Sisecam posted gains in its first quarter financial results for 2021. The company saw a 23 percent year-over-year increase in revenue, and 29 percent increase in gross profit. Architectural glass lead the company in revenue, with a 70 percent year-over-year increase.
“First quarter of 2021 turned out to be heavier than anticipated,” says Prof. Dr. Ahmet Kırman, chairman and CEO of Şişecam. “While we continued to experience everlasting pandemic risks and worked hard to conduct our businesses in line with the so-called ‘New Normal’, we were once again pushed hard and even forced to face with the necessity to modify our supply chain in order to align it with the bottlenecks in global logistics and semiconductor industries.
The actions aimed at restructuring our supply chain model so that it can respond to the changing conditions in a faster manner helped us cope with unease in our operating industries to a large extend. Yet, the business environment unveiled the very true need for the transformation process we have been implementing in order to be improve responsiveness of the operating segments, which are especially more prone to international flow of goods and which require a higher focus on inventory optimization. It also proved our strategy of enlarging our footprint in global arena by adding new operating territories to our portfolio particularly for the proximity game-type of business lines. Not to mention how we are encouraged to pursue this goal!
As anticipated, the architectural glass industry, considerably moving in an upward trend since June last year, sustained its pace. Demand growth, recorded in our operating geographies and in geographies to which we have been catering, even had a higher magnitude. With capacities built at strategic locations, we were well positioned to grasp the trend throughout this quarter too.”