Petkim Petrokimya Holding Anonim Sirketi · BIST:PETKM
Petkim Petrokimya Holding Anonim Sirketi — Petkim Petrokimya Holding A.Ş. — Q3 2026 Earnings Presentation
34 slides from Petkim Petrokimya Holding Anonim Sirketi's earnings presentation, Oct 30, 2026
Slide 1: 3Q26 Results Investor Presentation
3Q26 RESULTS INVESTOR PRESENTATION NOVEMBER 2026
Slide 2: Welcome to Our Earnings Presentation
Welcome to Our Earnings Presentation Page 03-04 3Q26 FINANCIAL HIGHLIGHTS Page 05-11 INDUSTRY ENVIRONMENT Page 12-23 OPERATING & FINANCIALS RESULTS Based on its production-based Page 24-26 sales performance in 2025, STAR REFINERY Petkim ranked 33rd among Earnings Presentation 3Q26 Türkiye's Top 500
Slide 3: 3Q26 Financial Highlights
Sales FINANCIAL HIGHLIGHTS ₺32.0 BN (17%) QoQ EBITDA Net Income ₺633 MN 2% Margin (82%) QoQ (₺817) MN (0,32) TL/Share (119%) QoQ Earnings Presentation 3Q26 Cash Net Debt ₺7.3 BN 0,5x Current Ratio 12% QoQ ₺49.0 BN 2% QoQ 3
Slide 4: 3Q2026 Highlights
3Q2026 Highlights 01 Petkim supported the country’s supply security by prioritizing domestic sales during this period Record sales volumes were achieved for LDPE and PP Value creation continued through STAR Refinery integration 02 Feedstock supply security, operational and optimizing product flows t
Slide 5: Industry Environment
INDUSTRY Earnings Presentation 3Q26 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 619 Environment 577 352 312 331 305 308 257 237 248 198 232 210 210 180 158 181 159 128 Extreme volatility in naphtha prices 227 72 was observed following the outbreak -5 of hostilities in the Middle East Jan Feb Mar Apr May Ju
Slide 7: Key trends in the industry
Industry Environment Key trends in the industry Product groups spread (over naphtha CIF MED) USD/MT Rising feedstock and energy costs Weak demand and persistent oversupply 900 Geopolitical tensions 800 700 Since the conflict in the Middle East began in 600 late February, feedstock and product prices
Slide 8: Product groups spread over naphtha
Industry Product groups spread Environment (over naphtha CIF MED), USD/MT Polymers Fibers 1200 1400 HDPE LDPE PP PVC MEG ACN PTA DEG 1000 1200 1000 800 800 600 600 400 400 200 200 0 0 -200 Jul-25 Sep-25 Nov-25 Jan-26 Mar-26 May-26 Jul-26 Sep-26 -400 Jul-25 Sep-25 Nov-25 Jan-26 Mar-26 May-26 Jul-26 S
Slide 9: Petkim Spread Better Reflects Underlying Margin Dynamics
PETKIM Spread Better Reflects Underlying Margin Dynamics Product groups spread (over naphtha CIF MED) USD/MT Margin proxy Naphtha Ethylene Spread (USD/ton) Petkim Spread (USD/ton) The Petkim spread provides a more representative view of the Q226 547 Company’s margin structure 619 compared to the con
Slide 10: Petkim Spread calculation
PETKIM Spread calculation Enhanced Financial Performance Visibility Weight within Q2 2026 Q3 2026 Product Group Product gross profit* PETKIM spread (USD/ton) A 547 309 Sales quantity from production (k tons) B 428 400 LDPE 19% PETKIM spread calculation (mn USD) A*B 234 124 LDPE-T 21% Polymers Adjust
Slide 11: Türkiye's Petrochemical Sector Overview
Türkiye’s Petrochemical Petrochemical consumption in Türkiye (k tons) Sector Overview Domestic consumption Petkim domestic sales 2.500 2.362 2.304 2.294 2.361 2.000 1.948 1.500 1.000 Surplus (k tons) Türkiye domestic demand is primarily met by imports 500 231 264 276 257 277 0 Arom 3Q25 4Q25 1Q26 2Q
Slide 12: Operating & Financial Results
OPERATING & FINANCIAL RESULTS Earnings Presentation 3Q26 12
Slide 13: Capacity Utilization & Gross Production
Capacity Utilization Capacity utilization rates (%) Thermoplastics Ethylene Other Aromatics Fiber & Gross Production 100% 90% 87% 87% 93% 89% 171% 90% 75% 151% 80% 82% 131% 70% 74% 75% 111% 60% 71% 97% 91% 50% 92% 40% 88% 83% 71% 30% 62% 51% 18% 17% 18% 20% 18% 14% 31% 11% 10% 12% 12% 0% 0% 0% 0% -9
Slide 14: Petrochemical Product Sales
Petrochemical Product Sales Breakdown of petchem sales (USD mn) Thermoplastics Fiber Aromatics Other Trade Breakdown by percentage in 3Q26 241 185 28% 172 177 175 37% Total petchem sales 204 Earnings Presentation 3Q26 151 $654mn 149 124 105 104 76 66 81 87 12 11 4 243 23% 211 211 237 12% 204 3Q25 4Q
Slide 15: Breakdown of Sales
Breakdown of Sales Sales volume (k tons) Total volume: Revenue breakdown (%) 106 116 70 47 42 Other 516k tons 24 25 24 32 Export 8 9 13 1% 38% PVC LDPE HDPE C5 PP Benzene Arom Naphtha C4 PS Propylene P-X Others Trade Total revenue: Revenue (TRY mn) 7.080 Domestic 7.139 5.341 61% ₺32,001mn 358 1.450
Slide 16: Breakdown of Total COGS
Breakdown of Total COGS Inventory gain/loss (w/o IAS 29) COGS breakdown (%) (USD mn) Other Trade Depreciation Labour costs Energy Raw materials Inventory gain/loss Naphtha prices 30,0 900 819 25,0 789 790 800 10% 723 693 33% 20,0 700 687 679 25% 15,0 25 600 5% 506 522 515 500 499 503 6% 10,0 6% 463
Slide 17: Feedstock vs. Product Prices of Petkim
Feedstock vs. Product Prices of PETKIM Thermoplastics and naphtha spread Petchem unit margins USD/ton USD/ton 1.600 400 343 3.000 1.949 1.995 1.400 1.400 350 1.722 300 1.200 1.406 1.200 1.381 2.500 1.281 1.304 204 250 1.332 1.317 1.268 198 1.000 1.000 1.184 1.147 1.191 1.116 1.155 1.142 2.000 200 80
Slide 18: Income Statement
PETKIM 3Q26 TRY mn Q2’26* Q3’26 QoQ Δ (%) Income Sales 38,444 32,001 (17%) Cost of sales (35,148) (31,974) (9%) Statement Gross profit 3,297 27 (99%) Gross profit % 9% 0% - Marketing and sales expenses (590) (543) (8%) General administrative expenses (1,278) (1,287) 1% Operating profit 1,429 (1,803)
Slide 19: EBITDA bridge
EBITDA remained positive despite the significant adverse impact the negative pricing delta (TRY mn) Pricing delta (₺4.546)mn 3.611 874 Earnings Presentation 3Q26 232 633 533 (846) 774 89 (4.635) Q2'26 Price Raw Material Volume and OpEx FX Inventory Other* Q3'26 Efficiency 19 *Main contributors to th
Slide 20: Balance Sheet
TRY mn 6M’26* 9M’26 QoQ Δ (%) PETKIM 9M26 Cash and cash equivalents 6,573 7,340 12% Balance Sheet Trade receivable 18,195 14,607 (20%) Inventory 12,826 9,775 (24%) Other receivables 0 0 143% Other current assets 6,471 4,331 (33%) Current assets 44,064 36,052 (18%) Non current assets 147,478 148,676
Slide 21: Liquidity Highlights
Liquidity Highlights Cash Portfolio (%) Maturity profile (USD mn) 10% USD TRY EUR Long term Short term 11% USD150 660 mn 24 405 54 79% 2026 2027 2028 Cash flow from operations and CAPEX(USD mn) Net debt position (USD mn) CAPEX CFO 53 40 60 Earnings Presentation 3Q26 1.080 34 34 38 35 40 1.060 30 1.0
Slide 22: FY2026 Guidance
FY2026 Guidance PETKIM SPREAD PRODUCTION VOLUME SALES VOLUMES USD320-340/ton ~2.5mn tons ~2.1mn tons Q4 average USD380-400/ton for the full includes approximately 472k supported by domestic year tons of captive consumption, demand and strong primarily ethylene trading capability EBITDA CAPEX ~USD100
Slide 23: Master Plan enters FEED phase
Master Plan has officially entered the FEED phase, with binding FEED services agreements signed Current (2025) and post-Master Plan (2032) capacities in KTA, Market share and import dependency in % ~USD5BN total investment Market Market Import Import Current Master share in share in dependency depen
Slide 24: STAR Refinery
STAR REFINERY Earnings Presentation 3Q26 24
Slide 25: STAR Refinery
STAR Refinery 13mn tons $6.7bn One of the most digitalized refinery REFINING CAPACITY TOTAL INVESTMENT VALUE in the world ~20% 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 Reforma
Slide 26: STAR Refinery Operating and Financial Highlights
STAR Refinery Operating and Financial Highlights Q3 2026 Figures Leveraging production flexibility, some of the jet fuel output was shifted towards diesel during periods of Capacity utilization Quarterly capacity higher diesel margins, optimizing the product mix and enhancing refinery profitability
Slide 27: Sustainability & ESG
SUSTAINABILITY & ESG Earnings Presentation 3Q26 27
Slide 28: Sustainability Strategy: Two Pillars, Climate/CO2 Targets
Our Sustainability Strategy Will be Built on Two Pillars - Climate/CO2 Targets Short-term Mid-term Long-term 2026-2030 2030-2040 2040-2050 ๏ Increase energy efficiency ๏ Develop internal carbon pricing approach for ๏ Achieve long term through optimization projects future investments to effectively i
Slide 29: Petkim's Sustainability Indices and ESG Agencies
Petkim’s Sustainability Indices and ESG Agencies ESG Rating: B Most recently rated in March 2026 Best Corporate Governance World Finance Petkim became the first company in the 2024 petrochemical industry to be included ESG Rating: 3.4/5 in the BIST Sustainability 25 Index in 2023 58/459 Out of Chemi
Slide 30: Supporting Slides
SLIDES SUPPORTING Earnings Presentation 3Q26 30
Slide 31: 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 32: Petkim Stock Performance
PETKIM Stock Performance Unit mn Petkim Volume PETKM TI Equity XU100 Index 400 150 350 300 130 250 110 200 90 150 100 70 50 50 0 Earnings Presentation 3Q26 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26 Jul-26 Aug-26 Sep-
Slide 33: 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 34: petkim.com.tr
petkim.com.tr Earnings Presentation 3Q26 Scan QR Code to See more 34
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