Şişecam’s quarter one (Q1) 2026 revenue dropped to $1.2 billion* from $1.3 billion* in Q1 2025, according to the company’s most recent financial report. However, gross profit improved to $348 million* from $309 million* year-over-year.

During Q1, Şişecam’s share of international sales stood at 61%, while total investments reached $125 million* and exports amounted to $228 million. In Q1, the company produced 1.3 million tons of glass, 1.1 million tons of soda ash and 0.9 million tons of industrial raw materials.

“[The new year] began under the influence of geopolitical developments, concerns regarding energy supply and persistent inflationary pressures,” says Şişecam CEO Can Yücel. “Escalating tensions in the Middle East have reinforced expectations of new cost pressures and a potential wave of inflation globally. Against this backdrop, while supporting the continuation of tight monetary policies, these dynamics have also highlighted the need for companies to build more resilient and flexible structures.”

European Expansion and Coated Glass Investments Accelerate

Yücel states that Şişecam began 2026 with a focus on medium- to long-term investments. The company has invested heavily in Europe, with new facilities and lines in Turkey, Bulgaria, Hungary and Italy.

“At our Kaposvár facility in Hungary, our first glass packaging investment in Europe, we ignited our first furnace for trial production,” explains Yücel. “At our flat glass facilities in Bulgaria and Italy, we commissioned two new coated glass lines, nearly doubling our coating capacity in Europe and expanding our value-added product portfolio. At our greenfield flat glass investment in Tarsus, Turkey, we commissioned the TR9 line, creating an annual gross production capacity of 432,000 tons, and reached one of the largest flat glass production complexes in the world.”

Debt Climbs, Net Profit Falls Amid Global Economic Pressures

Şişecam’s long-term borrowings rose to $2.8 billion* from $2.3 billion* at year-end 2025, while net profit dropped, falling from $238 million* to $41.2 million*. At the same time, it issued a $500 million Eurobond through its United Kingdom-based subsidiary. Company officials say the transaction, combined with the long-term funding secured over the past year, has strengthened Şişecam’s ability to manage liquidity in the face of global uncertainties.

“The performance we delivered in the first quarter demonstrates that we are progressing on solid ground,” says Yücel. “For the remainder of the year, we will continue to maintain our balanced and disciplined management approach, maximize the efficiency of our newly commissioned investments, enhance company value and prioritize profitability.”

*Converted from TRY to USD on May 20, 2026.