In its latest financial report, Şişecam outlined consolidated net sales of 186 billion TL in 2024.

International sales, representing the sum of exports from Türkiye and sales from production facilities outside Türkiye, accounted for 59% of total sales.

Total investment in 2024 reached 30 billion TL, while exports amounted to 962 million USD.

During this period, Şişecam produced 5.6 million tons of glass, 4.6 million tons of soda ash, and 3.8 million tons of industrial raw materials.

Şişecam CEO Görkem Elverici said: "The global economy navigated a complex landscape characterised by inflationary pressures, high interest rates, tight monetary policies, fluctuating energy prices, and geopolitical tensions.

“Low growth in China, delayed recovery from Europe’s energy crisis, and election uncertainty in many countries, especially in the USA, have posed significant challenges.

“Another significant issue putting pressure on export-focused organisations like ours, which operate across multiple geographies, was the misalignment between exchange rates and inflation in Türkiye.”

Consequently, Şişecam has updated its strategy to maintain its competitive edge.

It anticipates that these measures will start delivering positive results from 2025 onward.

Mr Elverici continued: “Given the current low point in the economic cycle, we believe a cautious, yet opportunity-driven approach is essential.

“We are actively managing risks and costs to navigate current challenges, while also working diligently to prepare for an eventual market recovery.”

Investments

In 2024, Şişecam became the sole owner of its natural soda ash investment in the US, the Pacific Project.

In addition, it became the majority shareholder of its operational facility in Wyoming.

The company said it would continue to invest in digitalisation and innovative product development to achieve its growth targets.

This includes its increased stake in the Icron partnership, and its 'Plant of the Future' platform.

2025

Şişecam’s priority for the first half of 2025 is to optimise its cost and expense structure.

Due to the underperformance of its sales in the European flat glass market over the past two years, the company decided to bring forward the cold repair of the furnace at its northern Italy flat glass plant in San Giorgio di Nogaro.

It expects the decision will generate a positive contribution of approximately €8-10 million on the EBIT level.

Mr Elverici said: “In 2025, we will continue to take the necessary steps swiftly and decisively to manage the challenges of the period and create value for our shareholders.

“At the same time, we will not deviate from our long-term strong growth targets and will continue to take measured, realistic, and determined steps towards our goals."