Petkim Increases Sales in First Nine Months

Petkim Increases Sales in First Nine Months ANKARA (AA)- Petkim, a subsidiary of SOCAR Türkiye, reported net profit of TRY 3,909 million in the first nine months of the year. According to a written statement from the company, despite adverse conditions in petrochemical markets, Petkim increased its sales and reduced its debt during the period in question. Petkim's total sales in this period reached TRY 19,165 million. The company's nine-month net profit amounted to TRY 3,909 million. Petkim had achieved net profit of TRY 446 million in the same period of the previous year. Petkim's equity increased by 50% compared to the end of 2020, while total debt decreased by USD 261 million during the period. During a period when demand for petrochemical products increased alongside supply constraints, Petkim maintained uninterrupted production through STAR Refinery integration. In this period where product diversity and continuous production were reflected in total sales, capacity utilization rose from 89.5% to 92.2%. In comments included in the statement, SOCAR Türkiye Refinery and Petrochemicals Business Unit Head and Petkim General Manager Anar Mammadov stated that Petkim maintains uninterrupted production thanks to its product diversity and integrated production facilities, saying, "In addition to production sales, we also managed to increase our commercial sales during this period. In this challenging process, alongside the strong performance we achieved as a company, we also generated significant financial value for our country's economy through corporate income tax realized at TRY 821 million."