ECONOMY


Turkey's Petkim earns net profit of 872m liras in 2018

Baku, March 3, AZERTAC

Petkim, Turkey's petrochemical raw material manufacturer, announced an increase in its net profit to 872 million Turkish liras last year.

The company's pretax profits less its operating expenses, interest paid, and depreciation amounted to 1,523 billion Turkish liras during the year. The company's revenue reached 9.3 billion Turkish liras in 2018.

Turkey's first petrochemical plant "Petkim Holding" was established in 1965. SOCAR purchased 51 percent stake in Petkim for $ 2.04 billion, at the end of privatization process in 2008. Over $ 760 million has been invested to improve Petkim over these years.

With a gross production volume of 3.6 million tons/year, Petkim is currently one of the largest companies in the sector and one of Turkey’s leading exporters.

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