Şişecam held its 89th Ordinary General Assembly meeting with its shareholders on March 25, 2025.
During the meeting, Şişecam presented its 2024 Annual Financial Report along with detailed updates on its financial and operational performance.
In his opening speech at the General Assembly, Şişecam’s CEO, Görkem Elverici, said, “In recent years, the world has faced a challenging period marked by uncertainties and fluctuations. 2024 may have been the year when these challenges were most intensely felt. Global economic fluctuations, inflationary pressures, high interest rates, tight monetary policies, volatile energy prices, and geopolitical tensions shaped the year.
“Low growth in China, delayed recovery from Europe’s energy crisis, and election issues in many countries, particularly in the U.S., were the other key highlights. In Turkey, high inflation and the real appreciation of the Turkish lira against reserve currencies negatively impacted the financial results of companies operating internationally, especially those with export activities and foreign production sales.” 
Elverici continued, “Looking at our financial and operational performance, we did not face any production difficulties in our glass business lines. The total volume of glass production across all our glass business lines increased by 8 percent in 2024 compared to the previous year. Our glass product sales also showed a 9 percent increase in volume year-on-year. In the chemicals segment, where we are a global leader in chrome chemicals, our sales volume increased by 27 percent, while our soda ash sales remained in line with the previous year.
“Despite the challenges in the overall economic environment, Şişecam was one of the few companies that closed 2024 with a net profit, among industrial companies with significant export shares and international operations managed from a Turkey-based model. Moving forward, we aim to further strengthen our solid and sustainable financial structure.
“Additionally, we aim to generate the highest possible value for all our shareholders through optimized share buyback strategies, while maintaining our dividend distribution policies. We are confident that Şişecam, with its innovation and adaptability, has the potential to turn this volatile economic environment into an opportunity. We are rapidly and decisively implementing extraordinary measures to restore our financial performance to its previous levels.”
Source: Şişecam with additional information added by GlassBalkan
