Şişecam announces financial results for 2023

Şişecam announced its inflation-adjusted financial results for 2023. With production activities spanning 14 countries across 4 continents, the company's consolidated net sales reached TRY 152 billion. International sales accounted for 60% of Şişecam's total sales, while investments totaled TRY 21 billion and exports reached TRY 31.7 billion. Şişecam Board Chairman and Executive Member Prof. Dr. Ahmet Kırman stated, "With the capabilities brought by the One Şişecam transformation and our 88 years of experience, we successfully completed a challenging year. In 2024, when nearly half of the global population will go to the polls, compliance with constantly changing regulations across different world regions will gain importance, and high inflation pressure and geopolitical risks are expected to persist—we will continue to grow and develop. By placing artificial intelligence, renewable energy, and sustainability at the center of all our business practices and decision-making processes, we believe we will create a difference through our qualified workforce, solid investments, and smart technology use. We will continue our 88-year development journey while creating value for all our stakeholders," he said. Şişecam, the global player in glass and chemicals sectors, continues its value-creating development journey. With consolidated net sales reaching TRY 152 billion in 2023, exports from Turkey totaled TRY 31.7 billion. International sales, which represent the sum of exports from Turkey and sales from production outside Turkey, accounted for 60% of consolidated sales. Throughout 2023, Şişecam produced 5.2 million tons of glass, 4.7 million tons of soda ash, and 3.7 million tons of industrial raw materials. Şişecam's Board Chairman and Executive Member Prof. Dr. Ahmet Kırman stated: "2023 was a year marked by continued effects of macroeconomic fluctuations and geopolitical risks, with high inflation remaining on the global agenda. Despite all these challenges, thanks to our solid financial structure, strict fiscal policy, prudent and rational decisions, and our productivity-focused development journey, we largely realized the investments we targeted. In 2023, we commissioned Şişecam's first automotive glass float line at Lüleburgaz. Through cold repair investments at our furnaces in Georgia, Egypt, and India, we upgraded their technologies and increased their efficiency and capacity. We reached a partnership agreement with ICRON, a Turkish technology company providing operational and strategic decision optimization services. While gaining new strength and capabilities through our investment decisions, we successfully completed a difficult year with the capabilities brought by the One Şişecam transformation and our 88 years of experience. In 2024, when more than half of the world's population will go to the polls, compliance with regulations will gain importance, and high inflation pressure and geopolitical risks are expected to continue—we will continue our sustainable growth journey through our qualified workforce and smart technology use," he said.

Prof. Dr. Kırman, stating that Şişecam will continue its activities in 2024 with a cautious and solid growth approach, shared the following regarding new year expectations and targets:

"We are steadily progressing toward our goal of being among the world's top three players in our core business areas. In line with our vision of creating sustainable value, we continue without interruption our investments that will support the growth of sectors in which we have contributed. On the one hand, we manage the effects of risks and cyclicality, while on the other hand, we closely monitor opportunities in existing and potential markets. Our greenfield glass container production facility investment with two furnaces in Hungary is underway. Following the new glass container line investment we will realize in Eskişehir, our Eskişehir facility will become the world's largest integrated glass container production point. Our investment in a second frosted glass furnace for energy glass production in Mersin and the energy operating glass line capacity expansion, capacity expansion at our Mersin soda ash facility, the US natural soda ash investment and the Stockton Port operation investment supporting logistics infrastructure, the new flat glass facility in Tarsus OSB, and our strategic mining investments are underway. This year, we also announced our decision regarding a 20 million square meter coated glass line investment that will increase the proportion of high-value-added products in our total production volume and strengthen our competitiveness in world markets. Through these investments we will implement in Turkey, Italy, and Bulgaria, we will nearly double our coated line production capacity. The coming 5 years will be an intensive investment period. We will commission these investments while taking into account the dynamics of the markets where we operate. Our target for 2024 is to increase our workforce of over 24,000 employees by approximately 5%."

Our Focus: Artificial Intelligence

Prof. Dr. Kırman, stating that artificial intelligence, renewable energy, and sustainability are at the center of all Şişecam's business practices and decision-making processes, said: "We are giving serious thought to how we can benefit from technology in every area, how we can most effectively integrate it into our business processes and sustainability goals, and how we can increase efficiency and creativity in this manner. We aim to make artificial intelligence part of all our processes. We are in continuous development in machine learning, digital twins, quality, optimization, and smart manufacturing. As a result of the One Şişecam transformation, we are experiencing and utilizing the advantages of having an infrastructure ready for all these development areas. We have also accelerated our sustainability efforts in line with our goals of leaving a more livable world for future generations and increasing the yield of our business processes. We are transforming all our processes to achieve our 2050 Carbon Neutral target. We are increasing our renewable energy investments. We aim to build wind power plants and invest in solar energy. Our appetite in these areas is high."