SISECAM'S FIRST-HALF NET SALES REACHED 86 BILLION TRY
Business News
SISECAM’S FIRST-HALF NET SALES REACHED 86 BILLION TRY
Sisecam announced its financial results for the first half of 2024. In this period, Sisecamâs consolidated net sales totaled TRY 86 billion
Turkiye Sise ve Cam Fabrikalari AS (IST:SISE)
ISTANBUL, TURKIYE, September 2, 2024 /EINPresswire.com/ — With production operations spanning 14 countries on four continents and sales in over 150 countries, Sisecam continues its global operations. In the first half of 2024, Sisecam recorded consolidated net sales of TRY 86 billion. During this period, international sales accounted for 61% of Sisecam's total sales, while the companyâs total investments reached TRY 11 billion and exports totaled USD 492 million.
02.09.2024 â Sisecam announced its financial results for the first half of 2024. In this period, Sisecamâs consolidated net sales totaled TRY 86 billion. International sales -the sum of exports from Türkiye and sales from production outside Türkiyeâ accounted for 61% of consolidated sales. Sisecamâs total investments amounted to TRY 11 billion, while exports from Turkiye totaled USD 492 million. During this period, the company produced 2.7 million tons of glass, 2.3 million tons of soda ash, and 1.8 million tons of industrial raw materials.
Sisecamâs CEO, Görkem Elverici, commented on the global economic and sectoral outlook in relation to the company's first-half 2024 results: "2024 began with significant global economic uncertainties and geopolitical tensions, which continued into the second quarter. The monetary policy measures implemented to control persistent high price levels globally had a considerable impact on the consumer appetite and economic growth. These measures, together with market imbalances, fluctuations in energy prices, and geopolitical tensions, impacted not only the broader business environment but also the sectors in which Sisecam operates. The continuing weak demand, along with a slowdown in some regions, further emphasized the need for cost-saving and operational efficiency measures. The ability to make agile decisions and act swiftly became increasingly critical. We believe that interest rate cuts and demand improvements in the second half of the year will partially support moderate developments in economies and a recovery in our sectors.â
Regarding Sisecamâs first-half 2024 results, Görkem Elverici stated: âWith its experience in foreseeing uncertainties and strategic decision-making mechanisms, Sisecam successfully managed risks in the first half of the year. Consistent with its long-term strategic goals and regional strategies across business lines, Sisecam continues to manage its investment plans that create sustainable value, while taking economic and geopolitical developments into account. This strategic approach, which significantly contributes to the sustainable increase in shareholder value, will enable Sisecam to meet the anticipated demand with even stronger capabilities as uncertainties diminish and more favorable market dynamics emerge."
Global Confidence in Sisecam
Görkem Elverici also highlighted Sisecamâs record-breaking bond issuance in April and May, which marks the largest corporate bond issuance in the history of the Turkish Republic: âWe issued Eurobonds totaling USD 1.5 billion in two tranches â with 55% maturing in 8 years and 45% in 5 years â to international funds and financial institutions. This issuance attracted nearly USD 5 billion in total demand from international funds and financial institutions, setting a record for the largest corporate bond issuance in the history of the Turkish Republic. Additionally, leading credit rating agencies Fitch and Moody's have lifted the country ceiling on Sisecam's credit rating. These developments once again reaffirm the global confidence in Sisecam.
Aysegul Akyarli
Sisecam
email us here
Visit us on social media:
LinkedIn
Legal Disclaimer:
EIN Presswire provides this news content “as is” without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Sisecam announced its financial results for the first half of 2024. In this period, Sisecamâs consolidated net sales totaled TRY 86 billion
Turkiye Sise ve Cam Fabrikalari AS (IST:SISE)
ISTANBUL, TURKIYE, September 2, 2024 /EINPresswire.com/ — With production operations spanning 14 countries on four continents and sales in over 150 countries, Sisecam continues its global operations. In the first half of 2024, Sisecam recorded consolidated net sales of TRY 86 billion. During this period, international sales accounted for 61% of Sisecam's total sales, while the companyâs total investments reached TRY 11 billion and exports totaled USD 492 million.
02.09.2024 â Sisecam announced its financial results for the first half of 2024. In this period, Sisecamâs consolidated net sales totaled TRY 86 billion. International sales -the sum of exports from Türkiye and sales from production outside Türkiyeâ accounted for 61% of consolidated sales. Sisecamâs total investments amounted to TRY 11 billion, while exports from Turkiye totaled USD 492 million. During this period, the company produced 2.7 million tons of glass, 2.3 million tons of soda ash, and 1.8 million tons of industrial raw materials.
Sisecamâs CEO, Görkem Elverici, commented on the global economic and sectoral outlook in relation to the company's first-half 2024 results: "2024 began with significant global economic uncertainties and geopolitical tensions, which continued into the second quarter. The monetary policy measures implemented to control persistent high price levels globally had a considerable impact on the consumer appetite and economic growth. These measures, together with market imbalances, fluctuations in energy prices, and geopolitical tensions, impacted not only the broader business environment but also the sectors in which Sisecam operates. The continuing weak demand, along with a slowdown in some regions, further emphasized the need for cost-saving and operational efficiency measures. The ability to make agile decisions and act swiftly became increasingly critical. We believe that interest rate cuts and demand improvements in the second half of the year will partially support moderate developments in economies and a recovery in our sectors.â
Regarding Sisecamâs first-half 2024 results, Görkem Elverici stated: âWith its experience in foreseeing uncertainties and strategic decision-making mechanisms, Sisecam successfully managed risks in the first half of the year. Consistent with its long-term strategic goals and regional strategies across business lines, Sisecam continues to manage its investment plans that create sustainable value, while taking economic and geopolitical developments into account. This strategic approach, which significantly contributes to the sustainable increase in shareholder value, will enable Sisecam to meet the anticipated demand with even stronger capabilities as uncertainties diminish and more favorable market dynamics emerge."
Global Confidence in Sisecam
Görkem Elverici also highlighted Sisecamâs record-breaking bond issuance in April and May, which marks the largest corporate bond issuance in the history of the Turkish Republic: âWe issued Eurobonds totaling USD 1.5 billion in two tranches â with 55% maturing in 8 years and 45% in 5 years â to international funds and financial institutions. This issuance attracted nearly USD 5 billion in total demand from international funds and financial institutions, setting a record for the largest corporate bond issuance in the history of the Turkish Republic. Additionally, leading credit rating agencies Fitch and Moody's have lifted the country ceiling on Sisecam's credit rating. These developments once again reaffirm the global confidence in Sisecam.
Aysegul Akyarli
Sisecam
email us here
Visit us on social media:
LinkedIn
Legal Disclaimer:
EIN Presswire provides this news content “as is” without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
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In summary, Sisecam’s impressive financial performance in the first half of 2024, marked by consolidated net sales of TRY 86 billion and significant international presence, underscores the company’s resilience amidst global economic challenges. With international sales comprising 61% of total revenues and total investments reaching TRY 11 billion, Sisecam is strategically positioned for sustainable growth. The successful record-breaking bond issuance also highlights the confidence investors have in the company’s future. As Sisecam navigates through uncertainties with agile decision-making and a commitment to operational efficiency, its strategic initiatives are set to enhance shareholder value and meet anticipated demand, paving the way for a stronger recovery in the latter half of the year.
-
In conclusion, Sisecam’s strong performance in the first half of 2024, with consolidated net sales reaching TRY 86 billion and international sales contributing 61% of this figure, highlights the company’s resilience amid global economic uncertainties. The strategic investments and operational efficiencies implemented by Sisecam have positioned it well to navigate challenges while continuing to create sustainable value. The record-breaking bond issuance further underscores the confidence investors have in Sisecam’s long-term growth potential. As the market stabilizes, Sisecam is poised to capitalize on emerging opportunities and strengthen its capabilities to meet anticipated demand.
-
In conclusion, Sisecam’s financial performance in the first half of 2024, marked by consolidated net sales of TRY 86 billion, underscores the company’s resilience in a challenging global landscape. With 61% of sales derived from international markets and significant investments totaling TRY 11 billion, Sisecam is not only navigating current economic uncertainties but also positioning itself for future growth. The record-breaking Eurobond issuance highlights the strong confidence investors have in the company, further solidifying its leadership in the glass and chemicals sectors. As Sisecam adapts to evolving market dynamics and continues to enhance operational efficiencies, its strategic initiatives are likely to foster sustainable value creation and robust shareholder returns moving forward.
-
In conclusion, Sisecam’s impressive performance in the first half of 2024, with consolidated net sales reaching TRY 86 billion and international sales constituting 61% of the total, underscores its robust global presence and operational resilience. Despite facing challenges from economic uncertainties and geopolitical tensions, the company’s strategic investment of TRY 11 billion and record-breaking bond issuance reflect a strong commitment to sustainable growth and shareholder value. With a focus on cost efficiency and agility in decision-making, Sisecam is well-positioned to navigate market fluctuations and capitalize on emerging opportunities in the latter half of the year. This solid performance and forward-thinking approach reinforce global confidence in Sisecam’s capabilities and future prospects.
-
In conclusion, Sisecam’s first-half 2024 financial results demonstrate the company’s resilience and strategic prowess amid global economic uncertainties. With consolidated net sales reaching TRY 86 billion and a significant 61% derived from international markets, Sisecam showcases its strong global presence and operational adaptability. The notable investments amounting to TRY 11 billion and record-breaking Eurobond issuance reflect investor confidence and underscore Sisecam’s commitment to sustainable growth. As the company navigates challenges and anticipates market recovery, it remains well-positioned to enhance shareholder value and meet future demand with strengthened capabilities.
-
Sisecam’s robust performance in the first half of 2024, with consolidated net sales reaching TRY 86 billion, underscores its resilience in a challenging global economic landscape. The company’s strategic focus on international markets—evidenced by 61% of sales coming from abroad—alongside significant investments and a record bond issuance, highlights its commitment to sustainable growth and shareholder value. As Sisecam navigates ongoing geopolitical and economic uncertainties, its proactive risk management and adaptive decision-making position it well to capitalize on future market opportunities. With increased global confidence reflected in its credit ratings and bond demand, Sisecam is poised for continued success as it meets evolving demand dynamics in the glass and industrial raw materials sectors.
gwen hughes
September 4, 2024 at 4:43 pm
In summary, Sisecam’s impressive financial performance in the first half of 2024, marked by consolidated net sales of TRY 86 billion and significant international presence, underscores the company’s resilience amidst global economic challenges. With international sales comprising 61% of total revenues and total investments reaching TRY 11 billion, Sisecam is strategically positioned for sustainable growth. The successful record-breaking bond issuance also highlights the confidence investors have in the company’s future. As Sisecam navigates through uncertainties with agile decision-making and a commitment to operational efficiency, its strategic initiatives are set to enhance shareholder value and meet anticipated demand, paving the way for a stronger recovery in the latter half of the year.
Heather Jenkins
September 5, 2024 at 6:41 am
In conclusion, Sisecam’s strong performance in the first half of 2024, with consolidated net sales reaching TRY 86 billion and international sales contributing 61% of this figure, highlights the company’s resilience amid global economic uncertainties. The strategic investments and operational efficiencies implemented by Sisecam have positioned it well to navigate challenges while continuing to create sustainable value. The record-breaking bond issuance further underscores the confidence investors have in Sisecam’s long-term growth potential. As the market stabilizes, Sisecam is poised to capitalize on emerging opportunities and strengthen its capabilities to meet anticipated demand.
linda bailey
September 5, 2024 at 11:24 am
In conclusion, Sisecam’s financial performance in the first half of 2024, marked by consolidated net sales of TRY 86 billion, underscores the company’s resilience in a challenging global landscape. With 61% of sales derived from international markets and significant investments totaling TRY 11 billion, Sisecam is not only navigating current economic uncertainties but also positioning itself for future growth. The record-breaking Eurobond issuance highlights the strong confidence investors have in the company, further solidifying its leadership in the glass and chemicals sectors. As Sisecam adapts to evolving market dynamics and continues to enhance operational efficiencies, its strategic initiatives are likely to foster sustainable value creation and robust shareholder returns moving forward.
Jenny Bailey
September 5, 2024 at 11:28 am
In conclusion, Sisecam’s impressive performance in the first half of 2024, with consolidated net sales reaching TRY 86 billion and international sales constituting 61% of the total, underscores its robust global presence and operational resilience. Despite facing challenges from economic uncertainties and geopolitical tensions, the company’s strategic investment of TRY 11 billion and record-breaking bond issuance reflect a strong commitment to sustainable growth and shareholder value. With a focus on cost efficiency and agility in decision-making, Sisecam is well-positioned to navigate market fluctuations and capitalize on emerging opportunities in the latter half of the year. This solid performance and forward-thinking approach reinforce global confidence in Sisecam’s capabilities and future prospects.
Alison Bailey
September 5, 2024 at 11:38 am
In conclusion, Sisecam’s first-half 2024 financial results demonstrate the company’s resilience and strategic prowess amid global economic uncertainties. With consolidated net sales reaching TRY 86 billion and a significant 61% derived from international markets, Sisecam showcases its strong global presence and operational adaptability. The notable investments amounting to TRY 11 billion and record-breaking Eurobond issuance reflect investor confidence and underscore Sisecam’s commitment to sustainable growth. As the company navigates challenges and anticipates market recovery, it remains well-positioned to enhance shareholder value and meet future demand with strengthened capabilities.
Anthony Fisher
September 5, 2024 at 7:11 pm
Sisecam’s robust performance in the first half of 2024, with consolidated net sales reaching TRY 86 billion, underscores its resilience in a challenging global economic landscape. The company’s strategic focus on international markets—evidenced by 61% of sales coming from abroad—alongside significant investments and a record bond issuance, highlights its commitment to sustainable growth and shareholder value. As Sisecam navigates ongoing geopolitical and economic uncertainties, its proactive risk management and adaptive decision-making position it well to capitalize on future market opportunities. With increased global confidence reflected in its credit ratings and bond demand, Sisecam is poised for continued success as it meets evolving demand dynamics in the glass and industrial raw materials sectors.