General manager of Petkim, Sadettin Korkut

48.6 million TL net profit from Petkim in 9 months General manager of Petkim, Sadettin Korkut: “ We have managed to catch a good trned in the last three quarters within the scope of the target of sustainable profitability “.
Financial results of Petkim Petrokimya Holding A.Ş. for the nine monthly period of the year 2013 have been announced.
The company which had incurred a net loss of the period at the amount of 27 million TL in the same period of 2012 has announced a net profit of 48.6 million TL for the first nine months of this year. Gross profit figure which has increased at an annual rate of 344 % in comparison to the first nine monthly period of last year has been 213,2 million TL with a margin of 7.2 %. The company has created an EBITDA (profit before interest , amortization and tax) value of 188 million TL with a margin of 6.8 % in the first nine monthly period of 2012 while the rate of capacity use has turned out to be 83%. While , during the first nine monthly period of the year 2013 market focused dynamic planning policy followed by Petkim by following up the market conditions closely and on the basis of establishing closer relationships with the customers are reflected positively in the the profit margins.
The fluctuations in the sector had a negative impact on its turnover. The increase in profitability continued in this quarter and despite the decrease of turnover recorded in the first two quarters of the year 2013. General manager of Petkim, Sadettin Korkut has stated that the increase in the rate of profitability was pleasing despite only a slight increase in the sales . Mr. Korkut who said that they had caught a good trend within the scope of sustainable profitability in the last three quarters added that their main target was to produce profitability rather than increasing turnover and market share . During that period Petkim ‘s turnover has been 2 billion 902 million TL, corresponding to a decrease of 13 % compared to the first nine monthly period of the previous year as a result of the effect of weak demand , product prices and the drop in the sale amounts . The sale amount has been 1 million 202 thousand tones in the same period.
Improvement is continuing in the costs Despite a drop in Petkim’s sales for the first nine monthly period of 2013 at the rate of 13 % profitability has been achieved thanks to the reduction of costs at the rate of 18 %. Sadettin Korkut pointed out to the fact that the positive results ensured by improvements in the costs and operational efficiency were apparent. Mr. Korkut who stated that the exchange rates which increased in the third quarter of the year 2013 had created uncertainty in the markets and that this ucertainty has given rise to fluctuations in the demand made the following evaluation on the sector: The first half year was troublesome for the european petro-chemical sector while a recovery was observed in demand especially in the third quarter as a result of the positive atmosphere created by expectations for improvement . An increase was observed in production and consequently in the rates of capacity use in order to meet the increasing demand . The rate of capacity use has reached 80 % for the first time in the sector this year. However the strengthening market continues to remain under the pressure of the rising production costs .
Sadettin Korkut who said that they expected the final quarter of the year to be lively in terms of demand made the following statement : “We carry our our production activities according to customer and market dynamics and concentrate on optimization and operational efficiency . We aim at reducing the costs permanently and increase our quality of product and service.”