Şişecam Reports TRY 40.2 Billion in Sales in First 6 Months

Şişecam, a global player with production activities spanning 14 countries across four continents and sales to over 150 countries, achieved consolidated net sales of TRY 40.2 billion in the first half of 2022. Şişecam's international sales accounted for 62% of total sales during the period, while total investments reached TRY 2.8 billion and exports amounted to USD 478 million. Şişecam General Manager Görkem Elverici made the following remarks: "The first half of 2022 was a challenging period globally, as the world faced macroeconomic and geopolitical risks, high inflation, rising costs and supply chain disruptions that continued to change business practices. Şişecam, a leading global player in the glass and chemicals sectors, continued its growth journey uninterrupted through the adaptability it developed with its major transformation initiative covering all activities and functions, its deep-rooted experience, strong risk management capabilities and sound investment decisions. In the first six months of the year, we moved a step closer to the targets we set for year-end, creating value for our shareholders while contributing to the growth of the sectors we serve and our country through the positive effect of our foreign currency-denominated revenues. Going forward, we will continue to produce and create sustainable value for all our stakeholders through the business processes and plans we manage with collective wisdom." In the first half, Şişecam produced 2.9 million tons of glass, 2.4 million tons of soda ash and approximately 2.1 million tons of industrial raw materials during the period. Regarding Şişecam's first half 2022 results, Şişecam General Manager Görkem Elverici said: "In the first half of 2022, economic and geopolitical risks facing the world, along with high inflation and supply chain problems, continued to shape country policies and the business world. As a strong global player in the glass and chemicals sectors, Şişecam successfully continued its growth journey through our advanced risk management capabilities, sound investment decisions, practices implemented with collective wisdom and transformation projects. As we continue on our path with the goal of being one of the world's top three players in our main areas of operation, we also continued our investments to support the growth of the locomotive sectors we serve, implementing a total of TRY 2.8 billion in investments. In the first six months of the year, we increased our revenue to TRY 40.2 billion. Our exports during this period amounted to USD 478 million. Going forward, we will continue to produce and create sustainable value for all our stakeholders."   Görkem Elverici, who noted that risks were managed effectively through a proactive and data-driven approach in the merger process that began with the lean and agile "One Şişecam" motto, continued his remarks as follows: "Our cost optimization practices, effective production planning, healthy supply chain management and successful crisis management capabilities help us achieve our ambitious targets. Şişecam's function-based organizational structure is nearly complete. Our leaner and more agile organizational structure provides us with the platform we need to rapidly adapt to the changing conditions of the new world. We continue to operate at nearly full capacity at our production facilities in 14 countries across four continents. With investments contributing to sustainable growth, we aim to double in size over the next five years."  

Frosted glass furnace and processing line investment

Görkem Elverici, noting that they continue to carry out uninterrupted investments that contribute to the growth, exports and development of the glass industry as the founder of Turkey's glass sector, stated that they closely monitor sectoral needs and demands and are accordingly bringing new investments on stream, continuing his remarks as follows: "To capitalize on the opportunities emerging in the rapidly growing solar energy sector and to meet rising demand, we have decided to invest in a new frosted glass furnace and processing line at the same site as our current new flat glass line in Mersin. This new investment will enable us to benefit from opportunities emerging in the rapidly growing global solar energy market and contribute to our strategy of producing sustainable value-added products. With this greenfield investment valued at approximately TRY 3.4 billion (EUR 185 million) including working capital, we aim both to contribute to the growth of the energy glass market and to bridge potential supply shortages that may emerge in the sector. Noting that Şişecam conducts all its activities in line with the goal of creating sustainable value, Görkem Elverici concluded his remarks as follows: "With every step we take toward our goals, we focus on continuously improving the alignment of our strategic objectives with Planet, Community and Life. Our 2030 sustainability strategy Care For Next serves as a roadmap guiding us on this path."