Şişecam Invests TRY 1.2 Billion in First Quarter

Şişecam Invests TRY 1.2 Billion in First Quarter Şişecam, a global player with production operations spanning 14 countries across four continents and sales to over 150 countries, achieved consolidated net sales of TRY 17 billion in the January-March period of 2022. International sales accounted for 66% of the company's total sales in this period, while Şişecam's total investments in the first quarter of the year reached TRY 1.2 billion, with exports of USD 240 million. Şişecam General Manager Görkem Elverici: "In the first quarter of 2022, the world faced an atmosphere filled with economic and geopolitical risks, high inflation and supply chain-related problems felt deeply on a global scale, and considerable uncertainty. Şişecam, a strong global player in the glass and chemicals sectors, continued its growth journey uninterrupted through advanced risk management capabilities, sound investment decisions, collaborative approaches, and transformation projects implemented with common purpose. In the coming period, we will continue to manage our operations using proactive practices, strong competencies and reflexes, make necessary updates to our business processes and plans, and create value for all our stakeholders," he said.

Şişecam's consolidated net sales for the January-March 2022 period reached TRY 17 billion

Şişecam's consolidated net sales for the January-March 2022 period reached TRY 17 billion, while international sales—comprising exports from Turkey and sales from overseas production—accounted for 66% of consolidated sales. In the first quarter, Şişecam produced 1.4 million tonnes of glass, 1.2 million tonnes of soda ash, and approximately 1 million tonnes of industrial raw materials. With flexible practices and deep governance experience, Şişecam achieved a strong first quarter financial performance amid ongoing global economic and geopolitical uncertainty, surpassing the same period of the previous year. Commenting on Şişecam's 2022 first quarter results, Şişecam General Manager Görkem Elverici stated: "The first quarter of 2022 was a period in which the world faced economic and geopolitical risks, high inflation and supply chain-related problems felt deeply on a global scale, and considerable uncertainty. Şişecam, a strong global player in the glass and chemicals sectors, continued its growth journey uninterrupted during this challenging period through advanced risk management capabilities, sound investment decisions and transformation projects implemented with collaborative approach. Conducting operations with the aim of being among the world's top three players in its main business areas, Şişecam achieved revenues of TRY 17 billion in the first three months of 2022. In the coming period, we will continue to manage our operations using proactive practices and strong competencies and reflexes, make necessary updates to our business processes and plans, and create value for all our stakeholders," he said. Commenting on the significant investments and standout projects implemented by Şişecam in the first quarter of 2022, Elverici stated: "Like in every period, in the first quarter of 2022, Şişecam pursued its growth initiatives through a comprehensive development approach, continuing uninterrupted activities in supply, growth and sustainability objectives for our planet. Şişecam, which daily reaffirms its position as a global, technological and forward-looking leading company through operations that respect nature and society, sustainable value-creating practices, investments and value-added products, completed a major acquisition in Italy at the beginning of 2022. To manage risks that could arise from global disruptions in supply chains and to ensure sustainability in its investments, Şişecam acquired Italian refractory manufacturer Refel, one of the world's leading refractory producers. Through this investment in refractories—which plays a critical role in new furnace investments in the glass sector and planned implementation of cold repair processes—Şişecam will both strengthen its strategic position in European and global glass markets and become an important player in the growing refractory sector. Our steps toward sustainability in raw material sourcing and production, along with our strategic investments, will continue in the same manner in the coming period," he said.