Gross Profit Percentages for Some of Turkey’s Chemcial Companies

Using three sectors (chemicals, petroleum, rubber and plastic products; chemicals; and other chemical products) on the Turkey Stock Exchange (click here), recent revenue and gross profit data were found for 13 chemical companies. 

Presented below are the names of the 13 companies, product/sector information, and recent sales (revenue) and gross profit amounts in US dollars (Turkish Lire amounts were converted to usd using 1 usd = 1.874 Turkish Lire exchange rate).   Also shown are the gross profit margin percentages (gpm%) for the revenue (sales) and gross profit data.

company	products	sector	sales usd (millions)	gross profit usd (millions)	gpm%
Petkim	petrochemicals	petrochemical	2,205	50	2%
Gubretas	fertilizer	fertilizer	1,227	311	25%
Aksa	carbon fiber	fiber	923	168	18%
Brisa	tires	rubber	800	209	26%
Soda Sanayil	soda ash	chemicals	747	154	21%
Sasa	polyester	fiber	582	38	7%
Dyo Boya	paint	paint	304	105	35%
Pakpen Plastik	plastic	plastic	229	37	16%
Bagfas	fertilizer	fertilizer	176	28	16%
Ege Plast	pipes	plastic	169	47	28%
Alkim Alkali	sodium sulfate	chemicals	121	29	24%
Ege Guebre	fertilizer	fertilizer	106	22	21%
Berkosan	packaging	plastic	13	2	15%
		total sales $7.6 billion		average gpm%	20%

The average gross profit margin percentage (20%) of the 13 Turkey chemical-related public companies is lower than the typical US chemical company gpm%.  A US company gpm% average was computed as 28%.  Click here to go to US company data.   On the other hand, the Turkey companies’ gpm% average is higher than a gpm% average computed for 14 South Korean public companies, which is 17%.  Click here to go to the South Korean data.

The US chemical companies’ gpm% may be higher because more of their products encompass unique attributes versus products with more basic attributes being sold by Turkish and South Korean companies. 

Estimates for recent chemical sales by Turkey’s chemical companies are between $40 and $45 billion.  Chemical sales growth in recent years has been estimated to be about 8 to 10 % per year.  Around 4,000 companies are believe to sell chemicals, with most of these small (less than 150 employees) and private.  For example, only 13 companies, identified above, could be found listed on the Turkey Stock Exchange.  These 13 companies account for about 18% of the $40 to $45 billion in sales ($7.6 billion/$42.5 billion).

The major chemical sectors are: paints and coatings; fertilizers; detergents, cosmetics, and personal care; plastics; rubber; and inorganic chemicals.  Turkey has large sources of soda ash, chromium, sodium sulfate, and boron.

Turkey has an excellent geographical position as an exporting country, located between Europe, the Middle East, North Africa, and Central Asia with good ports on the Mediterranean and Black Seas.  Turkey chemical exports are significant, about half of its production of $40 to $45 billion, and have been increasing at a good rate.  For more on Turkey’s chemical production and exports, click here to read another of my posts.