Polisan Holding As · BIST:POLHO
Polisan Holding As — 9M2025 Earnings Presentation
21 slides from Polisan Holding As's earnings presentation, November 2025
Slide 1: 9M2025 Financial Results Presentation
9M2025 FINANCIAL RESULTS PRESENTATION November 2025
Slide 2: Disclaimer
This Investor Presentation (“Presentation”) is prepared solely to provide information to the shareholders. and is not intended to form the basis of any investment decisions. The realization of forward-looking opinions and estimated figures in this Presentation may differ depending on the variables a
Slide 3: Innovative and Pioneering Solutions for Our Sectors
POLİSAN HOLDİNG: INNOVATIVE AND PIONEERING SOLUTIONS FOR OUR SECTORS Chemical Activities Port Operations Real Estate Polisan Kimya %100 Poliport %100 • Pendik Land Polisan Yapıkim Yapı • Kağıthane Z Office Kimyasalları %100 (*) • Gebze-Tavşanlı • Aydın Karacasu land Operations Abroad • Others Polisa
Slide 4: 9M2025 Financial Results
9M2025 FINANCIAL RESULTS Summary on Sector and Financial Results 4
Slide 5: Türkiye: CPI & US$/TL
TÜRKİYE: CPI & US$/TL 75 70 72 67 69 65 65 62 61 62 62 59 68 67 58 55 63 64 52 60 52 9A 23 51 49 49 56 47 54 44 44 48 50 50 42 40 38 47 39 38 38 38 pp 35 35 41 34 33 33 33 39 38 36 24 pp 31 14 pp 11 pp 30 26 25 26 24 23 21 22 21 21 22 20 20 20 18 18 18 16 9A 23 2024-02 2025-05 2023-01 2023-02 2023-0
Slide 6: Eurozone & Türkiye: PMI
EUROZONE & TÜRKİYE: PMI Eurozone Manufacturing PMI® Istanbul Chamber of Industry Türkiye Manufacturing PMI 9A 23 50,7 51,5 51,5 51,5 50,0 50,9 49,8 49,8 49,5 49,4 50,2 50,1 50,1 50,0 49,0 49,9 48,8 49,6 48,6 48,5 49,3 49,2 49,0 47,6 48,4 48,4 48,3 47,3 47,3 48,0 47,9 47,8 46,6 46,6 47,3 46,5 47,3 47
Slide 7: Türkiye: Raw Material Prices
TÜRKİYE: RAW MATERIAL PRICES ▪ In 2025, the downward trend observed in key raw material prices continues to put downward pressure on product sales prices as well. 7
Slide 8: 9M2025 Financial Results
POLİSAN HOLDİNG: 9M2025 FINANCIAL RESULTS The quarter marked notable progress in strategic restructuring efforts. ▪ Strategic Steps: ▪ The transfer of the Paint Group to Marmara Holding was completed and registered on Revenues September 10, 2025. 4.66 bn TL ▪ Following the suspension of Polisan Hell
Slide 9: Portfolio Restructuring - Partial Spin Off
POLİSAN HOLDİNG: PORTFOLIO RESTRUCTURING- PARTIAL SPIN OFF ▪ The shares of Polisan Kansai Boya and Rohm & Haas, owned by Polisan Holding, were partially spun off through a share distribution to shareholders model and transferred to a newly established company (“Marmara Holding A.Ş.”), which was list
Slide 10: Shareholding Structure Developments
POLİSAN HOLDİNG: SHAREHOLDING STRUCTURE DEVELOPMENTS On 27.06.2025, a Share Transfer Agreement was signed between members of the Bitlis Family and Corex Ports and Terminals Dilovası Liman İşletmeleri A.Ş. regarding the transfer of shares corresponding to 77.7% of the capital of Polisan Holding A.Ş.
Slide 11: 9M2025 Consolidated Financial Results
POLİSAN HOLDİNG: 9M2025 CONSOLIDATED FINANCIAL RESULTS (*) Consolidated Revenue Breakdown1 Consolidated Revenues (TL mn) Chemicals 30.9% 5,299 9A 23 4,663 Other 10.1% 35.4% 23.7% Port Construction Chem. 9M2024 9M2025 (1) Based on Revenues prior to Eliminations 9A 23 Operational Segments EBITDA (TL m
Slide 12: 9M2025 Consolidated Financial Results
POLİSAN HOLDİNG: 9M2025 CONSOLIDATED FINANCIAL RESULTS Gross Profit: -503 mn TL i) Chemicals segment -241 mn TL ii) Port segment -232 mn TL iii) Other & eliminations -30 mn TL Discontinued Operat. Profit/Loss Profit/(loss) from Polisan Hellas has been -538 investments accounted classified under -563
Slide 13: 9M2025 Consolidated Financial Results
POLİSAN HOLDİNG: 9M2025 CONSOLIDATED FINANCIAL RESULTS 1,029 If the impact of the Paint Group and Polisan Hellas had been excluded: • Paint Group subject to the partial spin-off (impact: –342 million TL) • Loss from Polisan Hellas classified under discontinued operations (impact: –223 million TL) -3
Slide 14: 9M2025 Consolidated Financial Results
POLİSAN HOLDİNG: 9M2025 CONSOLIDATED FINANCIAL RESULTS REVENUES (TL mn) EBITDA (TL mn) & EBITDA Margin (%) NET PROFIT/LOSS (TL mn) INVESTMENT EXPENDITURES (TL mn) Continued Operations Profit/Loss Discontinued Operations Profit/Loss 5,299 23.7% 571 4,663 16.5% 480 1,258 -298 -340 767 -239 -223 -538 -
Slide 15: Consolidated Balance Sheet and FX Position
POLİSAN HOLDİNG: CONSOLIDATED BALANCE SHEET AND FX POSITION Summary Balance Sheet (TL mn) 30.09.2025 31.12.2024 Net Financial Debt (TL mn) 30.09.2025 31.12.2024 Current Assets 3,045 3,311 Cash & Cash Equivalents (-) 94 639 Fixed Assets 15,066 21,092 ST and LT Debt (+) 1,998 2,133 18,111 24,402 ST Fi
Slide 16: Poliport: 9M2025 Financial Results
POLİPORT: 9M2025 FINANCIAL RESULTS REVENUES (TL mn) EBITDA (TL mn) & Margin (%) NET PROFIT/LOSS (TL mn) Revenue 35.4% Share (1) 1,929 52% 44% 1,880 367 Segments: Bulk Liquid. Dry Cargo. 999 307 Warehouse Services 829 + Revenues in US dollars, expenses in Turkish lira + High tank utilization rates +
Slide 17: Polisan Kimya: 9M2025 Financial Results
POLİSAN KİMYA: 9M2025 FINANCIAL RESULTS REVENUES (TL mn) EBITDA (TL mn) & Margin (%) NET PROFIT/LOSS (TL mn) Revenue 30.9% Share (1) 1.882 6% 1.639 1% Segments: Formaldehyde and 114 Resins; Adblue. + New export markets and newly added customers to the portfolio 12 + Keeping operating expenses -216 -
Slide 18: Polisan Yapıkim: 9M2025 Financial Results
POLİSAN YAPIKİM: 9M2025 FINANCIAL RESULTS REVENUES (TL mn) EBITDA (TL mn) & Margin (%) NET PROFIT/LOSS (TL mn) Revenue 21.4% Share (1) 1.654 10% 1% 1.257 Segments: Concrete & Cement 173 Chemical Additives. Underground Chemicals + Strong regional domestic -68 demand driven by post- 14 earthquake reco
Slide 19: Consolidated Summary Income Statement
POLİSAN HOLDİNG: CONSOLIDATED SUMMARY INCOME STATEMENT CONSOLIDATED INCOME STATEMENT SUMMARY TL million 9M2025 9M2024 Sales 4.663 5.299 Gross Profit 1.029 1.532 Operating Expenses 724 732 EBITDA 767 1.258 Other operating income/expense, net -7 -57 Profit/(loss) from investments acc. using the equity
Slide 20: Consolidated Summary Balance Sheet
POLİSAN HOLDİNG: CONSOLIDATED SUMMARY BALANCE SHEET CONSOLIDATED BALANCE SHEET SUMMARY TL Million 30.09.2025 31.12.2024 Current Assets 3.045 3.311 Fixed Assets 15.066 21.092 Total Assets 18.111 24.402 Short Term Liabilities 2.717 3.579 Long Term Liabilities 1.487 1.464 Shareholders' Equit 13.907 19.
Slide 21: Thank You
THANK YOU Email investorrelations@polisanholding.com.tr