Petkim Petrokimya Holding Anonim Sirketi · BIST:PETKM

Petkim Petrokimya Holding Anonim Sirketi — Petkim Petrokimya Holding A.Ş. — Q4 2020 Earnings Presentation

19 slides from Petkim Petrokimya Holding Anonim Sirketi's earnings presentation, 2021

  1. Slide 1: 4Q20 Results Investor Presentation

    4Q20 Results Investor Presentation Herkese Açık / Public 1

  2. Slide 2: Ethylene – Naphtha spread averaged US$ 408/ton in 4Q20

    Ethylene – Naphtha spread averaged US$ 408/ton in 4Q20 • Ethylene-naphtha spread increased by 27% from US$ 321/ton in 3Q20 to US$ 408/ton in 4Q20. • In the last quarter, naphtha-based petrochemical producers enjoyed a relatively steady feedstock cost burden, with average naphtha prices closely track

  3. Slide 3: PLATTs Index averaged US$ 796 per ton in 4Q20

    PLATTs Index averaged US$ 796 per ton in 4Q20 • Platts Index averaged at USD796/ton in 4Q20, suggesting 14% increase M-M and 1% increase Y-Y. • Thermoplastics prices have continued its increases in the last quarter in 2020. Demand was firm, but trading is hampered by the tightness in supply, increas

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

    Product group spreads (Over naphtha CIF MED), USD/MT Polymers group spread Fibres group spread 1200 ACN PP 1000 LDPE 1200 PVC 800 HDPE Weighted 800 Weighted 600 DEG 400 400 MEG PTA 200 0 May-20 Nov-20 Mar-20 Apr-20 Jun-20 Aug-20 Sep-20 Jul-20 Dec-20 Feb-21 Feb-20 Jan-21 Jan-20 Oct-20 May-20 Jun-20 S

  5. Slide 5: Product groups and overall weighted spread (over naphtha CIF MED), USD/MT

    Product groups and overall weighted spread (over naphtha CIF MED), USD/MT Weighted averages by product groups spreads Polymers 1000 800 Fiber 600 400 Others 200 Aromatics 0 Source: Platts, Company Herkese Açık / Public 5

  6. Slide 6: Feedstock vs. Product Prices

    Feedstock vs. Product Prices Petkim - Thermoplastics & Naphtha Spread 1,327 • Petrochemicals market strengthened into towards a 1,181 1,040 1,043 1,072 1,116 more balanced position into quarter four. 1,015 974 1,010 927 903 849 USD/ton • Technical issues in production and bottlenecks in global 507 4

  7. Slide 7: Costs and Operational Efficiency in 4Q20

    Costs and Operational Efficiency in 4Q20 Plant Cost Base Breakdown 4Q20 Ethylene Facility Capacity Utilization Rate 8% 105% 106% 105% 102% 98% 7% 99% 98% 92% Raw material Energy 11% Labor Other 74% 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 Total Production & Energy Consumption Sellable Production (Ton

  8. Slide 8: In 4Q20 Petkim achieved TL 4,088mn sales via 671k ton volume

    In 4Q20 Petkim achieved TL 4,088mn sales via 671k ton volume Sales Volume (ton k) Total Volume: 671k ton Revenue (TL mn) Total Revenue: TL 4,088mn 206 1,220 129 710 638 76 56 405 39 43 338 36 24 201 211 145 21 20 18 0 4 89 82 34 1 12 Export Revenue (TL mn) Total Export : TL 1,287mn 595 211 201 145 6

  9. Slide 9: Turkish Market – Thermoplastics

    Turkish Market – Thermoplastics Ton k PVC LDPE 18% 15% 19% 16% 51% 51% 54% 53% 156 170 185 72 75 68 71 69 79 67 78 140 33 26 40 36 2020Q1 2020Q2 2020Q3 2020Q4 2020Q1 2020Q2 2020Q3 2020Q4 HDPE PP 12% 13% 13% 15% 7% 7% 7% 9% 547 509 489 489 169 182 173 166 23 27 26 30 36 35 38 51 2020Q1 2020Q2 2020Q3

  10. Slide 10: Turkish Market – Fiber Raws

    Turkish Market – Fiber Raws Ton k ACN MEG 15% 19% 17% 10% 36% 41% 5% 0% 139 49 51 114 91 83 33 30 19 21 15 18 23 15 3 0 2020Q1 2020Q2 2020Q3 2020Q4 2020Q1 2020Q2 2020Q3 2020Q4 PTA 15% 10% 10% 10% 266 213 220 172 29 25 23 31 2020Q1 2020Q2 2020Q3 2020Q4 Source: TURKSTAT, Company Turkey’s Import Domest

  11. Slide 11: Turkish Market – Others

    Turkish Market – Others Ton k P-X PA 49% 25% 31% 46% 63% 53% 47% 65% 41 31 13 12 24 25 20 10 10 11 6 8 13 10 11 4 2020Q1 2020Q2 2020Q3 2020Q4 2020Q1 2020Q2 2020Q3 2020Q4 Source: TURKSTAT, Company Turkey’s Import Domestic Consumption Petkim/Domestic Sale Domestic Market Share Herkese Açık / Public 11

  12. Slide 12: PETKIM 4Q20 Income Statement

    PETKIM 4Q20 Income Statement TL mn 12M'19 12M'20 Sales 11,672 12,134 Cost of sales (10,071) (10,251) Gross Profit 1,601 1,883 Gross profit % 13.7% 15.5% Marketing and sales expenses (96) (123) General admin. Expenses (285) (344) R&D Expenses (25) (29) Operating profit 1,195 1,387 Other income / (exp

  13. Slide 13: PETKIM 4Q20 Balance Sheet

    PETKIM 4Q20 Balance Sheet TL mn 12M19 12M20 Cash and cash equivalents 4,037 5,502 Trade receivables 1,552 1,717 Inventory 929 958 Other receviables 13 4 Other current assets 3,015 3,678 Current assets 9,547 11,860 Non current assets 7,155 8,124 Total Assets 16,702 19,983 Short term borrowings 4,037

  14. Slide 14: Financial Performance

    Financial Performance Revenue (mn TL) EBITDA, Net Income and EBITDA Margin (mn TL) 900 25% 19% 800 18% 1,287 700 17% 784 20% 600 1,022 625 1,044 50 0 15% 685 400 516 2,767 412 1,988 300 7% 10% 1,710 1,528 200 311 100 205 145 5% Q120 Q220 Q320 Q420 - -10 (100) Q120 Q220 Q320 Q420 0% Domestic Sales Ex

  15. Slide 15: Balance Sheet Analysis

    Balance Sheet Analysis Deposits - by currency Outstanding Outstanding Loan T y pe Loan T y pe Currency principial principial (Original currency ) (USD) Inv estment Credit EUR 27 33 TRY Inv estment Credit USD 67 67 16% Long-term loan Project Finance Loan USD 1 87 1 87 EUR 4% Eurobond USD 500 500 T ot

  16. Slide 16: 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

  17. Slide 17: 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,

  18. Slide 18: Appendix 2. PETKIM Stock Performance

    Appendix 2. PETKIM Stock Performance Th Unit 180 1,400,000 1,200,000 160 1,000,000 140 800,000 120 600,000 100 400,000 80 200,000 60 0 01/01/20 01/04/20 01/07/20 01/10/20 01/01/21 Volume PETKM TI Equity XU100 Index Closing Price as of 31 Dec 2020 (TRY/Share) 4,98TL Market Cap (TRY mn) TL 12,621 Free

  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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