Petkim Petrokimya Holding Anonim Sirketi · BIST:PETKM
Petkim Petrokimya Holding Anonim Sirketi — Petkim Petrokimya Holding A.Ş. — Q2 2025 Earnings Presentation
32 slides from Petkim Petrokimya Holding Anonim Sirketi's earnings presentation, August 2025
Slide 1: 2Q25 Results Investor Presentation
2Q25 RESULTS INVESTOR PRESENTATION AUGUST 2025
Slide 2: Earnings Presentation 2Q25 Agenda
Welcome to Our Earnings Presentation Page 03-04 2Q25 FINANCIAL HIGHLIGHTS Page 05-10 INDUSTRY ENVIRONMENT Page 11-20 OPERATING & FINANCIALS RESULTS According to the “Top 500 Page 21-23 Industrial Enterprises of Türkiye” STAR REFINERY list determined by the Istanbul Earnings Presentation 2Q25 Chamber
Slide 3: 2Q25 Financial Highlights
Sales FINANCIAL HIGHLIGHTS ₺19.9 BN 6% QoQ EBITDA Net Income (₺0.6) BN (3%) Margin (34%) QoQ (₺0.6) BN -0,23 TL/Share (79%) QoQ Earnings Presentation 2Q25 Cash Net Debt ₺6.3 BN 0,6x Current Ratio 65% QoQ ₺39.9 BN (14%) QoQ 3
Slide 4: 2Q25 Highlights
2Q25 Highlights 01 Petkim recorded high revenue driven by increased sales and trading volumes TRY19.9bn revenue was recorded While numerous petrochemical plants in Europe faced closures, 02 Petkim continued to optimize its production 60% CUR was achieved in 2Q25 The persistent overvaluation of the T
Slide 5: Industry Environment
INDUSTRY Earnings Presentation 2Q25 ENVIRONMENT Global Petrochemical Market Petrochemical Market in Türkiye 5
Slide 6: Industry Environment: Ethylene-Naphtha Spread and Platts Index
Monthly ethylene - naphtha spread (CIF MED spot prices) USD/ton Industry Environment 352 331 328 312 257 238 226 210 208 Ethylene-naphtha spread decrased 198 200 183 132 151 144 120 112 118 by about %1 from USD274/ton in 1Q25 to USD272/ton in 2Q25 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 5-Ye
Slide 7: Key Trends in the Industry
Industry Environment Key trends in the industry Product groups spread (over naphtha CIF MED) USD/MT Weak demand and oversupply persists Rising geo-political tensions 600 Turbulent tariff schedules 500 Temporary increase in product group spreads due to lower naphtha prices in April and May largely fo
Slide 8: Product Groups Spread
Industry Product groups spread Environment (over naphtha CIF MED), USD/MT Polymers Fibers 700 HDPE LDPE PP PVC MEG ACN PTA DEG 800 550 600 400 400 250 200 0 100 Apr-24 Jun-24 Aug-24 Oct-24 Dec-24 Feb-25 Apr-25 Jun-25 -200 Apr-24 Jun-24 Aug-24 Oct-24 Dec-24 Feb-25 Apr-25 Jun-25 Earnings Presentation
Slide 9: Benzene / Paraxylene - Naphtha Spread
Industry Benzene / Paraxylene - Naphtha spread Environment (over naphtha NWE), USD/MT Benzene-naphtha spread 394 397 340 320 The European benzene market in Q2 2025 remained significantly oversupplied, weighed down by weak derivative demand as major styrene, phenolics, and MDI units were 206 offline
Slide 10: Türkiye's Petrochemical Sector Overview
Türkiye’s Petrochemical Petrochemical consumption in Türkiye (k tons) Sector Overview Domestic consumption Petkim domestic sales 3.000 2.507 2.500 2.336 2.289 2.377 2.291 2.000 1.500 Surplus (k tons) 1.000 Türkiye domestic demand is primarily met by imports 500 248 203 247 220 228 0 Arom 2Q24 3Q24 4
Slide 11: Operating & Financial Results
OPERATING & FINANCIAL RESULTS Earnings Presentation 2Q25 11
Slide 12: Capacity Utilization & Gross Production
Capacity Utilization Capacity utilization rates (%) Thermoplastics Fiber Aromatics Ethylene Other & Gross Production 76% 81% 95% 75% 85% 70% 66% 75% 102% 99% 97% 65% 78% 87% 100% 55% 89% 84% 79% 45% 78% 91% 35% 18% 18% 18% 50% 25% 9% 9% 15% 23% 5% 14% Non-economical plants are 0% 11% 14% 8% -5% 2Q24
Slide 13: Petrochemical Product Sales
Petrochemical Product Sales Breakdown of petchem sales (USD mn) Thermoplastics Fiber Aromatics Other Trade Breakdown by percentage in 2Q25 201 154 27% 123 134 101 36% 95 Total petchem sales Earnings Presentation 2Q25 77 72 103 115 88 26 89 82 61 76 $499mn 5 18 12 7 21% 1% 220 208 189 180 179 15% 2Q2
Slide 14: Breakdown of Sales
Breakdown of Sales Sales volume (k tons) Total volume: 144 Revenue breakdown (%) 106 70 42 527k tons 35 38 33 22 25 5 6 Export PVC LDPE HDPE PP ACN Benzene Pygas C4 P-X Others Trade 43% Total revenue: Revenue (TRY mn) 3.629 4.360 4.704 Domestic 57% 1.578 ₺19,836mn 1.134 1.013 1.404 782 296 816 120 E
Slide 15: Breakdown of Total COGS
Breakdown of Total COGS COGS breakdown (%) Inventory gain/loss* (USD mn) Other Trade Depreciation Labour costs Energy Raw materials Inventory gain/loss Naphtha prices 700 642 609 612 3% 596 595 584 11% 600 579 583 571 558 551 22% 525 509 503 512 25% 6% 500 7% 2 6% 2 1 8% 1 7% 400 -1 8% -1 -2 -2 -2 3
Slide 16: Feedstock vs. Product Prices of Petkim
Feedstock vs. Product Prices of PETKIM Thermoplastics and naphtha spread Petchem unit margins USD/ton USD/ton 1.500 400 1.503 1.428 2.400 800 1.300 350 1.348 1.359 1.376 1.323 1.284 1.236 1.233 1.220 1.214 1.211 750 1.100 300 1.215 1.158 1.155 2.000 232 700 900 250 650 1.600 700 200 600 1.200 739 72
Slide 17: Income Statement
PETKIM 2Q25 TRY mn Q1’25* Q2’25 QoQ Δ (%) Income Sales 18,732 19,899 6% Cost of sales (19,780) (20,342) 3% Statement Gross profit (1,048) (443) (58%) Gross profit % (6%) (2%) - Marketing and sales expenses (363) (385) 6% General administrative expenses (940) (1,215) 29% Operating profit (2,350) (2,0
Slide 18: EBITDA Bridge and Segment Results
EBITDA’s negative mainly due to negative pricing delta and inventory Q225 62 152 segments’ (560) results (774) (TRY mn) Petchem Trading Port EBITDA 2Q25 (34%) Quarterly Earnings Presentation 2Q25 change in EBITDA 177 309 (560) (TRY mn) (853) 191 (94) 269 (3) (556) Q1'25 Price Raw Material Volume and
Slide 19: Petkim 6M25 Balance Sheet
TRY mn 3M’25* 6M’25 QoQ Δ (%) PETKIM 6M25 Cash and cash equivalents 3,852 6,341 65% Balance Sheet Trade receivable 10,316 11,650 13% Inventory 9,659 9,666 0% Other receivables 16 966 5778% Other current assets 6,722 4,979 (26%) Current assets 30,565 33,601 10% Non current assets 111,390 107,344 (4%)
Slide 20: Liquidity Highlights
Liquidity Highlights Maturity profile (USD mn) USD TRY EUR Long term Short term 15% USD160 433 mn 27% 58% 408 94 68 129 4 2025 2026 2027 2028 Cash flow from operations and investment activities (USD mn) Net debt position (USD mn) CFI CFO 154 109 60 Earnings Presentation 2Q25 150 1.400 1,0x 22 -1,0x
Slide 21: STAR Refinery
STAR REFINERY Earnings Presentation 2Q25 21
Slide 22: STAR Refinery
STAR Refinery 13mn tons $6.7bn One of the most digitalized refinery REFINING CAPACITY TOTAL INVESTMENT VALUE in the world ~16% 28-36 API TÜRKİYE MARKET SHARE PROCESSING RANGE Production Capacity Diesel STAR Refinery is Türkiye’s first (mn tons) Naphtha privately constructed refinery Jet Fuel ~88% Re
Slide 23: STAR Refinery Operating and Financial Highlights
STAR Refinery Operating and Financial Highlights Q2 2025 Figures Capacity utilization Crude processed (per year) 123% 13mn tons Despite strong gross profit performance of STAR Refinery, the negative impact of foreign exchange rates on deferred tax assets led to a contraction at the net Product sales
Slide 24: Sustainability & ESG
SUSTAINABILITY & ESG Earnings Presentation 2Q25 24
Slide 25: Sustainability Strategy: Climate/CO2 Targets
Our Sustainability Strategy Will be Built on Two Pillars - Climate/CO2 Targets Short-term2 Mid-term Long-term 2021-2025 2025-2030 2030 onwards Decarbonization ๏ Develop internal carbon pricing ๏ Achieve long term decarbonization ๏ Implement energy efficiency, approach for future investments to targe
Slide 26: Petkim's Sustainability Indices and ESG Agencies
Petkim’s Sustainability Indices and ESG Agencies Petkim upgraded its rating from B ESG Rating: BB to BB by one notch Best Corporate Petkim became the first company in the Governance World Finance petrochemical industry to be included 2024 ESG Rating: 72/100 in the BIST Sustainability 25 Index in 202
Slide 27: Supporting Slides
SLIDES SUPPORTING Earnings Presentation 2Q25 27
Slide 28: Petkim / SOCAR Türkiye Investment Plans
Petkim / SOCAR Türkiye plans to invest in Ethylene, PP and HDPE/LLDPE plants due to strong growth potential and high demand Timeline According to the results of the Feasibility and Technical Feasibility Study conducted by KBR, 2025 2026 Petkim aims to build a new Ethylene Plant (1.2 MTA), PP Plant (
Slide 29: Petrochemical Complex Flow Chart
Petrochemical Complex Flow Chart Petkim has fully integrated operations LDPE (350,000 ton/year) Bag, greenhouse covers, film, cable, toys, pipes, bottles, hose, packaging HDPE (96,000 ton/year) Construction and water pipes, packaging film, toys, bottles, soft drink crates, barrels Ethylene MEG (89,0
Slide 30: Petkim Stock Performance
PETKIM Stock Performance Unit mn Petkim Volume PETKM TI Equity XU100 Index 170 300 150 250 130 200 110 150 90 100 70 50 50 Earnings Presentation 2Q25 30 0 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Closi
Slide 31: 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
Slide 32: petkim.com.tr
petkim.com.tr Earnings Presentation 2Q25 Scan QR Code to See more 32
Petkim Petrokimya Holding A.Ş. — Q2 2025 Earnings Presentation on 6ix