Cash flow from operating activities decreased to negative USD40mn, mainly driven by declining EBITDA but cushioned by stringent working capital management
Hizmete Özel (Dış Taraflar)
3
Industry Environment
Global petrochemical market Petrochemical market in Turkey
Hizmete Özel (Dış Taraflar)
Industry environment
Monthly naphtha - ethylene spread (CIF MED spot prices)
USD/tonne
1.461
1.532
1.424
1.433
2.600
1.271
1.380
2.400
1.123
1.200
2.200
942
1.001
2.000
899
783
872
1.800
781
819
812
900
1.600
1.400
651
1.200
600
855 1.048
937
928
854
1.000
600
800
300
783
417
412
595
496
527
754
661
610
642
654
580
672
694
644
400
369
238
232
200
248
357
171
141
165
200
0
0
Spread Naphtha Ethylene
Monthly average Platts index*
USD/tonne
1.320
1.292
1.249
1.173
1.218
1.115
1.040
928
924
932
890
878
873
869
843
(*) compilation of ethylene, propylene, benzene, toluene, PX, LDPE and PP.
Ethylene prices increased
Ethylene-naphtha spread
Margins were exposed to full cost
1Q23 PLATTs index increased
by 17%, while the cost of
increased by 50% from
burden, as ethylene and propylene
by 5% from the previous
naphtha raised by 7% in
USD184/ton in 4Q22 to
prices were stagnated against
quarter, remain burdened with
1Q23 compared with the
USD275/ton in 1Q23
firming naphtha costs
fragile demand
4Q22
Hizmete Özel (Dış Taraflar)
5
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Petkim Petrokimya Holding AS published this content on 09 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 May 2023 05:29:02 UTC.
Petkim Petrokimya Holding AS is a Turkey-based petrochemical company. The main product groups are Low-density polyethylene (LDPE); High-density polyethylene (HDPE); Polyvinyl chloride (PVC); Polypropylene (PP); Masterbatches; Olefins; Fibers, and Aromatics. The Company also produces other chemicals, such as caustic soda. The Companyâs products are used in construction, electricity, electronic, packaging, textile, medical, automotive, agriculture, dying, detergent and cosmetic sectors. Petkim Petrokimya Holding AS operates a network of primary manufacturing plants, and auxiliary units, including a waste water treatment unit and a nitrogen and air supply unit. The Companyâs products are exported worldwide to Europe, the United States, Africa, the Middle East, Asia and the Far East.