Şişecam Group Announces Q3 2016 Results

In the first nine months of 2016, Şişecam Group's net sales exceeded TL 6 billion with an 11.5% increase year-over-year, and the Group reported a net profit of TL 638.4 million for the same period.

Şişecam Group, a global actor in business fields including all main areas of glass industry -flat glass, glassware, glass packaging and glass fiber- as well as soda and chromium chemicals increased its total consolidated net sales revenue by 11.5% year-over-year in the first nine months of 2016, exceeding TL 6 billion. The Group reported a net profit of TL 638.4 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 3.3 million tons of glass, more than 1.6 million tons of soda and more than 2.7 million tons of industrial raw materials.

International sales volume reached USD 1.1 billion

"In the first nine months of 2016, our consolidated net sales have surpassed TL 6 billion. The share of our international sales representing the total amount of exports from Turkey and sales from overseas production is 52% in our consolidated sales.

During the same period, international sales volume reached USD 1.1 billion. Thanks to ongoing efforts to optimize the cost structure and the geographical distribution of production activities, consolidated EBITDA reached TL 1.4 billion in the same period,” Prof. Ahmet Kırman, Vice Chairman and Chief Executive Officer, said.

Şişecam Group reported total investments of TL 800 million and continued to support the national economy with an export volume of USD 508 million in the first nine months of 2016.

"Our aim is to further strengthen our financial structure by focusing on sustainability in such a way as to support our growth potential in the near future. Efforts to optimize production facilities and the cost structure will continue at an increasing pace, with a special emphasis on increased use of automated systems," Kırman noted.