Petkim announces third quarter results

Despite the ongoing unfavorable conditions in the global petrochemical industry, Petkim maintained its strong balance sheet and improved its performance thanks to the measures taken by the management.

Petkim, one of the group companies of SOCAR Türkiye, Türkiye's largest integrated industrial group, announced its third quarter financial results. Petkim achieved net sales revenues of TL 13.2 billion in the third quarter and net profit of TL 2.3 billion for the third quarter.

Although the global contraction in the petrochemical industry continued in the third quarter, Petkim significantly increased its performance compared to the previous quarter thanks to the management's cost-cutting and productivity-enhancing initiatives. Increasing its net profit by 961 percent compared to the second quarter, Petkim also increased its net sales by 24 percent.

On the other hand, in this period, Petkim was included in the BIST Sustainability 25 Index, which includes leading companies with high sustainability performance traded on the Borsa Istanbul, thanks to the steps taken within the scope of sustainability.