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Şişecam Group’s net sales increase by 24% in the first half of 2018

, Şişecam Group

Şişecam Group’s consolidated net sales reached TL 6.8 billion in the first half of 2018, with an increase by 24% compared to the same period of the previous year. While the share of international sales within the total Şişecam sales was at level of 59%, the net profit of the Group rose to TL 1.6 billion, with an increase by 93% in this period.

Şişecam Group, a global actor in business fields including all main areas of glass industry -flat glass, glassware, glass packaging and glass fiber- as well as soda and chromium chemicals, announced financial results for the first half of 2018. Şişecam’s consolidated net sales reached TL 6.8 billion in the first half, with an increase by 24% compared to the same period of the previous year. The Group reported a net profit of TL 1.6 billion with an increase by 93% for the same period. In the first half, Şişecam, a group with manufacturing activities in 13 countries in three continents and sales in all over the world, produced 2.4 million tons of glass, 1.2 million tons of soda ash and 1.8 million tons of industrial raw materials.

In a statement on the half-year financial results, Şişecam Group Vice Chairman and CEO Prof. Ahmet Kırman noted, “Our consolidated net sales have reached TL 6.8 billion. The share of our international sales representing the total amount of exports from Turkey and sales from overseas production has been 59% in our consolidated sales. Thanks to ongoing efforts to optimize the cost structure and the geographical distribution of production activities, consolidated EBITDA has reached TL 2.2 billion in the same period.”

“While boosting our revenue and profitability, we have made significant investments”

Şişecam Group reported total investments of TL 1.2 billion in the first half of 2018. “While boosting our revenue and profitability in the first half, we have made significant investments supporting our long term sustainable growth. During this period, we concluded two acquisitions, one in Italy and the other in India, with a view to improve our effectiveness in existing markets. We have taken the position to be the principal shareholder in our flat glass subsidiary in India, which is one of the most attractive emerging markets in the world. We are committed to increase our investments in parallel to the growth opportunities in India, a country offering significant potential in terms of the increasing demand for glass. Upon the completion of the acquisition process of Manfredonia facility in Italy, we have doubled our flat glass production capacity in this country. With this facility’s production capacity of 190,000 tons/year, we have further strengthened our flat glass leadership in Europe,” Kırman said.

Kırman continued, “In Turkey, our investments aiming at automation, modernization and capacity improvement in line with the Industry 4.0 approach have continued in addition to our new investments. We completed our fourth furnace investment in our Eskisehir Glass Packaging Plant. With this new furnace with an annual production capacity of 150,000 tons, our annual glass packaging production capacity in Turkey has reached 1.2 million tons. Our efforts to put our new glass fiber plant offering an initial annual production capacity of 70,000 tons in Balıkesir into operation in the last quarter of the year are going on at full speed.”

“We keep on creating values for all stakeholders with our successful financial results”

Şişecam Group continued to contribute the national economy with an export volume of USD 391 million in the first half of the year. “We keep on creating values for all of our stakeholders, with successful financial results. Our goal is to further strengthen our financial structure to maintain the continuity of the Group's steady growth line and to support our growth in the upcoming periods. While continuing to increase the speed of our efforts to optimize our production facilities, we will continue to optimize our costs using all efficient methods, including increased use of automated systems. We continue our efforts in line with our objectives of becoming one of top three global producers in all-main business fields, sustainable profitable growth and operational excellence,” Kırman noted.

About Şişecam Group

One of the most established enterprises in Turkey, Şişecam Group is a global actor in business fields including all main areas of glass industry, i.e. flat glass, glassware, glass packaging and glass fiber, as well as soda and chromium chemicals. Today Şişecam, the world’s leading supplier of chromium compounds and the 10th largest soda ash producer in the world, is the 3rd largest glassware, the 5th largest glass packaging and flat glass manufacturer globally.

The Group, which has 43 production facilities in total, has manufacturing activities in Turkey, Germany, Italy, Bulgaria, Romania, Slovakia, Hungary, Bosnia-Herzegovina, the Russian Federation, Georgia, Ukraine, Egypt and India. With its more than 80 years of experience, nearly 22,000 employees, production in 13 countries, and sales in more than 150 countries, Şişecam is a group at international scale and continues on its journey to become one of top three global producers in its all-main business fields.

www.sisecam.com

, Şişecam Group

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