Polisan Holding Announces Second Quarter 2025 Financial Results

Polisan Holding generated consolidated revenue of TRY 2.8 billion and EBITDA of TRY 488 million in the first half of 2025.

Polisan Holding recorded consolidated revenue of TRY 2.8 billion, gross profit of TRY 651 million and EBITDA of TRY 488 million in the first half of 2025. During this period of continued challenging market conditions, the Holding took strategic steps toward portfolio restructuring alongside operational efficiency and balance sheet management.

Among the significant decisions taken in the first half of the year was the suspension of production activities at Polisan Hellas, Polisan Holding's affiliate in Greece, due to shrinking demand in the PET sector and economic conditions. The Holding continued to provide financial support to reduce Hellas' debt burden, and debts were restructured. Polisan Holding CEO Cantekin Dinçerler stated that this decision aimed to reduce pressure on the Holding's profitability. He also said that discussions with potential buyers regarding the sale of Hellas shares continue.

Dinçerler noted that work continues on physical reorganization of an approximately 22,750 square-meter area at the Dilovası campus and rehabilitation of idle structures in line with the needs and investment plans of Polisan Holding's subsidiaries, explaining: "The revaluation of these areas to generate revenue began with the 8,000 square-meter Temporary Storage Area allocated to Poliport."

Regarding the transfer of Polisan Holding's Paints Group affiliates (Polisan Kansai Boya and Rohm & Haas) to the newly established Marmara Holding A.Ş. through partial demerger, CEO Dinçerler said: "This step, which will enable the Paints Group to grow with its own dynamics, will allow the Holding to focus more clearly on its strategic objectives. We believe the demerger will create value for all our stakeholders." The demerger application was approved by the Capital Markets Board (SPK) on 23 July 2025. The Extraordinary General Meeting regarding the demerger will be held on 29 August 2025.

Polisan Holding CEO Cantekin Dinçerler made the following comments in his assessment of financial results:

"Polisan Holding's financial performance is directly affected by global and local economic conditions. Economic stagnation in Europe and weakness in domestic demand in Turkey, although the exchange rate-inflation gap has narrowed, continue to create pressure particularly on industrial production. Against weak market conditions, rising financing costs and high working capital requirements, we have continued to protect our financial position through measures taken, while at the same time taking strategic steps toward portfolio restructuring. In this context, the key developments were the suspension of production at Polisan Hellas, the physical reorganization of the Dilovası campus and the initiation of the partial demerger process of the Paints Group affiliates."