Polisan Holding released its third-quarter financial statement for the year 2023. In the third quarter, Polisan Holding increased its consolidated sales revenue by 18% and its EBITDA by 50% compared to the previous quarter. As of the end of September, consolidated revenues increased by 11% to 3.5 billion Turkish Lira, and consolidated EBITDA rose by 2% to 566 million Turkish Lira.
In the third quarter of 2023, Polisan Holding continued its operations in the fields of chemicals, paint, port management, and real estate, along with partnerships developed with two major global giants. The company raised its consolidated revenues by 11% compared to the previous year’s quarter, reaching 3.515 billion Turkish Lira.
During the third quarter, Polisan Holding increased its consolidated EBITDA margin by 9.4 points to 23.6% compared to the previous quarter, with a 50% increase in EBITDA reaching 317 million Turkish Lira. With the successful third quarter, the company saw a net profit of 411 million Turkish Lira as a result of the contribution from the operational profit. Polisan Holding showed improvements in combined financial results, achieving a 13% increase in combined revenues to 5.8 billion Turkish Lira and elevating combined EBITDA to 862 million Turkish Lira.
“Our main goal is to create added value for our country, shareholders, and stakeholders through our activities.” Cantekin Dinçerler, Executive Board Member of Polisan Holding, stated in his assessment of the third-quarter balance sheet results: “We have a solid balance sheet to deal with increasing geopolitical risks and challenging market conditions worldwide, with diversified business lines and a reputable, established brand. With effective risk and performance management, as well as the efforts of our colleagues, we achieved significant progress in the third quarter. In the third quarter of 2023, we experienced a successful period, increasing our consolidated sales revenue by 18% and our consolidated EBITDA by 50.2% compared to the previous quarter. We raised our consolidated EBITDA margin by 5 points to 23.6% compared to the previous quarter. We began to see the results of the actions taken in the second quarter in the third quarter, and in the first 9 months of the year, our sales revenues increased by 11% in consolidated terms compared to the same period of the previous year, while our combined revenues increased by 27%. All our group companies, excluding Polisan Hellas, experienced significant growth in their turnover, and the 9-month EBITDA reached 566 million Turkish Lira.”