Petkim Posts TRY 4.3 Billion Net Profit in First Half of the Year

Petkim closed the first half of the year with net profit of TRY 4.3 billion, a 93% increase compared to the same period last year. SOCAR Turkey's group company Petkim closed the first half of 2022 with net profit of TRY 4.3 billion. Despite scheduled production shutdowns in the first half of the year, the company managed to increase net profit by 93% compared to the same period last year. In the first half of the year, Petkim responded to currency increases by effectively utilizing the Foreign Currency Deposit system, successfully minimizing risks. In a statement issued, it was noted that in order to prevent the decline in product profitability in global markets from affecting the company's overall profitability, effective marketing strategies and a wide product range enabled successful management in both production sales and commercial product sales. Continuing seamless integrated production with STAR Refinery, Petkim met domestic market demands without disruption. The financial gains achieved through the Value Creation Transformation Program, which has been conducted in a disciplined manner since 2017, also contributed to Petkim's success in the first six-month period. Approximately TRY 430 million in added value was created under this program in the first half of the year.