BAKU, Azerbaijan, Nov.12
By Leman Zeynalova – Trend:
Petkim petrochemical complex of Azerbaijan’s state oil company SOCAR in Turkey announced net profit of 311,007,000 Turkish liras in Q3 2020, while its operating income was 476,423,000 liras, Trend reports with reference to the company’s data.
“Its EBITDA stood at 500,123,000 liras. Net sales increased by 3.44 percent compared to the same period of the previous year and amounted to 3,037,869,000 liras. Net profit increased by 35.52 percent compared to last year's data, while gross profit increased 30.1 percent. EBITDA increased by 26.89 percent and real operating income rose by 64.63 percent.
Gross profit margin decreased by 16.77 percent compared to the previous quarter. The gross profit margin increased compared to the same period of the previous year,” reads the report.
Petkim Petrochemical Complex, which is the first and only integrated petrochemical plant of Turkey, is of strategic importance for Turkey’s economy and industry with its 55-year history.
Petkim played a crucial role in supplying of plastic, medical and raw materials for the packaging industry as part of the fight against COVID-19. It uninterruptedly supplied raw materials needed in this difficult period in Turkey. Petkim once again showed that it is the safe supplier of the Turkish industrialist.
In order to turn Petkim into the most digitalized company of Turkey and Azerbaijan, we launched the “digitalization period” in 2018. The digitalization team at Petkim has up to now implemented more than 40 projects and financial implementation was ensured with 20 active projects within the digitalization program. All those projects were implemented with such technologies as machine learning, artificial intelligence, image recognition, robotic process automation.
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