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Sisecam reports net sales of US $1.17 billion for first half of 2020

, Sisecam Group

Sisecam Group has reported consolidated net sales of TRY 8.8 billion (approx. US $1.17 billion) in the six-month period ending 30th June, 2020.

International sales accounted for 60% of Sisecam’s total sales during the period while it recorded total investments of TRY 625 million (US $64 million) in the first half of the year.

During this period, the group produced 2.3 million tonnes of glass, 1.1 million tonnes of soda and 2 million tonnes of industrial raw material.

Professor Ahmet Kirman, Vice Chairman and CEO of Sisecam Group disclosed the financial results for January – June last month and stated that the company continued to create value for all its stakeholders in the first half of 2020 despite the global pandemic.

He said: “Our sales, after contracting globally in April due to the impact of the pandemic, started to rise in May thanks to our rapid decision-making and effective managerial actions.

“Since June especially, our sales performance has demonstrated a strong comeback with the easing of quarantine measures and steps taken towards normalisation, primarily in Turkey and also in many of the regions where we operate.”

The Group’s EBITDA margin, which was 32% in the first quarter of the year, came in at 27% in the January - June 2020 period.

Prof. Kirman said: “We rapidly implemented cost saving measures from the very start of the global pandemic.

“Sisecam Group is required to conduct uninterrupted production in its current business lines, which depend on melting technologies, compared to other industrial business lines.

“As a result, we rapidly updated our production plans and business processes given emerging developments in industries that we provide input.”

, © Sisecam Group

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