Petkim Petrokimya Holding Anonim Sirketi · BIST:PETKM
Petkim Petrokimya Holding Anonim Sirketi — Petkim Petrokimya Holding A.Ş. — Q3 2025 Earnings Presentation
32 slides from Petkim Petrokimya Holding Anonim Sirketi's earnings presentation, November 2025
Slide 1: 3Q25 Results Investor Presentation
3Q25 RESULTS INVESTOR PRESENTATION NOVEMBER 2025
Slide 2: Welcome to Our Earnings Presentation
Welcome to Our Earnings Presentation Page 03-04 3Q25 FINANCIAL HIGHLIGHTS Page 05-10 INDUSTRY ENVIRONMENT Page 11-20 OPERATING & FINANCIALS RESULTS At the 25th Industrial Energy Page 21-23 Efficiency Project Competition STAR REFINERY organized by the Ministry of Earnings Presentation 3Q25 Energy and
Slide 3: Financial Highlights
Sales FINANCIAL HIGHLIGHTS ₺22.2 BN 4% QoQ EBITDA Net Income ₺0.08 BN 0,4% Margin (114%) QoQ (₺1.2) BN -0,48 TL/Share 95% QoQ Earnings Presentation 3Q25 Cash Net Debt ₺9.4 BN 0,6x Current Ratio 38% QoQ ₺40.9 BN 2% QoQ 3
Slide 4: 3Q25 Highlights
3Q25 Highlights 01 Perfomance was better than in the previous period, but still below the cycle average Petkim’s gross unit margin was USD80/ton and the CUR was 63% Petkim continues to strengthen its cost-cutting initiatives in the 02 face of TL overvaluation and high inflation Optimization of fixed
Slide 5: Industry Environment
INDUSTRY Earnings Presentation 3Q25 ENVIRONMENT Global Petrochemical Market Petrochemical Market in Türkiye 5
Slide 6: Monthly ethylene-naphtha spread and Platts index
Monthly ethylene - naphtha spread (CIF MED spot prices) USD/ton Industry Environment 352 331 305 308 328 312 257 238 226 210 208 210 Ethylene-naphtha spread increased 198 200 183 132 151 144 120 112 118 by about %2 from USD272/ton in 2Q25 to USD277/ton in 3Q25 Jan Feb Mar Apr May Jun Jul Aug Sep Oct
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 600 Geo-political tensions Rationalization in petrochemical industry 500 400 Margins at polymer unit stagnated close to floor over the last three years as integrate
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 Jul-24 Sep-24 Nov-24 Jan-25 Mar-25 May-25 Jul-25 Sep-25 -200 Jul-24 Sep-24 Nov-24 Jan-25 Mar-25 May-25 Jul-25 Sep-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 The European benzene market in Q3 2025 displayed a volatile trend, beginning with strength before weakening under 340 320 significant downward pressure 206 The spread narrowed sharply
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 2.289 2.377 2.291 2.362 2.000 1.500 Surplus (k tons) 1.000 Türkiye domestic demand is primarily met by imports 500 203 247 220 228 231 0 Arom 3Q24 4Q24 1
Slide 11: Operating & Financial Results
OPERATING & FINANCIAL RESULTS Earnings Presentation 3Q25 11
Slide 12: Capacity Utilization & Gross Production
Capacity Utilization Capacity utilization rates (%) Thermoplastics Fiber Aromatics Ethylene Other & Gross Production 81% 95% 70% 75% 74% 85% 66% 75% 99% 97% 65% 78% 88% 100% 87% 55% 89% 87% 78% 45% 79% 84% 35% 50% 18% 18% 18% 18% 25% 9% 15% 5% 14% 12% Non-economical plants are 0% 11% 14% 8% -5% 3Q24
Slide 13: Petrochemical Product Sales
Petrochemical Product Sales Breakdown of petchem sales (USD mn) Thermoplastics Fiber Aromatics Other Trade Breakdown by percentage in 3Q25 158 138 160 127 104 30% 79 36% 74 118 106 113 Total petchem sales Earnings Presentation 3Q25 91 $536mn 85 63 78 60 5 18 11 12 8 214 2% 194 186 184 192 21% 11% 3Q
Slide 14: Breakdown of Sales
Breakdown of Sales Sales volume (k tons) Total volume: Revenue breakdown (%) 191 84 82 Other 538k tons 25 38 34 37 22 15 3% 9 Export 44% PVC LDPE HDPE PP ACN Benzene C4 P-X Others Trade Total revenue: Revenue (TRY mn) 4.464 4.493 6.661 Domestic 1.744 53% ₺22,230mn 1.186 1.026 877 764 573 440 2 Expor
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 700 642 612 3% 584 11% 600 579 583 571 558 551 525 522 32% 509 503 512 506 515 25% 500 6% 2 1 6% 7% 7% 400 1 7% -1 8% -1 -2 -2 -2 300
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 1.500 250 1.461 2.400 1.480 800 1.300 1.422 1.380 1.328 1.325 1.256 200 1.249 1.247 750 1.100 1.251 1.192 1.189 1.210 1.197 2.000 1.152 700 900 150 650 1.600 700 110 724 600 94 722 764 703 6
Slide 17: 3Q25 Income Statement
PETKIM 3Q25 TRY mn Q2’25* Q3’25 QoQ Δ (%) Income Sales 21,393 22,230 4% Cost of sales (21,869) (22,148) 1% Statement Gross profit (476) 82 (117%) Gross profit % (2%) 0% - Marketing and sales expenses (414) (420) 1% General administrative expenses (1,306) (1,219) (7%) Operating profit (2,196) (1,557)
Slide 18: EBITDA turned positive despite negative pricing delta
EBITDA turned positive despite the negative pricing delta (114%) 239 82 233 144 160 (602) 248 156 (425) (72) Earnings Presentation 3Q25 Q2'25 Price Raw Material Volume and OpEx FX Inventory Utilities Other Q3'25 Efficiency Pricing delta (₺497mn) 18
Slide 19: 9M25 Balance Sheet
TRY mn 6M’25* 9M’25 QoQ Δ (%) PETKIM 9M25 Cash and cash equivalents 6,816 9,420 38% Balance Sheet Trade receivable 12,524 13,191 5% Inventory 10,391 9,022 (13%) Other receivables 1,039 45 (96%) Other current assets 5,352 3,287 (39%) Current assets 36,123 34,966 (3%) Non current assets 115,399 116,66
Slide 20: Liquidity Highlights
Liquidity Highlights Maturity profile (USD mn) 11% USD TRY EUR Long term Short term 5% USD227 453 mn 404 29 229 4 53 84% 2025 2026 2027 2028 Cash flow from operations and investment activities (USD mn)* Net debt position (USD mn) CFI CFO 158 60 250 Earnings Presentation 3Q25 1.400 112 40 1.200 150 3
Slide 21: STAR Refinery
STAR REFINERY Earnings Presentation 3Q25 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 Q3 2025 Figures Capacity utilization Crude processed (per year) 122% 13mn tons Refinery operations performed well in the third quarter. Strong refining margins, supported by favorable market dynamics and effective operational management, Product sales
Slide 24: Sustainability & ESG
SUSTAINABILITY & ESG Earnings Presentation 3Q25 24
Slide 25: Sustainability Strategy: Two Pillars - 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 ๏ Implement energy efficiency, ๏ Develop internal carbon pricing ๏ Achieve long term decarbonization 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 Governance World Finance Petkim became the first company in the 2024 petrochemical industry to be included ESG Rating: 75/100 in the BIST Sustainability 25 Index in 202
Slide 27: Supporting Slides
SLIDES SUPPORTING Earnings Presentation 3Q25 27
Slide 28: Petkim / SOCAR Türkiye new 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 180 450 160 400 140 350 120 300 100 250 80 200 60 150 40 100 20 50 Earnings Presentation 3Q25 0 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 J
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 3Q25 Scan QR Code to See more 32
Petkim Petrokimya Holding A.Ş. — Q3 2025 Earnings Presentation on 6ix