The net loss of the Turkish Petkim Petrokimya Holding amounted to $66.4 million in the first quarter of 2025 against $31 million in net profit for the same period in 2024, Report informs referring to the financial statements of the petrochemical holding.
Petkim's revenue in January-March 2025 decreased by 22.8% to $455.575 million with a 19% decrease in cost to $481 million.
Gross loss amounted to $25.5 million (6.4 times increase), main operating loss - $67.8 million (1.7 times increase), loss before tax - $53.7 million against profit in January-March 2024 of $41 million.
The holding's assets as of March 31, 2025, amounted to $3.45 billion, which is 2.3% less than the figure as of December 31, 2024.
At the same time, current assets amounted to $743.5 million (3.5% decrease), long-term assets - $2.7 billion (2% decrease).
Liabilities at the end of the quarter are estimated at $1.91 billion (up 1.6%), equity - $3.403 billion (down 6.8%).
Share capital remained unchanged at $65.35 million.
SOCAR Turkiye Enerji (a Turkish subsidiary of SOCAR) is the owner of a controlling stake (51%) in Petkim Petrokimya Holding. Petkim, founded on April 3, 1965, is Turkiye's leading petrochemical complex.