Türkiye Sise Ve Cam Fabrikalari : Şişecam Increased Its Net Sales To 66,2 TRY Billion In The First 9 Months Of The Year
January 12, 2023 at 10:40 am EST
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Şişecam increased its net sales to 66,2 TRY Billion in the first 9 months of the year
As a global player in glass and chemicals industries, Şişecam increased its consolidated net sales to TRY 66,2 Billion in the first 9 months of 2022. Şişecam's total investments reached to TRY 5 Billion in the same period.
Şişecam's consolidated net sales totaled TRY 66,2 Billion and international sales of the Company accounted for %63 in the first 9 months of 2022. Şişecam produced 4,3 Million tons of glass, 3,6 Million tons of soda ash, and 3,4 Million tons of industrial raw materials in the same period. Thanks to its journey of change and transformation, Şişecam continues to achieve its financial targets in an atmosphere full of macroeconomic and geopolitical uncertainties on a global scale.
Şişecam CEO Görkem Elverici commented on the Company's results: "The world entered a normalization period for the financial statements with the effects of macroeconomic fluctuations together with soaring energy prices and inflation-related factors in the 3rd quarter of the year. As the recession becomes the major topic around the world, concerns regarding the energy supplies have increased dramatically. Many global companies in the glass industry have decided to bring their cold repair processes forward with the impact of balancing demand as a reflection of their industrial customers' cautious stance in response to escalated uncertainties. Meanwhile, Şişecam continued to grow further even in this challenging environment. With our efficient cost optimization practices and risk management skills we are working continuously to run our production operations as planned for the rest of the year."
"With production activities in 14 countries on four continents and sales in more than 150 countries, we have the necessary instruments and competencies to manage complexities in different economic conditions and different regulations, yet we continue to operate uninterruptedly. Thanks to our ability to produce with alternative energy sources and our power to include all the necessary instruments for financial and operational sustainability, we create sustainable value for all our stakeholders even in this challenging period. We protect our investors with share buyback programs. We also take important steps to strengthen our suppliers, customers, and employees with our inclusive development-oriented approach. We see glass not as the product of this year but as the need of the age and we make all our projections in the light of this approach. We strive to create growth and value to all our shareholders and believe that Şişecam will continue its rapid, determined and selective growth journey" Görkem Elverici said.
Türkiye Sise ve Cam Fabrikalari AS published this content on 12 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 January 2023 15:39:01 UTC.
Turkiye Sise ve Cam Fabrikalari AS (Sisecam) is a Turkey-based company engaged in the production of glass and chemicals. It is comprised of four main business sectors: the flat glass group, including basic glass, automotive glass and glass for other vehicles; the glassware group, engaged in the design, production, marketing and sale of table and kitchen articles, and souvenirs made of glass; the glass packaging business, that produces packages of different volumes and colors for water, mineral water, beverage, fruit juice, milk, beer, wine and other high-alcohol drinks, and for pharmacy and cosmetic sectors, and the chemicals group, responsible for soda ash and chromium chemicals production.