(=) Turkey cut the additional tariffs on some import products from US Following the decision of US authorities to cut additional tariffs on steel imports from Turkey, Turkey also adjusted tariffs on US imports and cut some of additional tariffs which had been placed in August 2018. The aforementioned products mostly consist of alcoholic beverages, tobacco products, cosmetics, paper related products and some chemicals- inc. PVC. Among the listed companies, Petkim could be directly impacted from the tariff adjustment as a sole PVC producer in Turkey. Correspondingly, The tariffs on PVC imports are adjusted down from 50% to 25%. Turkey imports annually c.840k tons of PVC where c.14% of it is imported from US. Petkim is the sole PVC producer in Turkey with its total production capacity of 150k tons that is almost working at full capacity. However, the revenue generation from PVC sales comprises only 8% of Petkim’s total sales. Accordingly, we do not expect a major impact of the tariff adjustment on the operational performance.
(=) Türkiye ABD’den ithal edilen bazı ürünlerdeki ek vergiyi kaldırdı ABD’nin Türkiye’den ithal edilen çelik ürünleri üzerindeki vergiyi düzeltmesi sonrası Türkiye de ABD’den ithal edilen bazı ürünlerdeki ek vergiyi kaldırdı. Bahsi geçen ürünler ağırlıklı olarak tütün, alkollü içecekler ve kimyasal ürünleri içeriyor. Kimyasal ürünler arasında PVC de bulunuyor. Petkim Türkiye’nin tek PVC üreticisi olarak vergi düzeltmesinden direk etkilenebilir ancak şirketin toplam gelirleri içindeki payı sadece %8 seviyesinde. Bu nedenle vergi düzenlemesinin operasyonlar üzerindeki etkisi sınırlı olabilir.
