Turkish glass manufacturer Sisecam posted revenue up by nearly a quarter compared to the same period last year in its latest financial report.
It posted revenue in Quarter 1 2021 of TKL 5.7Bn, up by 23% YoY from Quarter 1 2020, while gross profit was gross profit was at TRY 1.9Bn, up by 29% YoY.
Its architectural glass and automotive glass units drove growth, with an increase in revenue of 70% and 35% respectively.
Its Glassware and Glass Packaging units both posted revenue growth of 10% from the same quarter last year.
However, its Glass Packaging unit posted production rates down by 9%YoY at 534K tons while its glassware unit posted a 12% YoY decrease in total sales volume.
The glass manufacturer said of its glass packaging unit: “Weaker sales volume was the result of earlier introduction of pandemic measures and lockdowns in all operating regions and in almost all geographies to which the products are catered.”
Its Glass Packaging business line generated 64% of its revenues from international sales including exports from Turkey, while the remaining 36% was generated from domestic sales.
It said its Glassware unit was overshadowed by pandemic measures which continued to overshadow demand coming from the HORECA channel.