Şişecam Group announces FY 2017 results

Ahmet Kırman
Photo source
www.sisecam.com

Date: 20 March 2018

Şişecam's net sales reaches TL 11.3 billion with an 32% increase in 2017.

Şişecam Group reported consolidated net sales of TL 11.3 billion and a net profit of TL 1.7 billion for the full-year 2017. The Group's total investments reached TL 1 billion in the same period. 

Şişecam GroupŞişecam 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 increased its total consolidated net sales revenue increased by 32% year-over-year in 2017, reaching TL 11.3 billion. The Group reported a net profit of TL 1.7 billion for the same period.

In 2017, Şişecam, a group with manufacturing activities in 13 countries in three continents and sales in all over the world, produced 4.8 million tons of glass, 2.3 million tons of soda and 4.2 million tons of industrial raw materials.

 

The share of international sales reaches 60%

"In 2017, our consolidated net sales have reached TL 11.3 billion. The share of our international sales representing the total amount of exports from Turkey and sales from overseas production is 60% in our consolidated sales. During the same period, international sales volume reached TL 6.8 billion. Thanks to ongoing efforts to optimize the cost structure and the geographical distribution of production activities, consolidated EBITDA reached TL 3.1 billion in the same period,” Prof. Ahmet Kırman, Vice Chairman and Chief Executive Officer, said.

Şişecam Group reported total investments of TL 1 billion and continued to support the national economy with an export volume of USD 748 million in 2017.

"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 are constantly realizing our evaluations of policies to be followed in the direction of our objectives of sustainable profitable growth and operational excellence, taking into consideration the conditions of the global economy," Kırman noted. 

600450 Şişecam Group announces FY 2017 results glassonweb.com

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