In Pursuit of the Future

TÜRKİYE ŞİŞE VE CAM FABRİKALARI A.Ş.
ANNUAL REPORT 2022

Şişecam Chairman & Executive Member of the Board
Prof. Dr. Ahmet Kırman’s Assessment of the Year 2022

Investment in people – our most valuable asset

Our people-oriented culture and “people first” philosophy is at the center of our global growth strategy. We shape the future with people, labor, ideas, technology, and shared wisdom.

In light of our strong corporate culture and values, we move toward our common goals with tens of thousands of employees as one heart.

24
Thousand +
EMPLOYEES
5,781
Thousand Tons
TOTAL GLASS PRODUCTION

Achieving growth with strategic moves

We are committed to achieving our objectives via effective management based on shared wisdom. We move forward toward the future with bold and confident steps. We are executing our investment plans without interruption. With our efficiency, cost control, quality and customer focus, as well as our ability to anticipate risks and adapt to change, Şişecam records steady global growth.

TRY
95,349
million
SALES REVENUE
TRY
7,778
million
INVESTMENTS

Ready for the future thanks to our holistic transformation

We are in a comprehensive transformation process to move our 87 years of experience forward into the future. We see transformation as one of the main elements of development and know that the key to success is continuous development. We differentiate with the use of smart technologies and our competent human resources. We are developing further by transforming our digital infrastructure and corporate culture, taking into account the needs of tomorrow.

TRY
521
million
DIGITAL TRANSFORMATION
INVESTMENTS REALIZED OVER THE
LAST 3 YEARS

Innovation approach based on logic and science

Our success is based on science-based growth. We move forward guided by logic and science. We contribute to the development of many different sectors with our products and production technologies at Şişecam Science, Technology and Design Center. We strive to produce solutions for today’s needs as well as those of tomorrow.

TRY
271
million
R&D INVESTMENT SPENDING REALIZED
IN THE LAST 3 YEARS

Şişecam at a Glance

87 years of experience, global vision

As the pioneer of the glass industry in Türkiye, Şişecam manufactures products that reach millions of people in over 150 countries at year-end 2022.

Şişecam
Flat Glass
Şişecam
Glassware
Şişecam
Glass Packaging
Şişecam
Chemicals
Şişecam
Automotive

Şişecam Flat Glass

Production of architectural glass (flat glass, patterned glass, mirror, laminated glass, coated glass, solar power glass, and white goods glass)

5th in the world and 2nd in Europe

PRODUCTION FACILITIES

  • Kırklareli Plant Branch
  • Mersin Plant Branch
  • Bursa Plant Branch
  • Ankara Plant Branch
  • Trakya Glass Bulgaria EAD - Bulgaria
  • Sisecam Flat Glass Italy S.R.L. - Italy Sisecam
  • Flat Glass South Italy S.R.L. - Italy Trakya
  • Glass Rus AO - Russia
  • Sisecam Flat Glass India Pvt. Limited - India
  • Saint Gobain Glass Egypt S.A.E. - Egypt
INSTALLED CAPACITY
3.5 million tons/year flat glass
INDUSTRY SCOPE
Construction, furniture, automotive, solar energy and home appliances
TOTAL ANNUAL PRODUCTION
3 million tons of flat glass + patterned glass

Şişecam Glassware

Production of soda, crystalline (lead-free crystal), automatic and hand-made glassware from heat-resistant borosilicate glass, paper cardboard packaging, and retail merchandising

2nd in the world and Europe

PRODUCTION FACILITIES

  • Kırklareli Plant Branch
  • Eskişehir Plant Branch
  • Denizli Plant Branch
  • Camiş Ambalaj Sanayi A.Ş. Tuzla Plant
  • Paşabahçe Bulgaria EAD - Bulgaria OOO
  • Posuda Limited - Russia Paşabahçe Egypt
  • Glass Manufacturing S.A.E. - Egypt
INSTALLED CAPACITY
565 thousand tons/year
RETAIL STORES
45 franchises in Türkiye, 2 franchises globally, and 1 online store
RELATED SECTORS
Retail, HoReCa (Hotels, Restaurants & Cafes), B2B (Industry, Promotion, Decoration)
TOTAL ANNUAL PRODUCTION
364 thousand tons

Şişecam Glass Packaging

Production of glass packaging in various volumes and colors for the food, beverage, pharmaceuticals and cosmetics sectors

5th in the world and Europe

PRODUCTION FACILITIES

  • Mersin Plant Branch
  • Yenişehir Plant Branch
  • Eskişehir Plant Branch
  • OOO Ruscam Glass Packaging Holding Ufa Plant - Russia
  • Kirishi Plant - Russia
  • Pokrovsky Plant - Russia
  • Kuban Plant - Russia
  • Gorokhovets Plant - Russia
  • JSC Mina - Georgia
  • Merefa Glass Company Ltd. - Ukraine
INSTALLED CAPACITY
2.7 million tons
INDUSTRY SCOPE
Food, beverage, pharmaceuticals and cosmetics
TOTAL ANNUAL PRODUCTION
2.4 million tons

Şişecam Chemicals

Production of soda products and chromium chemicals, glass fiber, industrial raw materials, electricity, Vitamin K3 derivatives, and sodium metabisulphite; meets the energy needs of Şişecam companies thanks to its electricity production facility

2nd in the world in soda production A global leader in basic chromium sulphate (BCS) production

PRODUCTION FACILITIES

  • Mersin Soda Plant Branch
  • Mersin Kromsan Plant Branch
  • Oxyvit Kimya San. ve Tic. A.Ş.
  • Şişecam Elyaf San. A.Ş
  • Camiş Madencilik A.Ş. Provinces where the company operates:
    Aydın, Balıkesir, Bilecik, Istanbul, Karabük, Kırklareli, Mersin
  • Solvay Sodi AD - Bulgaria
  • Sisecam Soda Lukavac - Bosnia & Herzegovina
  • Sisecam Wyoming LLC - USA Cromital S.p.A. - Italy
  • Rudnik Krecnjaka Vijenac d.o.o. - Bosnia & Herzegovina
INSTALLED CAPACITY
5 million tons/year soda ash 129 thousand tons basic chromium sulphate (BCS) 70 thousand tons of glass fiber
INDUSTRY SCOPE
Glass, detergent, textile, leather, chemicals, metal plating, wood preservation, pigments, food, animal feed, flue gas treatment, ceramics, mining, construction, automotive, marine, wind turbine blades
TOTAL ANNUAL PRODUCTION
4.9 million tons soda 62 thousand tons of glass fiber 4.4 million tons of industrial raw material

Şişecam Automotive

Production of windshield, laminated and tempered sidelight glasses, roof glasses and heated backlight glasses, encapsulation systems, acoustic glasses, antenna integrated systems, coating heated glasses, Head-Up Display featured glasses, lightweight glasses, modular systems

8th in the world and 4th in Europe

PRODUCTION FACILITIES

  • Şişecam Otomotiv A.Ş. Lüleburgaz Auto Glass Plant
  • Şişecam Automotive Bulgaria EAD - Bulgaria
  • Sisecam Automotive Germany GmbH - Germany
  • Sisecam Automotive Hungary Kft - Hungary
  • Sisecam Automotive Slovakia S.R.O. - Slovakia
  • Sisecam Automotive Rus JSC - Russia
  • Sisecam Automotive Romania SA - Romania
INDUSTRY SCOPE
Automotive main industry and automotive renewal glass (OYC) market
TOTAL ANNUAL PRODUCTION
22.1 million auto glasses 8.1 million encapsulated glasses

2022 in Numbers

Yearly sales growth: 197%

Şişecam continues to push for growth by properly analyzing risks and opportunities while adopting a holistic approach to development.

Regional Distribution of Sales Revenue

15%
69%*
5%
11%
* Includes sales revenue in Türkiye

Domestic-International Distribution of Sales

37% TRY 35.4 billion
Sales in Turkey
63% TRY 59.9 billion
Sales Abroad

Chairman’s Message

Prof. Dr. Ahmet Kırman

Chairman & Executive Member of the Board

Prof. Dr. Ahmet Kırman

Could you evaluate 2022 for Şişecam?

We managed each geography in which we operate with separate risk maps and strategies.

Could you tell us about Şişecam's global growth vision and future goals?

Our extensive global presence gives us a competitive edge.

With what vision did Şişecam transformation come about? How was this transformation reflected to Şişecam?

We aimed to create synergy, manage with a holistic perspective, and bolster our data-driven decision-making capabilities – in other words, prepare Şişecam for the future.

What were the most significant developments of the year for Şişecam in 2022?

We have a system that enables all our facilities in 14 countries to easily communicate with each other, allows for instant monitoring of data, and facilitates holistic analysis and reporting.

What does risk management mean for Şişecam?

With our extensive global operations and One Şişecam's lean and agile structure, we can proactively anticipate risks, capitalize on strategic opportunities, and monitor our operations instantly and continuously.

What is at the heart of Şişecam's "CareforNext" sustainability strategy?

This vital focus area permeates every aspect of our company’s operations and is embedded in our DNA.

2022 was the International Year of Glass. Having contributed greatly to the announcement by the UN, could you explain the importance of this for the sustainability of Şişecam and the world?

The International Year of Glass was also an ideal opportunity to spread circular economy practices around the world and to highlight various sustainable development efforts.

What does R&D mean for the Şişecam of Future?

We develop new technologies and inventions for all our stakeholders and our planet, with a particular focus on efficient production.

CEO’s Message

Görkem Elverici

CEO

Görkem Elverici

Could you briefly evaluate Şişecam's operational and financial results for 2022?

Our total investments amounted to TRY 7.8 billion. Our exports totaled USD 1.1 billion. In 2022, we produced 5.8 million tons of glass, 4.9 million tons of soda ash and 4.4 million tons of industrial raw materials.

What are Şişecam's goals for 2023?

Thanks to our ability to anticipate risks and capitalize on opportunities in an agile manner, our strategic decisions taken with collective wisdom will enable us to grow in all business areas and countries where we operate.

What are the 2022 developments regarding the organizational transformation?

We shifted to a functional-based management style, aiming for the fields of activity to support each other and share their learning and best practices.

Could you briefly describe Şişecam's investments in 2022?

Şişecam started out 2022 by acquiring the Italian company Refel, a refractory manufacturer, to ensure the sustainability of its investments.

How did Şişecam manage risks in 2022?

To guarantee the sustainability of our operations, we hedged most of our natural gas needs in our production activities at levels that support our competitiveness.

Could you briefly talk about Şişecam's projects under its sustainability strategy, 'CareforNext'?

We are working to leave a better world for future generations, using innovation blended with science and technology.

Can you briefly talk about Şişecam's R&D investments?

Şişecam develops new products, efficient production technologies, and innovative inventions that deliver value-added solutions at Şişecam Science, Technology and Design Center – one of the largest R&D centers in Europe.

Şişecam Flat Glass

High-capacity capabilities in international markets

AN OVERVIEW OF 2022

Industrial production of construction materials, which increased by 4.4% in the first quarter of 2022 and by 2.1% in the second quarter, in the construction sector, one of the main sectors in which flat glass is consumed in Türkiye, continually decreased in the third quarter by 3.3%. Production continued to decline in the last quarter of 2022 as well.

TRY
26.5
Billion
ŞİŞECAM FLAT GLASS NET SALES REVENUES
DETAILS

Şişecam Glassware

Sustainable service level with innovative products

AN OVERVIEW OF 2022

Despite the global economic downturn and increasing energy costs, Şişecam Glassware preserved its profitability and achieved growth through effective market, pricing, and portfolio management.

114%
INCREASE IN ŞİŞECAM GLASSWARE NET SALES REVENUE
DETAILS

Şişecam Glass Packaging

Operational excellence and new technology investments

AN OVERVIEW OF 2022

Looking at the glass packaging sector, the beverage (alcoholic and non-alcoholic) sector drove the market the most globally.

Especially in the European region, the energy crisis increased cost pressures on glass packaging manufacturers. While industry players focused on product mitigation projects, operational excellence, and efficiency efforts in order to achieve sustainable profitability levels as a result of rising energy and input prices, investments in digitalization and sustainability areas, which become increasingly important in the sector, continued without slowing down.

139%
INCREASE IN ŞİŞECAM GLASS PACKAGING NET SALES REVENUE
DETAILS

Şişecam Chemicals

Soda ash, chromium and Oxyvit exports to more than 100 countries

AN OVERVIEW OF 2022

In the first half of 2022, in the sectors in which Şişecam Chemicals operates, a recovery was experienced due to rebounding demand after the pandemic. Despite the global risks in the second half of 2022, Şişecam maintained its sales stability by adapting to changing market conditions, thanks to its effective strategies, strong financial infrastructure, and efficient distribution channels. Şişecam Chemicals exported soda ash, chrome and Oxyvit products to more than 100 countries in 2022.

TRY
35.3
Billion
ŞİŞECAM CHEMICALS NET SALES REVENUES
DETAILS

Şişecam Automotive

Trust-centered customer approach

AN OVERVIEW OF 2022

In 2022, the energy crisis caused by the Russia-Ukraine war had a negative impact on the automotive industry, like all sectors of the global economy. Unlike oil crises of the past, this crisis caused disruption in production processes around the world due to its dominance in all energy fields such as natural gas and electricity. European countries, which are dependent on Russia for energy, sought solutions against the risk of recession. Many automotive sector manufacturers operating especially in Europe and Russia experienced temporary or permanent shutdowns due to the contraction in raw material supply and the difficulty in accessing production factors. During this challenging time, manufacturers turned to alternative energy sources and suppliers and tried to overcome the crisis with minimal losses.

94%
ŞİŞECAM AUTOMOTIVE INCREASE IN NET SALES REVENUE
DETAILS
Previous years' Annual Reports can be accessed below
2021 2020 2019 2018 2017