Polisan Holding Continues Its New-Term Investments

Polisan Holding Chief Executive Officer Mehmet Hacıkamiloğlu provided information on the holding's new-period investments, which increased net profit approximately fourfold in the first quarter. He stated that installation work on the new resin factory valued at EUR 5 million is proceeding on schedule and noted that the target is to increase Poliport's capacity in the Kocaeli Gulf Region to 436,000 m³. Polisan Holding announced its first-quarter financial results. According to the disclosure made to the Public Disclosure Platform (KAP); consolidated revenues increased 52% to TRY 355.2 million, EBITDA margin rose 2.8 percentage points to 17.7%, and net profit increased approximately fourfold to TRY 38.8 million. Of Polisan Holding's combined revenues of TRY 751.6 million recorded in the first quarter of the year, operating in the chemicals, port, real estate and paints sectors, 50.0% derived from paints, 40.0% from chemicals activities, 7.6% from ports, and 2.4% from other activities.

Evaluating Polisan Holding's first-quarter financial results, Chief Executive Officer Mehmet Hacıkamiloğlu said, "We view our strong performance as the result of rapidly analyzing changing market trends, taking agile action, and leveraging our strong supply network to our advantage. As Polisan Holding, while prioritizing the health of our people, we continue to carry out our operations uninterrupted and strengthen our human resources at points of need."

[caption id="attachment_124870" align="aligncenter"] Polisan Kimya[/caption]

EUR 5 Million New Investment in Polisan Kimya

Providing information on the holding's new-period planning, Mehmet Hacıkamiloğlu shared information that the new resin factory, for which they laid the foundations on the Polisan Kimya side and valued at approximately EUR 5 million, will have state-of-the-art technological infrastructure supported by universal reactors.

Plan to Increase Poliport Capacity to 436,000 m³

Noting that Poliport, which operates in the Kocaeli Gulf Region, one of Europe's top 10 ports, and is established on an area of approximately 280,000 square meters, plans to increase its capacity to 436,000 m³ as a result of a long-term investment plan, Mehmet Hacıkamiloğlu stated, "At Poliport, we have launched our AION Project through which we will transition to full automation in all our processes and provide our customers with the opportunity to monitor our operations live. At Poliport, we plan to work on expanding our portfolio with high-value-added, end-to-end services."

Strategy for PET Activities in Greece to Become Clear Soon

Making assessments regarding Polisan Hellas, one of the only polyethylene terephthalate (PET) and advanced r-PET granule manufacturers in Greece and the Balkans, Mehmet Hacıkamiloğlu stated the following: "Our PET business in Greece, Polisan Hellas, with a strict financial discipline approach and operational profitability focus, supported by rising raw material prices on a global scale, achieved the highest revenue and profitability, the lowest net debt and working capital on a euro basis, and demonstrated its best first-quarter performance in history." Hacıkamiloğlu added that they will clarify their strategies regarding the company by closely monitoring new regulations in Greece.

'We will maintain our focus on profitable revenue growth in 2021'

Mehmet Hacıkamiloğlu also provided the following information regarding work on the Polisan Kansai Paints side: "In our paints operations, in the pandemic environment where business practices changed radically, we focused on our marketing activities and as a result observed an increase in our sales volumes. Following the 'Smile to Life with Polisan' campaign we designed for dealers and supported on TV and digital channels, the brand awareness of Polisan Kansai Paints increased. Through our Policlubextra loyalty program, we strengthened the loyalty of our paint craftsmen. We also became more effective in our overseas distribution channels and began supplying products to projects. At Polisan Kansai Paints, we will focus on maintaining our high profitability levels by creating synergy with our Dow Chemical and Kansai Paint business partnerships." Polisan Holding Chief Executive Officer Mehmet Hacıkamiloğlu, providing information on export and R&D activities, said; "In our chemicals and paints business, exports will continue to be a potential growth driver. Polisan Kansai Paints, which moved to the new R&D center building, and Polisan Kimya, which increases the share of high-value-added products in its total revenues year after year, continue their work on high-value-added, innovative products for export markets."