Şişecam Reports Rise in Investments and Net Sales in First Nine Months

Şişecam Posts Rise in First-Nine-Month Investments and Net Sales Şişecam, a global player with manufacturing operations spanning 14 countries across four continents and sales to over 150 countries, achieved consolidated net sales of TRY 21 billion in the January-September period of 2021. The company's total investments during this period reached TRY 1.3 billion. Şişecam's consolidated net sales for the January-September 2021 period reached TRY 21 billion, while investments made during the same period materialized at TRY 1.3 billion. During the first nine months of the year, Şişecam produced 4 million tons of glass, and during this period, it produced 2 million tons of soda and 3 million tons of industrial raw materials. Şişecam Chief Executive Officer Görkem Elverici, in a statement regarding the financial results for the January-September 2021 period, noted that Şişecam continued to create sustainable value for its entire ecosystem during the January-September 2021 period, when exceptional conditions prevailed due to the effects of the global pandemic and an environment of uncertainty persisted, stating: "During the January-September period of the year, our consolidated net sales reached TRY 21 billion, and we continued to contribute to both the country's economy and the growth of the locomotive sectors we supply with our products, investments and employment. In the period ahead, when uncertainty remains regarding the extent to which the global pandemic's effects will reach, we will manage our operations by utilizing our strong capabilities and reflexes, and we will continue to create value for all our stakeholders by making necessary updates to our business processes and plans." Noting that Şişecam, founder of the Turkish glass industry, will support the growth of sectors to which it provides input for all stakeholders and will accelerate and continue investments that reached TRY 1.3 billion in the January-September 2021 period, Elverici continued: "Despite the uncertainty created by the global pandemic and exceptional conditions in the past period, we continued our investments without interruption as part of our priority to meet Turkey's glass demand and create value for its economy. In the period ahead, we will continue our investments with the same approach, and through correct moves in the right areas, we will continue to expand our company's global footprint through Turkey. In this context, in line with our goal of meeting rapidly rising glass demand in Turkey and creating sustainable value for all stakeholders, it has been decided to make two new flat glass line investments exceeding TRY 4 billion for architectural glass and automotive glass needs, and with these investments, it is targeted to increase Turkey's current annual flat glass production capacity by 30 percent, raising it to 2.6 million tons." Noting that Şişecam had the opportunity to achieve successful results from the transformation projects, digitalization applications and strategic decisions it implemented during a period when business practices have changed significantly due to the effects of the global pandemic, Elverici stated: "The global pandemic, with the difficulties it brought, offered an important opportunity for all institutions to test their decisions and implementations and to update themselves according to new conditions. The successful projects we presented in our digitalization journey and the capabilities we developed played a critical role in managing this process. Additionally, our positioning in our manufacturing operations spanning four continents and 14 countries enabled us to mitigate the negative effects of the disrupted supply chain much more easily. In the period ahead, we are firmly committed to continuing to increase the economic value we create and our global competitiveness through investments and projects that will prepare Şişecam for the future."