Date: 1 November 2022
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.