Adding value to Turkey for 59 years with its investments in the fields of chemistry, paint and port management, Polisan Holding has announced its financials for 2022. In 2022, when the world’s demand shrinks and costs rise, the consolidated revenue of the holding increased by 113% to TL 4.2 billion and combined revenues by 102% to TL 7.2 billion. Polisan Holding’s consolidated net profit amounted to TL 1.6 billion with an increase of 482.9%; and its combined net profit amounted to TL 2.2 billion with an increase of 604.9%.
Polisan Holding CEO Mehmet Hacıkamiloğlu made the following evaluation related to the final results; “In 2022, we continued to manage our operations within the framework of strict financial discipline, in the shadow of high inflation and recession threatening the world economy. The planning we have created for the working capital needs and indebtedness of our Group companies has allowed us to move forward in a more controlled manner. Despite global problems and uncertainties, we stuck to our investment calendar; we made a combined investment expenditure of TL 378 million. In the last five years, our combined investment with the growth focus has reached TL 763 million.”
Polisan Holding to open its third R&D Center
Providing brief information about the 2022 works of its subsidiaries Polisan Kimya, Polisan Yapıkim, Poliport, Polisan Hellas and Polisan Kansai Boya; Hacıkamiloğlu also touched on 2023 plans. Stating that the new resin factory of Polisan Kimya will start the production phase with high added value for export, Hacıkamiloğlu also mentioned that they will start investing in novalak resin. Pointing out that they will increase the number of R&D centers they have to three, Hacıkamiloğlu said: “Polisan Kimya and Polisan Kansai Boya have their own R&D centers. Thanks to these two centers, our competitiveness in the domestic and international markets is increasing day by day. We want to open an R&D Center within our company Polisan Yapıkim. 27 of our products in the categories of concrete, cement and underground chemicals are certified by international Environmental Product Declarations, namely EPD. We are one of the major material manufacturers of green building projects and we want to rapidly open the R&D Center to grow our strength here. We will thus be able to deepen and accelerate our work on new eco-friendly products that contribute to the reduction of operational natural resource consumption of our stakeholders in the value chain, specific to customer needs.”
Two new investments in Greece factory
Expressing in his statement that the preform mold investment works at the Polisan Hellas factories have been completed, Hacıkamiloğlu summarized the next investment they will make in their factory in Greece as “We will start the recycled PET investment”. Being the only granular pet producer in the Balkans, Polisan Hellas is expected to diversify its customer portfolio with these new investments. Hacıkamiloğlu also informed about the new tanks in the Kocaeli Bay Area that are continuing in the port investments Poliport and are aimed at increasing storage capacity on the liquid freight side. Underlining that the storage capacity will increase to 291,600 cubic meters in March 2023 with the new tanks, Hacıkamiloğlu stated that the filling capacity they want to reach in the medium and long term is 436,000 cubic meters.
