Petkim Petrokimya Holding Anonim Sirketi (PETKM) investor relations material

Executive summary

• Achieved strongest quarterly profitability since inflation accounting began, with EBITDA of ₺3.42bn (9% margin), up 690% quarter-over-quarter, and net income of ₺4.1bn, up 1146% quarter-over-quarter.

• Interim consolidated financial statements for the six months ended June 30, 2026, were reviewed and found to present fairly in all material respects according to Turkish Financial Reporting Standards.

• The group operates primarily in the petrochemical sector, with additional activities in port operations, energy, and logistics.

• STAR Refinery integration enhanced feedstock security and operational optimization, contributing USD36mn net income via equity pick-up.

• Trading operations delivered record gross profit of USD18.4mn, leveraging diversified sourcing.

Financial highlights

• Sales reached €36.4bn, up 26% quarter-over-quarter; cash position at ₺6.2bn.

• Revenue for January–June 2026 was TRY 65.3 billion, up from TRY 51.0 billion year-over-year.

• Net profit for the period was TRY 4.4 billion, compared to a net loss of TRY 4.4 billion in the same period last year.

• Gross profit margin improved to 9% from 0% in the previous quarter.

• Net debt stood at ₺48.0bn, up 4% quarter-over-quarter; current ratio at 0.6x.

Outlook and guidance

• FY2026 guidance: Petkim spread ~USD402 average, EBITDA ~USD100mn, production volume ~2.6mn tons, CAPEX ~USD100mn, sales volume ~2.1mn tons.

• Capacity utilization expected between 60%-65%; Brent oil price assumption ~USD80/bbl for H2 2026.

• Management is implementing a Master Plan for new production units and modernization, with feasibility and pre-FEED phases completed and FEED phase planned for 2026.

• A Memorandum of Understanding was signed with Technip Energies Italy S.p.A. for technology licensing and FEED services.