Şişecam has published its annual report for 2022. The Turkey-based glass manufacturer reported yearly sales growth of 197%, with more than 37% of sales listed as domestic and 63% of sales listed as international. Şişecam’s consolidated sales in 2022 reached $4.8* billion while its EBITDA increased to $1.4 billion* from 2021’s total of $594 million*.

Şişecam’s financial data indicates the majority of sales occurred in Europe (69%), followed by America (15%) and Asia Oceania (11%).

Consolidated Financial Indicators

Sales Revenues: $4.8 billion*

Investments: $398.2 million*

Total Assets: $8.3 billion*

EBITDA: $1.4 billion*

Flat Glass Financial Data

Nearly 30% of Şişecam’s total sales were attributed to its flat glass segment, which includes mirrors and patterned, laminated, coated and solar glass. Flat glass also accounted for 21.4% of the company’s international sales and 25.4% of investments.

Additionally, Şişecam reported that consolidated 2022 flat glass sales increased to $1.3 billion* from 2021’s reading of $499.6 million*. Its consolidated flat glass EBITDA doubled in 2022 to $427.1 million*.

Flat Glass 2022 Overview

Şişecam produced 3 million tons of flat glass in 2022, which was 51% of the company’s total glass production. Sustainability was a focus for the company in 2022, say officials, as the company aims to increase its installed patterned glass production capacity to 324,000 tons annually and its energy glass processing line capacity to 26.6 million square meters yearly.

Regionally, Europe experienced a 3% increase in the first quarter of 2022, followed by a 1% contraction in the second and third quarters. The fourth quarter remained stagnant. In India, the flat glass sector grew by 9.7% compared to 2021, driven by urbanization projects.

Research and development were also key for Şişecam in 2022. The company focused on developing new low-E coated glass products with heat and light control features for architectural applications. It also researched filed patent applications for bird-friendly glass products, demanded especially by the American market.

*Figures converted from Turkish Lira to USD