Şişecam Group Announces Q3 2017 Results

Şişecam Group reported consolidated net sales of TL 8 billion and a net profit of TL 1.2 billion in the first nine months of 2017. The Group's consolidated EBITDA reached TL 2.2 billion 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 32.2% year-over-year in the first nine months of 2017, reaching TL 8 billion. The Group reported a net profit of TL 1.2 billion 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 3.6 million tons of glass, 1.7 million tons of soda and 2.7 million tons of industrial raw materials.

The share of international sales is 58% 

"In the first nine months of 2017, our consolidated net sales have reached TL 8 billion. The share of our international sales representing the total amount of exports from Turkey and sales from overseas production is 58% in our consolidated sales. During the same period, international sales volume reached TL 4.6 billion. Thanks to ongoing efforts to optimize the cost structure and the geographical distribution of production activities, consolidated EBITDA reached TL 2.2 billion in the same period,” Prof. Ahmet Kırman, Vice Chairman and Chief Executive Officer, said.

Şişecam Group reported total investments of TL 556 million and continued to support the national economy with an export volume of USD 489 million in the first nine months of 2017.

"Our aim is to further strengthen the Group’s financial structure by focusing on sustainable growth and operational excellence. 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 explained.