Petkim Petrokimya Holding Anonim Sirketi · BIST:PETKM
Petkim Petrokimya Holding Anonim Sirketi — Petkim Petrokimya Holding A.Ş. — Q1 2026 Earnings Presentation
31 slides from Petkim Petrokimya Holding Anonim Sirketi's earnings presentation, May 2026
Slide 1: 1Q26 Results Investor Presentation
1Q26 RESULTS INVESTOR PRESENTATION MAY 2026
Slide 2: Welcome to Our Earnings Presentation
Welcome to Our Earnings Presentation Page 03-04 1Q26 FINANCIAL HIGHLIGHTS Page 05-09 INDUSTRY ENVIRONMENT Page 10-19 OPERATING & FINANCIALS RESULTS In the Stars of Export Awards Page 20-22 organized annually by the STAR REFINERY Aegean Exporters’ Associations Earnings Presentation 1Q26 (EIB), we mai
Slide 3: Financial Highlights
Sales FINANCIAL HIGHLIGHTS ₺27.0 BN 9% QoQ EBITDA Net Income ₺0.4 BN 1% Margin (126%) QoQ ₺0.3 BN 0,12 TL/Share (105%) QoQ Earnings Presentation 1Q26 Cash Net Debt ₺4.3 BN 0,6x Current Ratio (8%) QoQ ₺46.1 BN 0,4% QoQ 3
Slide 4: 1Q2026 Highlights
1Q2026 Highlights 01 Solid performance underpinned by seasonal improvement and the effects of March geopolitical tensions Petkim’s average gross unit margin showed improvement on a month-on-month basis, reaching an average of USD88/ton 02 The rapid increase in feedstock prices led to significant inv
Slide 5: Industry Environment
INDUSTRY Earnings Presentation 1Q26 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 619 352 312 331 305 308 257 198 232 210 210 Ethylene-naphtha spread increased 180 181 128 159 by about 36% from USD158/ton in 227 4Q25 to USD214/ton in 1Q26 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 5-Year Max
Slide 7: Key trends in the industry
Industry Environment Key trends in the industry Product groups spread (over naphtha CIF MED) USD/MT Geopolitical tensions 800 Weak demand and deepening supply crisis 700 Increasing feedstock and freight costs 600 In the first quarter, the impact was 500 predominantly on the cost side, as rising feed
Slide 8: Product groups spread over naphtha
Industry Product groups spread Environment (over naphtha CIF MED), USD/MT Polymers Fibers 1000 1000 HDPE LDPE PP PVC MEG ACN PTA DEG 800 800 600 600 400 400 200 200 0 0 Jan-25 Mar-25 May-25 Jul-25 Sep-25 Nov-25 Jan-26 Mar-26 -200 Jan-25 Mar-25 May-25 Jul-25 Sep-25 Nov-25 Jan-26 Mar-26 Earnings Prese
Slide 9: 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 2.291 2.362 2.304 2.000 1.948 1.500 Surplus (k tons) 1.000 Türkiye domestic demand is primarily met by imports 500 220 228 231 264 276 0 Arom 1Q25 2Q25 3
Slide 10: Operating & Financial Results
OPERATING & FINANCIAL RESULTS Earnings Presentation 1Q26 10
Slide 11: Capacity Utilization & Gross Production
Capacity Utilization Capacity utilization rates (%) Thermoplastics Ethylene Other Aromatics Fiber & Gross Production 100% 90% 89% 87% 87% 93% 171% 78% 151% 80% 81% 131% 75% 82% 75% 74% 70% 111% 60% 97% 97% 91% 99% 92% 88% 50% 71% 40% 51% 18% 30% 18% 18% 20% 18% 14% 31% 12% 11% 14% 12% 10% 0% 8% 0% -
Slide 12: Petrochemical Product Sales
Petrochemical Product Sales Breakdown of petchem sales (USD mn) Thermoplastics Fiber Aromatics Other Trade Breakdown by percentage in 1Q26 168 148 172 171 111 28% 34% 145 Total petchem sales 127 113 121 102 Earnings Presentation 1Q26 68 84 65 79 85 $608mn 13 8 11 11 4 1% 199 198 206 199 206 24% 14%
Slide 13: Breakdown of Sales
Breakdown of Sales Sales volume (k tons) Total volume: 180 Revenue breakdown (%) 110 93 35 Other 583k tons 37 35 33 20 22 3 15 Export 1% 47% PVC LDPE HDPE PP Arom Naphtha ACN Benzene C4 P-X Others Trade Total revenue: Revenue (TRY mn) 7.448 Domestic 5.573 5.281 52% ₺26,995mn 781 1.237 1.848 601 165
Slide 14: 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 800 45 10% 6% 700 687 28% 35 31% 600 558 584 551 6% 509 512 506 515 522 503 25 503 500 499 5% 8% 472 7% 500 463 7% 8% 15
Slide 15: Feedstock vs. Product Prices of Petkim
Feedstock vs. Product Prices of PETKIM Thermoplastics and naphtha spread Petchem unit margins USD/ton USD/ton 1.200 250 2.400 900 1.348 1.341 1.338 1.000 200 1.343 1.280 1.277 1.299 1.285 1.347 2.000 1.237 800 139 1.155 1.119 1.089 1.127 1.114 150 118 800 101 89 1.600 700 79 74 72 81 100 68 600 61 6
Slide 16: Petkim 1Q26 Income Statement
PETKIM 1Q26 TRY mn Q4’25* Q1’26 QoQ Δ (%) Income Sales 24,802 26,995 9% Cost of sales (26,441) (26,991) 2% Statement Gross profit (1,639) 4 (100%) Gross profit % (7%) 0% - Marketing and sales expenses (405) (508) 26% General administrative expenses (1,146) (1,105) (4%) Operating profit (3,189) (1,60
Slide 17: EBITDA turned positive due to pricing delta and inventory
EBITDA turned positive majorly due to positive pricing delta and inventory (TRY mn) 2.854 418 405 1.484 Earnings Presentation 1Q26 374 (2.553) 138 (1.529) Pricing delta (782) ₺301mn Q4'25 Price Raw Material Volume and OpEx FX Inventory Other* Q1'26 Efficiency 17 *Main contributors to the Other item:
Slide 18: Petkim 3M26 Balance Sheet
TRY mn 12M’25* 3M’26 QoQ Δ (%) PETKIM 3M26 Cash and cash equivalents 4,684 4,291 (8%) Balance Sheet Trade receivable 14,728 17,447 18% Inventory 10,395 7,942 (24%) Other receivables 4 0 (89%) Other current assets 4,122 4,299 4% Current assets 33,932 33,979 0% Non current assets 132,599 130,868 (1%)
Slide 19: Liquidity Highlights
Liquidity Highlights Cash Portfolio (%) Maturity profile (USD mn) USD TRY EUR Long term Short term 19% 52 7% USD117 mn 254 577 216 3 74% 2026 2027 2028 Cash flow from operations and investment activities (USD mn)* Net debt position (USD mn) CFI CFO 120 40 150 1.400 Earnings Presentation 1Q26 100 28
Slide 20: STAR Refinery
STAR REFINERY Earnings Presentation 1Q26 20
Slide 21: 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 22: STAR Refinery Operating and Financial Highlights
STAR Refinery Operating and Financial Highlights Q1 2026 Figures Capacity utilization Crude processed (per year) 98% 13mn tons Thanks to synergy between Petkim, arom heavy naphtha was blended into the jet pool to take advantage of elevated cracking margins Product sales Domestic sales 3.1mn tons 69%
Slide 23: Sustainability & ESG
SUSTAINABILITY & ESG Earnings Presentation 1Q26 23
Slide 24: Sustainability Strategy: 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 25: 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: 3.1/5 in the BIST Sustainability 25 Index in 2023
Slide 26: Supporting Slides
SLIDES SUPPORTING Earnings Presentation 1Q26 26
Slide 27: Petkim / SOCAR Türkiye plans new Ethylene, PP and HDPE/LLDPE plants
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 28: 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 29: Petkim Stock Performance
PETKIM Stock Performance Unit mn Petkim Volume PETKM TI Equity XU100 Index 150 400 140 350 130 300 120 250 110 100 200 90 150 80 100 70 50 60 50 0 Earnings Presentation 1Q26 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 Closing
Slide 30: 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 31: petkim.com.tr
petkim.com.tr Earnings Presentation 1Q26 Scan QR Code to See more 31
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