Turkey’s Petkim’s net profit surges in Q3
The company reported a net profit of 372 million TL ($96 million) for the July-September period, up significantly by 169% on the year. Petkim’s net sales also witnessed a yearly increase of 83% over the same period to reach 1.8 billion TL ($465 million).
During the first nine months of this year, Petkim’s exports surged by 66% to $544 million, surpassing the previous year’s total export volume.
The company’s EBITDA (earnings before interest taxes depreciation and amortization) increased to 424 million TL ($110 million) during the quarter, up by 145% from the same period of the previous year.
The company’s capacity utilization rate was reported at 96%.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Global oil and petchem revenues hit by challenging market environment
- Tightness shapes expectations for Sept PVC pricing in Asia
- PP uptrend falters in Indonesia amid downstream resistance
- Will European PE market sustain uptrend following higher ethylene?
- COVID-19 resurgence weighs on polymer sentiment in Vietnam
- Stats: Turkey’s H1 polymer imports defy pandemic, hit all-time high
- Stats: China’s total PP, PE imports set a new record in H1 2020
- Lackluster demand outweighs tightness in Asian ABS markets
- Will costs drum up support for a 3rd-month-firming in Europe PET market?
- Import PE markets give softening signals in China, SE Asia