and concentrate chromium ore, as well as lead, zinc, copper, and silver concentrates from its mining licences. It exports a prominent portion of its production and conducts exploration and survey activities within its mining licence areas. | $0 | -47% | $976M | $1.1B | 15.9x | 47.6x | ||
| TR Dogal Enerji Kaynaklari Arastirma Ve Uretim AS, formerly Ipek Dogal Enerji Kaynaklari Arastirma ve Uretim AS is engaged in the gold mining. It operates seven mines in five regions. The company generates the majority of its revenue from the sale of gold bullion, followed by other revenue and the sale of silver bullion. | $2 | +18% | $490M | $889M | 2.5x | 10.8x | ||
| Kocaer Celik Sanayi ve Ticaret AS manufactures steel products. The company manufactures and sells a wide range of steel products, including merchant bars, universal beams, channels, mining and tunneling steel profiles, and specialized steel profiles for sectors like solar energy infrastructure, energy transmission lines, structural steel, transportation, mining, tunneling, shipbuilding, agriculture, machinery manufacturing, and defense. | $0 | -33% | $422M | $472M | 1.0x | 8.9x | ||
| BMS Birlesik Metal Sanayi ve Ticaret Anonim Sirketi is engaged in the manufacturing, sale, import,and export of all types of reinforcing steel, profile steel, and wire. Its products include cold-drawn wire and rod wire, Flat wire, Hot-dip galvanized wire, Annealed wire, and ZN/AL coated wire. | $1 | +9% | $243M | $252M | 5.0x | 120.9x | ||
| Politeknik Metal Sanayi ve Ticaret AS is engaged in the manufacturing of aluminum surface treatment chemicals. The company's products include Anodising chemicals, Powder Coating Pre-Processing, and Anodising Plant Equipment. | $60 | -71% | $224M | $223M | 12.5x | 2225.9x | ||
| Izmir Demir Celik Sanayi AS is a steel producer based in Turkey. The company produces steel products which include iron blocks, iron rods, and iron beams for various application and sells it to the Turkish and international markets. The production is carried out at the Foca plant in Aliaga. The firm also engages in making investments in power plant and maritime business, owning three ships totally through its subsidiaries. | $0 | -10% | $205M | $902M | 0.7x | 11.9x | ||
| Ekinciler Demir Ve Celik Sanayi AS is a Turkish integrated iron and steel producer company. It focuses on the import and domestic trade of raw materials, auxiliary materials and operating supplies necessary for the plants to be established, and the production of bars, rods, billets and other iron by-products, including reinforcing steel, from hot-rolled iron or steel. Its areas of activity include Iron and steel, Port, Ready-mix concrete and construction, Energy, Oxygen facilities, Logistics, and Insurance. | $1 | -- | $192M | $199M | 0.5x | 14.4x | ||
| ODAS Elektrik Uretim Sanayi Ticaret AS is a Turkey-based company which operates in the fields of energy and mining. The company engages in electricity production, retail sale of electricity and sale of natural gas, and mine manufacturing and sale based on a vertically integrated business model. | $0 | -- | $172M | $620M | 3.4x | 8.0x | ||
| Koc Metalurji AS is a company whose main activity is the production of metal billets, ribbed reinforced concrete, and rebar. The company produces metal billets from scrap in its facilities in Toprakkale/Osmaniye and ribbed reinforced concrete bars from metal billets in its facilities in Payas/Hatay. | $0 | -- | $135M | $141M | 0.3x | (8.1x) | ||
| Visne Madencilik Uretim Sanayi Ve Ticaret AS is engaged in the production of limestone, gravel, oven stone, lump lime, slaked lime, and substances and materials containing lime or mixed with lime, and soil industry products. The company is also engaged in the establishment, renting, leasing, and operation of all kinds of mining and lime production facilities. | $1 | -72% | $105M | $99M | ||||
| Ozyasar Tel ve Galvanizleme Sanayi AS is a Company through its subsidiaries engaged in the production, purchase and sale of materials such as cold drawn wire, spring wire, acsr wire, patented wire, welded panel fence, galvanized wire, rope, monotron, PVC coated wire, armor wire, flat wire, annealed wire, oiled bale wire, rod wire, helical wire as a whole. | $0 | -- | $100M | $100M | ||||
| Cemtas Celik Makina Sanayi Ve Ticaret AS is a Turkey-based company involved in providing steel and related products. It serves the automotive and machinery industries in the field of quality steel and provides service to vehicle manufacturers as a producer of stabilizer bars. | $0 | -- | $80M | $81M | ||||
| Ayes Akdeniz Yapi Elemanlari Sanayi ve Ticaret AS is steel mesh manufacturer. Its products include coil iron, fence mesh, wire mesh bending. | $0 | -- | $78M | $93M | ||||
| Erciyas Celik Boru Sanayi is engaged in manufacturing all kinds of iron and steel products, longitudinally welded and spirally welded pipes, all kinds of pipe internal/external bitumen, epoxy concrete, PE coating, paint, and insulation. | $1 | -- | $57M | $221M | ||||
| Cemas Dokum Sanayi AS is a Turkey-based company engages in the production of grey cast iron, nodular cast iron, and high chromium steel casting. | $0 | -- | $50M | $64M | ||||
| Erbosan Erciyas Boru Sanayii ve Ticaret AS is a Turkey-based company engaged mainly in the business of manufacturing pipes. The product portfolio of the company includes Black Pipes, Galvanized Pipes, Hollow Sections, Gas and Line Pipes, Industrial Tubes and Sprinkler Pipes. | $2 | -- | $49M | $54M | ||||
| Park Elektrik Uretim Madencilik Sanayi ve Ticaret AS is a mining company. It generates revenue from the sale of coal and royalty contracts. | $0 | -- | $46M | $46M | ||||
| Burcelik Bursa Celik Dokum Sanayi AS is engaged in the steel foundry and machines manufacturing operations. Its products category include casting, crushing, screening, machining and welding. The company exports its products to West Europe, Balkan Countries, North Africa, the Middle East, and Turkish Republics in Asia. | $1 | -- | $43M | $43M | ||||
| Tureks Turunc Madencilik Ic ve Dis Ticaret AS is natural stone supplier company in Turkey. Its products include Turkish marble, travertine, limestone and onyx. | $0 | -- | $42M | $61M | ||||
| Tugcelik Aluminyum ve Metal Mamulleri Sanayi ve Ticaret AS is engaged in the manufacturing of aluminum and zamak die-casting parts. It offers automotive, home appliances, telecommunication, farm implements, and mechanical industries products. | $0 | -- | $30M | $83M | ||||
| Ruzy Madencilik Ve Enerji Yatirimlari Sanayi Ve Ticaret AS is engaged in open pit coal mine processing and enrichment activities energy source for the electricity producers of the country. Its products are Lignite Coal, Washed Dry Powdered Coal, Washed Powdered Coal, Washed Hazelnut Coal, and Washed Walnut Charcoal. | $0 | -- | $27M | $18M | ||||
| Yukselen Celik is a steel distributor in Turkey. The company provides steel materials for Automotive, Machinery, Mould, Defense, and Manufacturing sectors. Its products include round steel, flat and square steel, steel sheets and plates, pipe and forging. | $0 | -- | $21M | $30M | ||||
| Bms Celik Hasir Sanayi Ve Ticaret AS is engaged in steel mesh and cold-drawn rods production. Its products includes Standard and Special Steel Mesh, Cold Drawn Rods and Coils, and other Commercial Products. Its export countries are the USA, Greece, TRNC, Libya, Iraq, Nigeria, North Yemen, Germany, Russia, Jamaica, Syria, Albania, Israel, Croatia and Africa. | $0 | -- | $19M | $32M | ||||
| Median | $0 | +12% | $135M | $199M | 1.5x | 11.9x |
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