Sisecam’s architectural glass output was 710K tons in the third quarter this year - an 8% growth year-on -year.

Its Turkey-based operations contributed 63% of its flat glass output while facilities located in the EU region accounted for 21% of the consolidated production volume.

The remaining balance was composed of Russian and Indian operations.

The Turkish-headquartered manufacturer of glass and raw materials said the initiation of monetary easing may signal the potential for economic recovery; however, there has been no substantial improvement in demand across all major client industries yet.

As a result its Architectural Glass sales volume increased by 2% YoY. It highlighted that quarter three, 2023 was a high baseline for comparison, as it followed a subdued Half 1 2023 due to the earthquake and election uncertainties in Turkey.

In addition to that, the decline in demand, driven by strict monetary policies, has slowed economic activity in key customer sectors, particularly in construction and furniture.

Nevertheless, domestic sales remained resilient, indicating a 2% annual decrease in volume, supported by rapid re-urbanisation efforts in earthquake-affected areas and an increased focus on building renovation.

On the export side, annual volume growth reached 18%, primarily driven by a proactive strategy for accessing to as well as establishing presence in new markets, along with steady customer acquisitions in both North and South America.

Consequently, Turkey, the largest contributor to the consolidated sales volume with 60% share (vs. 61% in Q3'23), recorded a flat volume YoY.

Despite the initiation of the first phase of monetary easing in the region, volume sales from European operations declined by 12% YoY, attributed to the lack of fundamental improvement in consumption during the quarter.

The share of the continent in consolidated sales volume was recorded at 21% (vs. 24% in Q3'23).

The operations in India and Russia recorded a 33% YoY increase in combined sales volume, primarily thanks to the low base of India given the cold repair process in 2023 and the healthy demand in Russia.

As a result, these two regions contributed 20% (vs. 15% in Q3’23) to the consolidated sales volume of the Architectural Glass division.