Sisecam Group announces Q1 2018 financial results

Sisecam Group reported consolidated net sales of TRY 3.1 billion and a net profit of TRY 569 million in the first quarter ended 31 March 2018. The Group's consolidated EBITDA reached TRY 907 million for the same period.

Sisecam Group, a global actor in business fields including all main areas of the glass industry – flat glass, glassware, glass packaging and glass fiber – as well as soda and chromium chemicals, increased its total consolidated net sales by 17.7% year-over-year in the first three months of 2018, reaching TRY 3.1 billion. The Group reported a net profit of TL 569 million for the same period.

Sisecam, a group with manufacturing activities in 13 countries in three continents and sales in all over the world, produced 1.2 million tons of glass, 600,000 tons of soda and 900,000 tons of industrial raw materials in the first quarter ended 31 March 2018.

"In the first quarter, our consolidated net sales have reached TRY 3.1 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 TRY 1.8 billion. Thanks to ongoing efforts to optimize the cost structure and the geographical distribution of production activities, consolidated EBITDA reached TRY 907 million in the same period,” Prof. Ahmet Kirman, Vice Chairman and Chief Executive Officer, said.

Sisecam Group reported total investments of TRY 300 million and continued to support the national economy with an export volume of USD 190 million in the first quarter of 2018. "Our goal is to further strengthen our financial structure to maintain the continuity of the Group's steady growth line and to support our growth in the upcoming periods. While continuing to increase the speed of our efforts to optimize our production facilities, we will continue to optimize our costs using all efficient methods, including increased use of automated systems. We are constantly realizing our evaluations of policies to be followed in the direction of our objectives of sustainable profitable growth and operational excellence, taking into consideration the conditions of the global economy," Kirman noted. 

One of the most established enterprises in Turkey, Sisecam Group is a global actor in business fields including all main areas of glass industry, i.e. flat glass, glassware, glass packaging and glass fiber, as well as soda and chromium chemicals. Today Sisecam, the world’s leading supplier of chromium compounds and the 10th largest soda ash producer in the world, is the 3rd largest glassware, the 5th largest glass packaging and flat glass manufacturer globally.

The Group, which has 42 production facilities in total, has manufacturing activities in Turkey, Germany, Italy, Bulgaria, Romania, Slovakia, Hungary, Bosnia-Herzegovina, the Russian Federation, Georgia, Ukraine, Egypt and India. With its 82 years of experience, over 21,000 employees, production in 13 countries, and sales in more than 150 countries, Sisecam is a group at international scale and continues on its journey to become one of top three global producers in its all-main business fields.