Sisecam Reported Investments of TRY 7.1 Billion in the First Half of 2023

Sisecam increased its net sales to TRY 58 Billion in the first half of the year

ISTANBUL, Turkey, Aug. 07, 2023 (GLOBE NEWSWIRE) -- Sisecam is actively pursuing global growth with its production operations spanning 14 countries on four continents and sales in over 150 countries. Sisecam recorded consolidated net sales of TRY 58 Billion (USD 2.9 Billion) in the first half of 2023. The share of Sisecam’s international sales accounted for 64% of its total sales. For the first half of the year, Sisecam posted total investments of TRY 7.1 Billion (USD 357 Million) and The Company’s exports reached USD 560 Million in the same period.

Sisecam announced its financial results for the first half-year of 2023. Sisecam's consolidated net sales totaled TRY 58 Billion (USD 2.9 Billion) in the period. The Company’s international sales – comprising the total of exports made from Türkiye and sales from out of Türkiye production – accounted for 64% of its consolidated sales. Sisecam's total investment in the first half of the year amounted to TRY 7.1 Billion (USD 357 Million). Its exports totaled USD 560 Million. In the first half of the year Sisecam produced 2.5 million tons of glass, 2.3 million tons of soda ash, and 1.8 million tons of industrial raw materials.

Sisecam’s CEO Görkem Elverici made the following statement regarding Sisecam's financial results for the first half-year of 2023: "While the business world continues to struggle with ongoing economic and geopolitical risks on a global scale, Sisecam is forging ahead on its growth journey. We are driven by our ability to adapt swiftly to an ever-evolving market environment along with our transformation efforts and data-driven decision-making approach. Sisecam differentiates from the competition with its use of smart technology and its highly skilled human resources. We are continuously developing by capitalizing on the unique experience we have acquired as a well-established global industrial enterprise of 88 years. We move forward on our development journey with promising investments that support our goal of ranking among the world's top manufacturers in our core business areas.”

Technology-driven growth

Sisecam, conducting its operations spread over a wide geography with a holistic digitalization and operational excellence approach, proceeded with its investment program in the second quarter of 2023.

Having made its first investment outside of Türkiye in Georgia in 1997, Sisecam completed cold repairs on its second glass packaging furnace in the country this year. This EUR 20 Million investment also equipped the furnace with new technologies. The furnace, which was fired in June, expanded the in-country glass production capacity of Sisecam, Georgia's sole glass producer, by 25%. Sisecam's 75,000-ton annual capacity and advanced technology capabilities are aimed at responding more quickly to the glass packaging demands of both Georgia and neighboring countries.