Polisan Holding Announces Financial Results for First Nine Months of 2024

Polisan Holding generated TRY 4.5 billion in revenue in the first nine months of the year. Reaching EBITDA of TRY 842 million in the first nine months, the Holding maintained its EBITDA performance despite increasingly challenging market conditions throughout the year and completed its planned investments for 2024.

Polisan Holding, operating in the chemicals, port, real estate and paints sectors, reported its 2024 nine-month financial results to the Public Disclosure Platform (KAP). The Holding achieved consolidated revenue of TRY 1.65 billion in the third quarter of 2024, with gross profit of TRY 383 million. Third quarter EBITDA was realized at TRY 308 million. 

Polisan Holding recorded consolidated revenue of TRY 4.5 billion in the first nine months of 2024. Despite tightening conditions in the global and regional economy, Polisan Holding's gross profit moved in line with the same period of the previous year at TRY 1.1 billion. EBITDA reached TRY 842 million, and EBITDA margin was realized at 18.6%, up 2.7 percentage points.

Cantekin Dinçerler: "We maintained our EBITDA performance in the third quarter despite increasingly challenging market conditions." 

Polisan Holding CEO Cantekin Dinçerler stated in his assessment: "In the first nine months of the year, we continue to feel the effects of weak trends in export markets. At the same time, the contraction domestically is further affecting competitive conditions, while we are going through a period of rising financing costs and widening inflation-currency spreads. However, despite all these challenging market conditions, we are moving forward as Polisan Holding by taking necessary measures. We are limiting negative impacts through our efforts to increase the weight of high value-added products and services in our portfolio.

At the same time, we continue with our investments. In this direction, we completed our polymer investment with 30,000 metric tons capacity at Polisan Yapıkim's Adana plant in July. With this investment, we aim to achieve savings in transportation, intermediate product costs, storage and handling expenses in addition to capacity increase. Additionally, we completed the renovation and modernization investment of Poliport's 8th tank farm with 5,850 m3 capacity. Moreover, we are continuing feasibility studies for Poliport's additional capacity expansion project. In the last quarter of the year, we will continue to take measures depending on developments at home and abroad."