Şişecam Announces First Half 2023 Financial Results

Şişecam disclosed its financial results for the first half of 2023. The company's consolidated net sales reached TRY 58 billion (USD 2.9 billion) during this period, while international sales—comprising exports from Turkey and sales from production outside Turkey—accounted for 64% of consolidated sales. In the first half of the year, Şişecam's total investments reached TRY 7.1 billion (USD 357 million) and exports reached USD 560 million. During this period, the company produced 2.5 million tonnes of glass, 2.3 million tonnes of soda ash and 1.8 million tonnes of industrial raw materials.

Şişecam Chief Executive Officer Görkem Elverici commented on the subject as follows;

"As the business world continues to tackle ongoing economic and geopolitical risks on a global scale, Şişecam pursues its growth journey with the strength it draws from its ability to rapidly adapt to the spirit of the times and the demands of the age, through transformation and data-driven decision-making. We differentiate ourselves through our use of smart technology and capable human resources, and as a long-established global industrial company with 88 years of history, we blend the unique experiences we have gained with innovation. We continue our development journey with investments that support our goal of becoming one of the world's top 3 producers in our core business areas."

Technology-focused growth drive

Managing its geographically dispersed operations through a holistic digitalization and operational excellence approach, Şişecam continued its investment initiatives in the second quarter of 2023. Having made its first investment outside Turkey in Georgia in 1997, Şişecam underwent cold repair on its second glass packaging furnace in the country with an investment of approximately EUR 20 million, supported by new technologies. With the furnace commissioned in June, Şişecam's glass production capacity in Georgia, where it is the country's sole glass producer, increased by 25%. The achieved annual production capacity of 75,000 tonnes and technological capabilities aim to respond faster to glass packaging demands in both Georgia and neighbouring countries.

Significant commitment to sustainability

Viewing sustainability as a core element of its business model, Şişecam continues to take important steps to protect the planet, strengthen society and transform lives. In June, Şişecam signed the Women's Empowerment Principles (WEPs) of the United Nations, aimed at ensuring women's participation in economic life across all sectors and at every level.