Petkim Petrokimya Holding Anonim Sirketi · BIST:PETKM

Petkim Petrokimya Holding Anonim Sirketi — Petkim Petrokimya Holding A.Ş. — Q3 2019 Earnings Presentation

19 slides from Petkim Petrokimya Holding Anonim Sirketi's earnings presentation, 2019

  1. Slide 1: 3Q19 Results Investor Presentation

    3Q19 Results Investor Presentation Herkese Açık / Public 1

  2. Slide 2: Ethylene – Naphtha spread averaged US$ 478/ton in 3Q19

    Ethylene – Naphtha spread averaged US$ 478/ton in 3Q19 • Ethylene-naphtha spread decreased by 18% from US$ 582/ton in 2Q19 to US$ 478/ton in 3Q19. • Naphtha prices plunged in August and jumped in September on the back of rising crude oil price due to Saudi feedstock disruption. • On the contrary, pe

  3. Slide 3: PLATTs Index averaged US$ 843 per ton in 3Q19

    PLATTs Index averaged US$ 843 per ton in 3Q19 • PLATTs index decreased to US$843 per ton in 3Q19 from US$877 per ton in 2Q19 . • In 3Q19 PLATTs index was %20 below 2018 average. • In the third quarter petchem product prices increased slightly. • Ethylene and propylene prices fell limited in Europe t

  4. Slide 4: Product group spreads (Over naphtha CIF MED), USD/MT

    Product group spreads (Over naphtha CIF MED), USD/MT Aromatics group spread Polymers group spread Weighted (right) Paraxylene 800 750 600 400 PP OrthoXylene 600 300 600 Overall Overall 400 LDPE 450 HDPE 200 400 Weighted (right) 300 200 PVC Benzene 100 200 150 0 - 0 - Fibres group spread Others group

  5. Slide 5: Product groups and overall weighted spread

    Product groups and overall weighted spread (over naphtha CIF MED), USD/MT 800 500 Overall Fibres 400 600 Polymers 300 Overall 400 Others 200 200 Aromatics 100 0 - Source: Platts, Company Herkese Açık / Public 5

  6. Slide 6: Feedstock vs. Product Prices

    Feedstock vs. Product Prices Petkim - Thermoplastics & Naphtha Spread • 294 Kton feedstock has been supplied from STAR 1,252 1,243 1,188 1,146 1,143 1,201 1,210 1,164 Refinery in the third quarter, so total naphtha purchase 1,127 1,165 1,092 1,057 1,034 as at the end of the third quarter has reached

  7. Slide 7: Costs and Operational Efficiency in 3Q19

    Costs and Operational Efficiency in 3Q19 Plant Cost Base Breakdown 3Q19 Ethylene Facility Capacity Utilization Rate 4.5% 3.1% 8.8% 102% 102% 100% 105% 106% 98% 99% 86% Raw material Energy Labor 38% Other 83.6% 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 Total Production & Energy Consumption Sellabl

  8. Slide 8: In 3Q19 Petkim achieved TL 2,841mn sales via 596k ton volume

    In 3Q19 Petkim achieved TL 2,841mn sales via 596k ton volume Sales Volume (ton k) 3Q19 Volume: 596k ton Revenue (TL mn) 3Q19 Revenue: TL2,841mn 542 106 481 88 79 312 49 216 231 212 41 205 35 37 162 27 30 27 26 26 23 100 111 102 114 47 3 8 Export Revenue (TL mn) 3Q19 Export Revenue: TL1,112mn 216 216

  9. Slide 9: Turkish Market – Thermoplastics, 2015-2019Q3 (mn tons)

    Turkish Market – Thermoplastichs, 2015-2019Q3 (mn tons) PVC LDPE 19% 17% 22% 57% 56% 54% 51% 55% 53% 55% 14% 19% 17% 15% 600 58% 1,000 56% 800 400 54% 600 725 726 310 305 296 641 605 137 252 52% 72 65 73 129 132 400 30 28 37 123 147 145 111 200 234 235 250 246 50% 200 58 57 59 48% 0 2019Q1 2019Q2 20

  10. Slide 10: Turkish Market – Fiber Raws, 2015-2019Q3 (mn tons)

    Turkish Market – Fiber Raws, 2015-2019Q3 (mn tons) ACN MEG 34% 33% 35% 30% 25% 34% 36% 29% 20% 23% 18% 22% 23% 21% 300 36% 400 30% 28% 34% 26% 32% 24% 200 30% 275 22% 98 265 270 187 28% 200 239 20% 165 175 166 88 84 87 26% 98 18% 70 79 84 100 66 58 16% 57 20 25 24% 20 21 14% 17 15 22% 44 39 38 12% 0

  11. Slide 11: Turkish Market – Others, 2015-2019Q3 (Million tons)

    Turkish Market – Others, 2015-2019Q3 (Million tons) P-X PA 300 36% 24% 33% 30% 40% 36% 36% 31% 80 80% 61% 55% 60% 71% 71% 73% 65% 70% 35% 60 60% 200 30% 50% 40 35 35 35 40% 25% 32 38 139 136 19 35 30% 10 10 10 100 66 117 20% 14 107 60 51 26 13 20 20% 44 27 15% 22 23 10% 14 4 4 5 0 10% 0 0% 2015 2016

  12. Slide 12: PETKIM 3Q19 Income Statement

    PETKIM 3Q19 Income Statement TL mn 9M18 9M19 Sales 7,283 8,877 Cost of sales (5,763) (7,607) Gross Profit 1,520 1,270 Gross profit % 21% 14% Marketing and sales expenses (57) (70) General admin. Expenses (202) (212) R&D Expenses (16) (18) Operating profit 1,244 970 Other income / (expenses) 89 51 Fi

  13. Slide 13: PETKIM 3Q19 Balance Sheet

    PETKIM 3Q19 Balance Sheet TL mn 12M18 9M19 Cash and cash equivalents 3,009 3,152 Trade receivables 1,194 1,634 Inventory 1,130 881 Other receviables 5 39 Other current assets 2,656 3,127 Current assets 7,995 8,834 Non current assets 4,593 5,067 Total Assets 12,588 13,902 Short term borrowings 3,019

  14. Slide 14: Financial Performance

    Financial Performance Revenue (mn TL ) EBITDA, Net Income & EBITDA Margin (mn TL) 2,000 30% 1,800 24% 1,600 20% 25% 1,400 18% 20% 1,200 16% 3,797 12% 13% 1,000 15% 2,754 1,791 800 1,389 1,523 10% 1,367 600 4,727 5,759 1,356 1,113 890 836 1,219 400 732 5% 3,207 552 1,566 1,748 1,774 200 338 144 295 3

  15. Slide 15: Diversified business profile through ancillary infrastructure and energy investments

    Diversified business profile through ancillary infrastructure and energy investments Description Benefits to Petkim • Turkey’s first privately constructed Refinery • Lower naphtha procurement costs • Target processing capacity of 10m tons p.a. • Replacement of some of the heavy naphtha feedstock wit

  16. Slide 16: Appendix 1. Petrochemical Complex Flow Chart

    Appendix 1. Petrochemical Complex Flow Chart Petkim has fully integrated operations LDPE Bag, greenhouse covers, film, cable, toys, pipes, (350,000 ton/year) bottles, hose, packaging HDPE Construction and water pipes, packaging film, Ethylene Plant (96,000 ton/year toys, bottles, soft drink crates,

  17. Slide 17: Appendix 2. PETKIM Stock Performance

    Appendix 2. PETKIM Stock Performance PETKIM STOCK PERFORMANCE Th Unit 275,000 250 250,000 230 225,000 210 200,000 190 175,000 170 150,000 125,000 150 100,000 130 75,000 110 50,000 90 25,000 70 0 12/16 03/17 06/17 09/17 12/17 03/18 06/18 09/18 11/18 02/19 05/19 08/19 Volume Petkim BİST 100 Closing Pr

  18. Slide 18: Investor Relations

    Investor Relations We welcome your questions, comments and suggestions. Our corporate headquarters office address is: Petkim Petrochemical Holding Corp. PO. Box.12 Aliağa, 35800 İzmir/ TURKEY To contact us with respect to shareholding relations for individual and corporate investors, please call dir

  19. Slide 19: Disclaimer

    Disclaimer This presentation does not constitute or form part of, and should not be construed as, an offer or invitation to subscribe for, underwrite or otherwise acquire, any securities of Petkim Petrokimya Holding A.Ş. (the “Company”) or any member of its group nor should it or any part of it form

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