Şişecammet with its investors at the 2022th Ordinary General Assembly Meeting to share its successful financial and operational performance that challenged the spirit of the period in 87, a year of global fluctuations. On March 29, 2023, Şişecam Chairman and Executive Member Prof. Dr. Ahmet Kirman ve Şişecam General Manager Gorkem ElvericiAt the meeting held with the participation of , Şişecam's 2022 Annual Report titled "Pursuing the Future", which reveals its value-creating activities and sustainable future vision, was shared with the shareholders.
In his statement on the occasion of the General Assembly, Şişecam General Manager Görkem Elverici said, “The world has been witnessing sudden and radical changes that have deeply affected all of our lives in the last few years. Due to effects such as falling demand, increasing costs, and disrupted supply chain, the global economy is not able to grow at its previous pace. Şişecam, which manages its production activities spread over a wide geography covering 4 countries on 14 continents with the 'think globally / act locally' approach, continues its growth journey with its rational decisions. "Despite the changing dynamics, we are taking firm steps towards our goals," he said.
Görkem Elverici continued his statement as follows: “Sisecam, which never takes its finger off the local pulse while implementing its global strategies, manages its operations in every geography it operates by taking into account the risks and needs of the region. It derives its agility and ability to adapt to the new structure of the world from its investments based on data and digitalization. As we walk towards our common vision with common sense and expand our global footprint, we are nourished by intercultural interaction. Scenario-based strategy formulation and implementation capabilities are among the important levers of Şişecam's success. 'CareforNextŞişecam, which acts in line with the main focuses of 'Protecting the Planet', 'Strengthening Society' and 'Transforming Life' in line with its sustainability strategy, keeps science and technology at the center of its development. "It carries out intensive R&D studies with all its strength to serve the vision of a better world."
One of the Institutions with the World's Most Integrated Digital Infrastructure
Görkem Elverici drew attention to the competencies that support the strong performance of Şişecam, which managed to grow uninterruptedly in a challenging atmosphere despite global uncertainties, with the following words: “Two critical competencies stand out for companies to achieve success without deviating from their goals during global crisis periods that witness harsh struggles; foresight and agility. Şişecam successfully completed a challenging year by managing its production activities spread across multiple geographies with proactive and rational decisions. Our muscles, which we have strengthened through our transformation journey that draws strength from our roots and spreads our wings towards the future, have given us many competencies. Today, we are among the institutions with the most integrated digital infrastructure in the world. Our investments in digitalization and smart technologies enabled us to quickly respond to the needs of our markets in global trade, which will become even more difficult in 2022. By carrying out effective customer management, optimized sales and operations planning, we managed to successfully manage the production, sales and stock balance with the support of digital projects. We anticipate completing our large and comprehensive transformation project, covering every area and geography from our digital infrastructures to our company culture, by the end of 2024. “We continue our investments that promise growth and support the development of the sectors to which we provide input.”
Stating that Şişecam is taking steps in its investment plans that take into account the interests of shareholders and support profitability, Görkem Elverici continued his statement as follows: “We continued to create value for our investors, as well as for all our stakeholders, throughout the year. While Borsa Istanbul 100 completed the year with a 197 percent increase in value, the value gain of Şişecam shares, which saw the lowest level of 11,51 TL and the highest level of 43,04 TL during the year, was 227 percent on an annual basis. The positive demand recorded in our main operating sectors, our access to global markets, our balanced activity portfolio structure, our strong balance sheet, our new investment decisions and our management approach that supports the strengthening of stakeholder value were effective in the above-Index performance of Şişecam stocks. In the same period, the increase in value recorded in the BIST-30 Index was 194 percent, while the BIST Industrial and BIST Holding Indices gained 162 percent and 217 percent, respectively. Our stock continues to outperform the indices in 2023. Despite our capital-intensive structure, we do not compromise on our dividend policy, repurchase shares, continue new growth investments and move our operational performance forward.”
Şişecam in figures at the end of 2022
- It produced 5,8 million tons of glass, 4,9 million tons of soda ash and 4,4 million tons of industrial raw materials.
- As of the end of the activity period, consolidated net sales increased to 95,3 Billion TL (5,8 Billion dollars).
- It made a total investment of 7,8 Billion TL (470 Million dollars).
- It made a net profit of 20,1 Billion TL (1,2 Billion dollars).
- The share of international sales in total sales was 63 percent.
Şişecam's Value Creating Investments
- Acquired Italian refractory manufacturer Refel.
- The groundbreaking ceremony of the Hungary facility, Şişecam's first investment in the field of glass packaging in Europe, was held.
- It announced that it will invest in an additional frosted glass furnace and operating line in Mersin. He announced that the ongoing investment will increase capacity before the end of the year.
- Eskişehir glass packaging furnace investment will be commissioned in 2023, and Lüleburgaz auto glass furnace investment will be commissioned in the first half of the year.
About Şişecam
Şişecam, whose foundations were laid in 1935 with the aim of establishing the Turkish glass industry in line with the vision of the Great Leader Mustafa Kemal Atatürk, respected by the whole world, is today a strong global player in the field of glass and chemicals. Şişecam, the only global company operating in all basic areas of glass such as flat glass, glassware, glass packaging and glass fiber, is among the two largest global manufacturers in the field of glassware and among the five largest global manufacturers in the fields of glass packaging and flat glass. In addition to being among the world's three largest soda ash producers, Şişecam is the world leader in chromium chemicals.
Taking a leading role in flat glass, glassware, glass packaging, chemicals, automotive, glass fiber, mining, energy and recycling business lines, Şişecam carries out its production activities in Turkey as well as in Germany, Italy, Bulgaria, Romania, Slovakia, Hungary, It operates in Bosnia and Herzegovina, Russian Federation, Georgia, Ukraine, Egypt, India and the USA.
Şişecam, which is taking strong steps towards its goal of becoming one of the world's top 3 manufacturers in its main fields of activity with its competent human resources and smart technologies, continues to transform its digital infrastructure and culture, taking into account the needs of tomorrow. With 88 years of experience, more than 24 thousand employees, production activities spanning 14 countries on four continents, and a sales network exceeding 150 countries, Şişecam continues its growth journey in line with its "Global Excellence" strategy and with an inclusive approach that supports the development of its entire ecosystem. Şişecam takes responsibility for protecting the planet, strengthening society and transforming life with its CareForNext strategy, which it has implemented in line with and integrated with the United Nations Sustainable Development Goals, and uses all its experience and competencies for sustainable development in every field.
Source: HORECA Trend and Şişecam