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Turkey’s Petkim announces financial results for Q2 2017

by ChemOrbis Editorial Team - content@chemorbis.com
  • 11/08/2017 (14:36)
Turkey’s Petkim Petrokimya Holding AS has announced its financial results for the second quarter and the first half of 2017 in a publication dated August 10 on Turkey’s Public Disclosure Platform (KAP).

According to media reports, the company reported a net profit of 304 million TL ($85.4 million) for the April-June period, up significantly by 33% on the year. Petkim’s net sales witnessed a yearly increase of 56% over the same period to reach 1.836 billion TL ($516 million). The company’s stronger net sales helped push profits higher.

As for the first half of 2017, Petkim’s net profit was reported at 655 million TL ($184 million), up by 74% when compared to the same period of last year. The company’s net sales were 59% higher from last year to be reported at 3.6 billion TL ($1 billion). EBITDA (earnings before interest taxes depreciation and amortization) increased to 906 million TL ($255 million) in the January-June period of 2017, up by 110% from the same period of the previous year.

The company’s capacity utilization rate increased to 96% in the first half of the year.
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