Sisecam's net sales in the first quarter reach TL 1.9 billion with a 15% increase

Sisecam Group's net sales in the first quarter of 2016 reached TL 1.9 billion with a 15% increase year-over-year, and the Group reported net profit of TL 161 million.  

Şişecam Group, 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 increased its total consolidated net sales revenue by 15% year-over-year in 2016 Q1, reaching TL 1.9 billion.

The Group reported a net profit of TL 161 million for the same period.

In the same period, Şişecam, a group with manufacturing activities in 13 countries in three continents and sales in all over the world, produced more than 1 million tons of glass, 556,000 tons of soda and 893,000 tons of industrial raw materials.

16% increase in EBITDA

"In the first quarter of 2016, our consolidated net sales have reached around TL 1.9 billion. The share of our international sales representing the total amount of exports from Turkey and sales from overseas production is 51% in our consolidated sales. As a result of the increasing capacity utilization rates of the production facilities that were gradually launched the past year, our consolidated EBITDA volume exceeded TL 431 million, increasing 16% compared to the same quarter of the previous year,” Prof. Ahmet Kırman, Vice Chairman and Chief Executive Officer, said.

“In the first quarter of 2016, we mainly focused on optimizing the geographical distribution of the production facilities, efficiently managing our costs and ensuring sustainable operational excellence, and thus aimed to minimize the impact of the negative developments in the world and in the region where we carry out our activities," Kırman said.

Şişecam Group reported total investments of TL 253 million and the Group’s international sales reached approximately USD 322 million in the first quarter of 2016. "Our aim is to further strengthen our financial structure so that the Group continues to grow consistently in the future," 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 4th largest glass packaging and the 5th largest flat glass manufacturer globally.

The Group, which has 44 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 80 years of experience, over 21,000 employees, production in 13 countries, and sales in as many as 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.repor

600450 Sisecam's net sales in the first quarter reach TL 1.9 billion with a 15% increase glassonweb.com
Date: 30 May 2016
Source: www.sisecam.com

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