Sisecam announced its financial results adjusted according to inflation accounting for 2023. The global giant, with production activities spread across 14 countries on four continents recorded TRY 152 billion of consolidated net sales for the previous year. International sales accounted for 60% of Sisecam's total sales. Sisecam reported total investments of TRY 21 billion and exports of TRY 31.7 billion.
Sisecam Chairman and Executive Member of the Board of Directors Prof. Dr. Ahmet Kirman stated, "We successfully closed a challenging year thanks to our competencies acquired through the One Sisecam transformation and our 88 years of industry experience. In 2024, Sisecam plans to further grow and develop. This year, almost half of the global population will go to the polls. Compliance with constantly changing regulations will gain importance. High inflationary pressure and geopolitical risks are expected to persist throughout the year. At Sisecam, we believe that we will make a difference thanks to our well-qualified human resources, solid investments, and use of smart technology. Sisecam aims to focus on artificial intelligence, renewable energy, and its sustainability approach across all its business operations and decision-making processes."
ISTANBUL, Türkiye, March 06, 2024 (GLOBE NEWSWIRE) -- Sisecam, a global player in the glass and chemicals industries, is moving forward on its growth journey that creates sustainable value. Sisecam announced its financial results for 2023, reporting consolidated net sales of TRY 152 billion and total exports (from Türkiye) of TRY 31.7 billion. International sales - the sum of exports from Türkiye and sales from production outside Türkiye - accounted for 60% of Sisecam's consolidated sales for the year. The company produced 5.2 million tons of glass, 4.7 million tons of soda ash, and 3.7 million tons of industrial raw materials in 2023.
Sisecam Chairman and Executive Member of the Board of Directors Prof. Dr. Ahmet Kirman stated, "In 2023, the effects of macroeconomic volatility and geopolitical risks continued. High inflation remained on the global agenda. Despite these challenges, Sisecam continued to realize its investments in 2023 thanks to its solid financial structure, robust financial policy, strategic decisions, and efficiency-oriented production. In 2023, we ignited Sisecam's first auto glass-dedicated float line in Lüleburgaz. We made cold repair investments in our furnaces in Georgia, Egypt, and India to modernize their technologies and boost their efficiency. We became a partner in ICRON, a Turkish technology company that provides operational and strategic decision optimization services. Our investment decisions gave Sisecam new strengths and capabilities. This in turn helped us successfully close a challenging year thanks to our competencies gained through One Sisecam transformation and our 88 years of industry experience. In 2024, more than half of the world's population will go to the polls. Compliance with ever-changing regulations will gain importance. High inflationary pressure and geopolitical risks are expected to persist. But Sisecam will move forward on its sustainable growth journey thanks to its well-qualified human resources and use of smart technology."
We closely monitor opportunities in existing and prospective markets
Highlighting Sisecam's commitment to a steady and robust growth strategy in 2024, Prof. Dr. Kirman outlined the company's expectations and goals for the upcoming year Prof. Dr. Kirman continued as follows: "We are moving forward with determination towards our goal of ranking in the global top three in our main fields of activity. In line with our vision of creating sustainable value, Sisecam continues to invest in initiatives that bolster the growth of industries benefiting from its contributions. We not only effectively manage the impacts of risks and seasonality but also closely monitor opportunities in existing and prospective markets. Sisecam's investment in a two-furnace greenfield glass packaging production facility is currently underway in Hungary. Our new glass packaging furnace investment in Eskisehir will make the Eskisehir facility the largest glass packaging production site in the world. Sisecam is constructing a second frosted glass furnace that will produce energy glass in Mersin. Sisecam is also implementing a capacity increase at its Mersin soda ash facility; moving forward with its US natural soda ash and the Stockton Port Management project investments that will also support the logistics infrastructure. Construction of a new flat glass facility in the Tarsus OIZ is also ongoing. This year, we have announced our decision to invest in 20 million square meters of coated glass production lines to increase the share of value-added products in our total production volume and enhance our competitiveness in global markets. With these investments to be implemented in Turkey, Italy, and Bulgaria, we will almost double our coated glass production capacity. The next five years will be an intensive investment period for Sisecam. We will implement our investments by taking into account evolving market dynamics. We aim to expand our workforce, which now exceeds 24,000 persons, by around 5% in 2024."
We are focusing on artificial intelligence, energy investments and sustainability
Prof. Dr. Kirman indicated that all of Sisecam's business operations and decision-making processes are centered around artificial intelligence, renewable energy, and sustainability: "We are seriously planning on how we can benefit from technology in every field, how we can integrate it into our business processes and sustainability goals in the most effective way, and how we can boost efficiency and creativity. We aim to integrate artificial intelligence across all our operations. At Sisecam, we are in a constant state of evolution in machine learning, digital twins, quality, optimization, and smart manufacturing. One Sisecam transformation prepared us to benefit from and make use of the advantages of having an infrastructure ready for all these development areas. Sisecam has also accelerated its sustainability efforts in line with its goals of leaving a more livable world to future generations and boosting the efficiency of its business processes. We are transforming all our operations to achieve our Carbon Neutral 2050 goal. We are ramping up our renewable energy investments. We aim to establish wind power plants and invest in solar energy. We have a strong interest in these key areas."
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