Petkim closes of the first quarter with a profit despite global adversities

Achieving a net profit of TRY 1.8 billion in the first quarter of the year, Petkim continued its production with no interruptions despite global impacts.

Petkim, a company in the SOCAR Türkiye group, Türkiye’s largest international investor, closed off the first quarter of 2022 with a gross profit of TRY 1.7 billion and a net profit of TRY 1.8 billion. Despite, the geopolitical risks it faced on a global scale, Petkim’s successful governance in the first quarter, its productivity-increasing operations, and the uninterrupted raw materials generated by the STAR Refinery were instrumental in starting off the year on a positive note.

With the impact of the currency-protected deposits system, Petkim strengthened its cash position in the first quarter of 2022 and continued its production despite increasing costs. Obtaining sales revenues of TRY 11.4 billion in the first 3 months of the year, the share of Petkim’s commercial sales within total sales reached 33 percent." + " Petkim’s TRY 258 million corporate tax payment accruing in this challenging period was instrumental in creating financial value for the country’s economy.