Baku, Azerbaijan, Aug. 8
By Leman Zeynalova – Trend:
Net sales of Petkim Petrochemical Complex, owned by Azerbaijan’s state oil company SOCAR in Turkey, have increased by 40 percent in the first half of 2019, as compared to the same period of 2018, Trend reports citing Turkish media.
“The profit of Petkim stood at 439 million Turkish liras in the first half of 2019. Net sales of Petkim have increased by 40 percent in H1 2019, as compared to the same period in 2018. Petkim broke the record of production in the first half of 2019 and its sales reached 5,9 billion Turkish liras,” reads the report.
Reportedly, Petkim reached the full capacity in the second quarter of 2019.
Its Earnings before interest, tax, depreciation and amortization (EBITDA) increased by 26 percent as compared to the same period of 2018 and reached 890 million liras, according to the report.
“We are getting the results of digital transformation at Petkim in 2019,” said Anar Mammadov, General Manager of Petkim. He noted that the volume of crude imported from Star Refinery stood at 260,000 tons in the first six months of 2019.
Petkim produces plastic packaging, fabrics, PVC, detergents, and being the only Turkish manufacturer of such products, the company exports a quarter of its production. The complex includes 14 factories producing 20 different types of products. Petkim's production capacity is 3.6 million tons per year.
Equity participation of shareholders in the complex’s capital is as follows: SOCAR Turkey Petrokimya A.S. - 51 percent, 49 percent of the shares are in free float on the stock exchange.
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