Petkim: Higher income from asset revaluation led to higher than expected net income
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Petkim posted TL1,495mn net income in 3Q22, higher than our estimate of TL708mn and consensus estimate of TL1,006mn.
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The company posted TL687mn EBITDA in 3Q22, lower than our estimate of TL819mn
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The company’s EBITDA/ton declined to US$56 in 3Q22 (ATA Est: US$70) from US$120 in 2Q22.
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