Şişecam Holds 87th Ordinary General Assembly Meeting

Şişecam Holds 87th Ordinary General Assembly Şişecam's 87th Ordinary General Assembly took place on 29 March with the participation of Şişecam Board Chairman and Authorized Member Prof. Dr. Ahmet Kırman, Şişecam General Manager Görkem Elverici, Şişecam senior management and shareholders. The meeting covered Şişecam's financial and operational achievements in 2022, a year marked by global volatility. Şişecam gathered with investors at its 87th Ordinary General Assembly to share its successful financial and operational performance in 2022, a year marked by global volatility that defied the spirit of the period. Held on 29 March 2023 with the participation of Şişecam Board Chairman and Authorized Member Prof. Dr. Ahmet Kırman and Şişecam General Manager Görkem Elverici, the meeting also presented to shareholders the 2022 Activity Report titled "In Pursuit of the Future," which outlines Şişecam's value-creating activities and sustainable vision for the future. Şişecam General Manager Görkem Elverici made the following remarks on the occasion of the General Assembly: "The world has been experiencing sudden and fundamental changes over the past few years that have deeply affected all our lives. With impacts such as falling demand, rising costs and disrupted supply chains, the global economy lacks the momentum for growth at its former pace. Şişecam, which manages production activities spanning 4 continents across 14 countries using a 'think global, act local' approach, continues its growth journey through rational decisions. Despite changing dynamics, we are moving steadily toward our targets." Görkem Elverici continued his remarks as follows: "Şişecam, which never loses touch with local conditions while implementing global strategies, manages its operations in each geography where it operates while taking into account regional risks and needs. The company draws its agility and ability to adapt to the world's new structure particularly from its investments in data and digitalization. As we move toward our collective vision with collective wisdom and expand our global footprint, we are nourished by cross-cultural interaction. Scenario-based strategy development and implementation capabilities rank among the important levers of Şişecam's success. Operating in line with its 'CareforNext' sustainability strategy and its three main focuses—'Protecting the Planet,' 'Empowering Communities' and 'Transforming Lives'—Şişecam places science and technology at the center of its development. It is conducting intensive R&D work with all its strength to serve a vision of a better world."

Among the world's institutions with the most integrated digital infrastructure

  Görkem Elverici highlighted the competencies supporting Şişecam's strong performance, which achieved uninterrupted growth in a challenging atmosphere despite global uncertainties, with the following remarks: "For companies to achieve success without deviating from their targets during periods of severe global crisis, two critical capabilities stand out: foresight and agility. Şişecam successfully navigated a challenging year by managing its production activities spread across multiple geographies through proactive and rational decisions. The transformation journey we have undertaken, drawing strength from our roots as we move toward the future, has strengthened the capabilities we have gained. Today we rank among the world's institutions with the most integrated digital infrastructure. Our investments in digitalization and smart technologies enabled us to respond rapidly to our markets' needs in global commerce, which became even more difficult in 2022. We successfully managed the balance between production, sales and inventory through effective customer management, optimized sales and operations planning, and with the support of digital projects. We expect to complete our large-scale and comprehensive transformation project, which spans every aspect and geography from our digital infrastructure to our corporate culture, by the end of 2024. We continue our investments in sectors that promise growth and that we support in their development." Noting that Şişecam's investment plans are advancing with steps that protect shareholders' interests and support profitability, Görkem Elverici continued his remarks as follows: "We continued to create value for all our stakeholders, including our investors, throughout the year. While the Borsa Istanbul 100 closed the year with a value increase of 197%, Şişecam shares, which ranged from a low of TRY 11.51 to a high of TRY 43.04 during the year, achieved a gain of 227% on an annual basis. The positive demand recorded in our main business sectors, our access to global markets, our balanced operational portfolio structure, our strong balance sheet, our new investment decisions and our management approach that supports the strengthening of stakeholder value were effective in our shares' outperformance relative to the Index. During the same period, the BIST-30 Index gained 194%, while the BIST Industrial and BIST Holding Indices gained 162% and 217%, respectively. Our share continues to deliver outperformance against indices in 2023. Despite our capital-intensive structure, we have not compromised on our dividend policy, we have conducted share buybacks, we continue our new growth investments and we are advancing our operational performance." he said.