Şişecam recorded a net profit of 5.59 billion TL in the 4th quarter of the year, above the market expectations. The company had a net profit of 4,945 in the same period of last year and 4,801 billion TL in the third quarter of 2022.
Şişecam achieved a net profit of TL 19.345 billion in the whole of 2022. Annual net profit was TL 21,983 billion in 2021.
In the October-December 2022 period, consolidated net sales increased by 163 percent and by 12 percent quarterly, compared to the same period of the previous year, to 29.0 billion TL. For the whole year, the company’s consolidated revenues increased by 197% to 95 billion TL. The chemicals and architectural glass segments continued to be the segments that contributed the most to total revenue in this quarter as well.
In this quarter, a significant decline was observed in the company’s EBITDA, especially due to the increased energy, labor and logistics costs. EBITDA, which was 5,731 billion TL in the previous quarter, realized as 4,631 billion TL in this quarter, exceeding the market expectations. under left. Gross profit margin, which was 39 percent in the third quarter of 2022, decreased by 5.8 percentage points year on year and 9.8 points quarterly, closing the year at 28 percent in the 4Q22 period.
Şişecam’s consolidated net sales in 2022 reached 95.3 billion TL, while exports from Turkey amounted to 1.1 billion dollars. The share of international sales, which represents the sum of exports from Turkey and sales from production outside Turkey, in consolidated sales was at the level of 63 percent.
Şişecam produced 5.8 million tons of glass, 4.9 million tons of soda ash and 4.4 million tons of industrial raw materials throughout 2022.
The amount of ongoing investments amounted to 7 billion dollars. Şişecam reported that the total of natural soda investments and current investments in the USA reached the level of 7 billion dollars, considering the increased investment costs due to the inflationary environment.
The company announced that it aims to activate the glass packaging furnace investment in Eskişehir and the auto glass furnace investment in Lüleburgaz in the first half of 2023.
prof. Dr. Ahmet Kırman stated that Şişecam is walking resolutely towards its goal of becoming one of the world’s top three players in its main fields of activity, and continued his words as follows:
“The year 2022, which was declared the ‘International Year of Glass’ by the United Nations (UN) with the contributions of Şişecam, was a special year for Şişecam. We added value to our stakeholders with our operational and financial results in 2022, thanks to our distinctive capabilities with the use of smart technology, competent human resources and data-based decision-making mechanisms. Our results are important as they once again demonstrate Şişecam’s strong performance under all conditions, its adaptability to changing conditions, and its flexibility. In this sense, we continue to contribute to our investors, especially value, with a long-term perspective, even under difficult conditions, and to make efforts to ensure that they continue their journey with Şişecam while maintaining their trust and belief. Being aware that no sustainable success is dependent on coincidences, we have achieved these results by managing the change with the right decisions thanks to our data-supported predictions and the competencies that our risk perceptions have brought to us in multiple geographies in order to make our achievements sustainable.”
The amount of ongoing investments is 7 billion dollars
prof. Dr. Kırman stated that Şişecam started its investments in 2022 with the acquisition of the Italian refractory manufacturer Refel, in order to guarantee sustainability, and said, “The year 2022 is the year 2022, where we held the groundbreaking ceremony of our Hungarian plant, which is our first investment in glass packaging in Europe. It was an important year when we decided to increase capacity in glass furnace and processing line investments. In 2022, we started the first trials of Basalia technology, which transforms all kinds of waste into harmless substances for a more sustainable world, in our Mersin factory. In Eskişehir, our glass packaging investment, our flat glass investment in the auto glass business line and our flat glass investments in the architectural glass business area continue,” he said.
Noting that the total of natural soda investments and current investments in the USA has reached the level of 7 billion dollars, considering the increased investment costs due to the inflationary environment, Kırman said:
“We will continue to grow rapidly, decisively and selectively in 2023 with our 24 thousand employees and new investments that contribute to our sustainable growth journey. We aim to activate our glass packaging furnace investment in Eskişehir and our Lüleburgaz auto glass furnace investment in the first half of 2023. Each We see the fact that the investment is supported by the R&D approach that we continue to develop as an important differentiation ability at this point.We provide input to different sectors in many geographies with our global focus of excellence and strong production capabilities.We work with all our strength to make our successes sustainable with the strength we derive from our roots, our unique culture and our transformation power. Undoubtedly, we continue our search for new areas based on high-end technologies, in addition to our core business areas. “
Stating that with the completion of the digital transformation, by the end of 2023, Şişecam will become one of the few global institutions with an integrated technology infrastructure that comprehends all operational geographies. Dr. Kırman said, “For our structure that we have prepared for the future by shaping our managerial understanding according to functional functioning simultaneously with digital transformation, we are on the way to complete our transformation by updating our strong cultural values in this period. We carry out all of Şişecam’s activities in line with our goal of creating sustainable value, we constantly observe the harmony of every step we take with the planet, society and life, and we focus on improving it.”