Ülker Announces Historic Profit of TL 241.7 Million in Second Quarter of 2018
Ülker Biscuit announces the second quarter results for 2018. Their net profit for the second quarter was worth TL 241.7 million…
Ülker Biscuit recently announced record breaking second quarter results for 2018. Its second quarter net profit was worth TL 241.7 million. Its net profit grew by 168% compared to last year.
It also managed to grow snack business turn over by 25% thanks to exports and overseas operations. Thirty four per-cent (34%) its total turnover is made up of foreign revenue.
Ülker Biscuit also broke last year’s record when it came to turnover and profit. The Public Disclosure Platform (KAP) declared that Ülker had boosted its snack business turn over by 16.3% (to TL 1.330 million).
As Turkey’s largest publicly traded food company Ülker Biscuit’s EBITDA was worth TL 200 million in the second quarter of 2018, a 22% increase from the previous. As for its net profit: was worth TL 241.7 million.
Ülker has not only exceeded its operational profit target, but also broke its own net profit record.
Ülker’s CEO Mehmet Tütüncü underlined that Ülker Biscuit maintained its first quarter EBITDA in the second quarter as well. He had the following to say about his company’s performance:
- We’re continuing to make ourselves more profitable and increase sales both at home and abroad. We’ve acquired 100% of the shares of the International Biscuits Company (IBC). Now, we’re focused taking advantage of Turkey’s free trade agreements with other Middle Eastern as well as African to sharpen our export potential. We (Ülker Biscuit) plan on continuing to flourish everywhere we do business, without compromising product quality.
- We want to exceed our 15% EBITDA target. To do this, we are investing in our brand at home and abroad, as well as in cost advantages, product synergies, and strong performance. We intend to continue growing by creating value for all our stakeholders with firm steps.
Talking about Ülker Biscuit’s rapid growth in the second quarter, he continued:
- “Ülker Biscuit grew in the second quarter of this year, both operationally and financially. We’re still getting good results from our reasonable price target and innovations. Moreover, we’re prioritizing any area that will give us a competitive edge through sustainable brand investment. We’ve increased our total snack business turnover by 16.3%, our total EBITDA by 21.8% and our net profit by 168% compared to last year. This has proven to us once again that we are strong, competent, and more effective at strategy wherever we operate.
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