Şişecam is an industrial group conducting business operations on a global scale in flat glass, glassware, glass packaging, and chemicals business lines. Şişecam executes its production activities in 14 countries with a workforce of nearly 22 thousand people, selling its products to over 150 countries, which constitute more than half of its total sales.
Founded in 1935 by İşbank by the directive of Atatürk, Şişecam is one of the most established industrial organizations in Turkey with 85 years of corporate history. Due to its specialization, high competence and the outstanding competitive edge of its operations, it is among the world’s most prestigious manufacturers.
ŞİŞECAM CREDIT RATING | |
MOODY’S | B2/Negative |
Fitch | BB-/Negative |
ŞİŞECAM CORPORATE GOVERNANCE RATING | |
December 16, 2020 | 9,538 |
2019 | 2020 | |||
Financial Indicators | (TRY M) | (USD M) | (TRY M) | (USD M) |
Total Assets | 38,751 | 6,523 | 44,228 | 6,025 |
Equity | 19,133 | 3,221 | 22,491 | 3,064 |
Sales | 18,059 | 3,184 | 21,341 | 3,047 |
Gross Profit | 5,880 | 1,036 | 6,661 | 951 |
Operating Profit Before Financial Expenses (EBIT) | 3,494 | 615 | 4,338 | 619 |
EBITDA | 4,869 | 857 | 5,989 | 855 |
Profit for the Period | 2,700 | 476 | 2,825 | 403 |
Net Financial Debt | 4,513 | 760 | 3,911 | 533 |
Financial Ratios | 2019 | 2020 |
Current Assets/Current Liabilities | 2.10 | 2.58 |
Equity/Total Equity and Liabilities | 49.4% | 50.9% |
Net Financial Debt/Total Equity and Liabilities | 11.6% | 8.8% |
Net Financial Debt/Equity | 23.6% | 17.4% |
Gross Profit/Sales Revenue | 32.6% | 31.2% |
EBITDA/Sales Revenue | 27.0% | 28.1% |
EBIT/Sales Revenue | 19.3% | 20.3% |
Net Financial Debt/EBITDA | 0.93 | 0.65 |
Performance of Şişecam Shares Relative to BIST-100 Index (2020)
The breakdown of the Corporate Governance Rating based on main sections is as follows:
Shareholders | 0.25 | 95.49 |
Public Disclosure and Transparency | 0.25 | 96.98 |
Stakeholders | 0.15 | 99.48 |
Board of Directors | 0.35 | 92.39 |
Total | 1.00 | 95.38 |