Şişecam Group’s consolidated net sales reached $1.3 billion (TL 6.8 billion) in the first half of 2018, with an increase by 24 percent compared to the same period of the previous year, according to the company’s latest financial results. The company reported a net profit of $304 million (TL 1.6 billion) with an increase of 93 percent for the same period.

In the first half of the year, Şişecam produced 2.4 million tons of glass, 1.2 million tons of soda ash and 1.8 million tons of industrial raw materials.

“Our consolidated net sales have reached [$1.3 billion]. The share of our international sales representing the total amount of exports from Turkey and sales from overseas production has been 59 percent in our consolidated sales. Thanks to ongoing efforts to optimize the cost structure and the geographical distribution of production activities, consolidated EBITDA has reached [$418 million] in the same period,” says Şişecam Group vice chairman and CEO Ahmet Kırman.

Şişecam Group reported total investments of $228 million (TL 1.2 billion) in the first half of 2018.

“While boosting our revenue and profitability in the first half, we have made significant investments supporting our long term sustainable growth. During this period, we concluded two acquisitions, one in Italy and the other in India, with a view to improve our effectiveness in existing markets,” says Kırman. “We have taken the position to be the principal shareholder in our flat glass subsidiary in India, which is one of the most attractive emerging markets in the world. We are committed to increase our investments in parallel to the growth opportunities in India, a country offering significant potential in terms of the increasing demand for glass. Upon the completion of the acquisition process of Manfredonia facility in Italy, we have doubled our flat glass production capacity in this country.”

Şişecam Group continued to contribute to its national economy with an export volume of $391 million in the first half of the year.

“We keep on creating values for all of our stakeholders, with successful financial results. Our goal is to further strengthen our financial structure to maintain the continuity of the group’s steady growth line and to support our growth in the upcoming periods,” said Kırman. “While continuing to increase the speed of our efforts to optimize our production facilities, we will continue to optimize our costs using all efficient methods, including increased use of automated systems.”