Şişecam Held Its 90th Annual Ordinary General Assembly with Shareholders

Şişecam, met with its shareholders at the 90th Ordinary General Assembly to evaluate the Company’s financial and operational performance for 2025. During the General Assembly, Şişecam presented its 2025 Annual Report, along with the strategic initiatives implemented throughout the year, updates to its organizational structure, and an overview of its global performance.

Addressing shareholders at the General Assembly, Şişecam CEO Can Yücel underscored that the Company successfully navigated this challenging period through its flexible multi-geography operating model, robust operational management, balanced portfolio, and the unwavering commitment and expertise of its team. He stated: “2025 was a challenging year marked by macroeconomic and geopolitical developments that impacted every aspect of the economy- spanning production, trade, supply chains, and investments. In a period when protectionist policies became more prominent globally, international trade faced increasing uncertainty, and corporate decision-making processes naturally became more complex. In such times, achieving sustainable success requires companies to manage efficiency, disciplined financial governance, operational capacity, and long-term investment plans simultaneously. While 2025 posed a significant test for all industries, Şişecam demonstrated its determination to turn challenges into opportunities with its strong management reflexes, skilled workforce, flexible structure, and production capabilities spread across multiple geographies. While preserving our profitability, we took actions that strengthened the return potential of our investments and enhanced our financial resilience.” 

Yücel continued by noting that Şişecam successfully managed this period thanks to its operational flexibility, balanced portfolio structure, and disciplined cost–price management: “To extend our efficiency focus across the entire organization, we implemented the Efficiency Management Program. This approach, which streamlines our business processes, supported our margin structure while strengthening our cash generation capacity and liquidity. Optimizing capacity utilization, integrating digitalization and artificial intelligence into our workflows, accelerating our sustainability‑focused transformation, and effectively leveraging the flexibility provided by our geographical diversity were among our key strategic priorities throughout the year. These efforts collectively strengthened our profitability margins and further reinforced the foundation of our balance sheet”.

For Şişecam, 2025 was not only a year of adapting to existing conditions but also a year of transforming its investments to align with the competitive landscape of the future. Without compromising its investment discipline, the Company focused on high value-added products, sustainable production technologies, and strategic projects that enhance its global competitiveness. 

Şişecam’s key initiatives in 2025 were as follows:

• Brought forward the cold repair of its flat glass production facility in Northern Italy, enabling significant cost optimization.
• Commissioned the Tarsus patterned glass furnace and the energy glass processing line as of September 2025.
• Relocated its handmade glass production from Denizli to Kırklareli, integrating traditional craftsmanship with modern, more sustainable and fully integrated production methods.
• Consolidated its encapsulation facilities in Germany and Hungary into its Slovakian facility, achieving notable efficiency gains through streamlined production, enhanced productivity and improved supply chain effectiveness.
• Sustained strong performance at its 2.5‑million‑ton natural soda ash facility in Wyoming, USA, which continues to deliver competitive advantages through its low carbon footprint and cost‑efficient production structure.

Entering 2026 with strong momentum, Şişecam has already taken significant steps this year:

• Initiated test production by firing the furnace at its first glass packaging investment in Europe, located in Hungary.
• Commissioned two new coated glass lines in Bulgaria and Italy, strengthening its footprint in value‑added glass products.
• Completed the greenfield flat glass investment in Tarsus, delivering an annual production capacity of 432,000 tons.
• Secured a financing package from the International Finance Corporation (IFC) to support investment and working capital needs in Türkiye and successfully executed a USD 500 million Eurobond issuance that attracted strong investor interest, generating USD 1.7 billion in demand.
• Transitioned to a new organizational structure by separating sales/marketing and procurement/supply chain functions.

As it continues to create global value in the glass and chemicals industries, Şişecam’s 2026 priorities include increasing the share of high value–added business areas in its portfolio, reinforcing its market presence in strategically selected geographies, and driving sustainable profitability through technology‑enabled efficiency gains and growth into new business domains.