Şişecam Group’s net sales increase by 37% in 2018

Şişecam Group’s net sales increase by 37% in 2018
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www.sisecam.com.tr

Date: 21 April 2019

Şişecam Group’s consolidated net sales during the fiscal year 2018 reach the level of TRY 15.6 billion with an increase by 37% compared to the same period of the previous year.

The share of international sales within Şişecam’s total sales made during the period in question is at the level of 61 per cent, while the Group’s total investments during 2018 reach the level of TRY 2.6 billion.

Sisecam logoThe consolidated net sales of Şişecam Group for the fiscal year 2018 reached the level of nearly TRY 15.6 billion with an increase by 37% compared to the same period of the previous year. The Group also obtained a net profit of nearly TRY 3.4 billion as a result of continuing the raise of its profitability with a sustainable performance from all aspects.

Achieving a total glass production volume of 4.9 million tons at its domestic and overseas plants, the Group manufactured 2.4 million tons of soda ash and 4.1 million tons of industrial raw material during this period.

Prof. Ahmet KırmanIn his statements regarding the financial results for the period of 2018, Prof. Ahmet Kırman, Şişecam Group Vice Chairman and CEO, says, “Our consolidated net sales figure was TRY 15.6 billion by the end of the year 2018. The share of international sales, which represents the total sales made up of exports from Turkey and sales made as a result of our overseas production operations, reached the level of roughly 61 per cent. In consequence of our ongoing optimization efforts regarding cost, geographical distribution of production, etc... aspects, our consolidated EBITDA volume was at the level of TRY 4.9 billion.”

While improving our revenues and profitability, we also made important investments in 2018”

Explaining that they, as a Group, made an investment expenditure of approximately TRY 2.6 billion, Kırman continues, “While improving our revenues and profitability during the period 2018, we have also made significant investments in support of our long-term sustainable growth. In order to reinforce our effectiveness in our existing markets, we concluded two acquisition operations during that period in Italy and India in the flat glass line. We have gained the principal shareholder status at our flat glass subsidiary in India, a country amongst the most attractive developing markets of world. We will continue our investments in India in line with the growth opportunities offered by this market with an important potential thanks to its increasing glass demand. We have increased our flat glass production capacity in Italy by two-fold upon completion of the acquisition process for Manfredonia plant. We have further strengthened our leading position in Europe through the acquisition of this plant with an annual production capacity of 190 thousand tons. In Turkey, we continued our investments for automation, modernization, and capacity growth with the approach of Industry 4.0, besides our new investments. We completed our investment for the fourth furnace at our glass packaging plant in Eskişehir. Upon putting this new furnace into operation with an annual production capacity of 150 thousand tons, our glass packaging production capacity in Turkey reached the level of 1.2 million tons per year. Moreover, we commissioned our new glass-fiber plant in Balıkesir during the last quarter of the year and started our production operations. Thanks to our new investment that will have an initial production capacity of 70 thousand tons per year, we are aiming at substituting the glass-fiber imports and at transforming national resources, led by boron, into products with added value.”

We are continuing to create value for all of our stakeholders thanks to our successful financial results”

Stating that they continued contributing to economy with an exports revenue of nearly USD 760 millions in 2018, Kırman adds, “We are continuing to create value for all of our stakeholders thanks to our successful financial results. We have the aim of further reinforcing our financial structure in such a manner that it underpins our growth also during the upcoming periods. While maintaining our efforts for the optimization of our production places at a fast pace, we will also keep optimizing our costs by employing all of the efficient methods led by the increased use of automation. We are continuing our operations in line with our goals for ranking among the top three globally, achieving a sustainable and profitable growth, and ensuring the operational excellence in all of our business lines.”

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