Ülker Biscuit's contribution to the Turkish economy shows no signs of slowing in 2018

Ülker Biscuit, Turkey's largest publicly traded food company, closed 2018 with a turnover of TL 5.96 billion. Its Turkish operations grew by 17 %...

Ülker Biscuit has published its "Contribution to Turkey's Sustainable Growth Strategy" report. The company had closed 2017 with a total turnover of TL 4.8 billion, TL 1.6 billion of which came from foreign sales and export revenue, contributing TL 21.6 billion to Turkey's national income with a fixed capital investment of TL 919 million between 2013 and 2017. Continuing to grow in 2018, Ülker Biscuit increased its turnover 23% compared to the previous year, reaching TL 6 billion.

Ülker Biscuit has published its "Contribution to Turkey's Sustainable Growth Strategy" report, as prepared by Prof. Dr. Kerem Alkin and Dr. Metin Gürler. The report describes the studies carried out for a sustainable future in the world and in Turkey, the value chain in the agriculture and food industry, Ülker Biscuit’s place in the value chain with its "waste-free company model", its contributions to sustainable growth and development, and Turkey's export, employment and production. 

The report emphasized the importance of the Turkish economy becoming one of the top 15 world economies between 2020 and 2030. It pointed out that a limited number of companies, those focused on adding value, efficiency, and cost management throughout their production, domestic sales, and export processes will play an important role in helping the Turkish economy maintain its place in the global economy over the next 10 years. It stressed that Turkey is self-sufficient in wheat production and carries a certain weight in global flour production, and it will increase its exports thanks to companies that obtain value-added products from flour such as Ülker Biscuit.

The report includes analyses on Ülker Biscuit’s contributions to corporate governance, innovation, and the environmental and social goals of Turkey's sustainable growth strategies, and Yıldız Holding CEO Mehmet Tütüncü said he believes it will be an important example for the industry. Tütüncü continued:

"Turkey is taking firm steps towards becoming a global power, and we are working to provide added value to our country with our production, exports, and employment. Ülker Biscuit carries out its production in 10 factories in Istanbul, Ankara, Karaman, Egypt, Saudi Arabia, and Kazakhstan. We transform the crops we buy from our farmers, whom we have supported since 1944, into products that we deliver to consumers through our wide distribution network. The work we’ve done over the past year increased our total sales by 15% to TL 4.8 billion in 2017, of which TL 1.6 billion came from export and foreign sales, to reach our highest turnover yet. In 2017, we paid approximately 51.7% of our revenues to producers. We export our products to more than 100 countries in every part of the world such as Germany, the USA, England, Peru, Mongolia, and Myanmar. Ülker Biscuit and its subsidiaries’ export revenues were US$ 211.1 million in 2017, and our share of Turkey's total snack exports was 15.6%. Ülker Biscuit's contribution to Turkey's national income was TL 21.6 billion over the 2013-2017 period. After 2017, which the report evaluates, we continued to grow and contribute to the national economy in 2018. We closed 2018 with a turnover of TL 5.9 billion, a net profit of TL 701 million, with a sales and export income of TL 2.2 billion."

Waste-free, efficient production

Stating that they have adopted the principles of waste-free, efficient production starting from the purchase of raw materials through to the delivery of products to consumers, Tütüncü said, "This principle is the most permanent and effective method for preventing cost inflation in terms of both food costs to the consumer and the efficient use of resources. We support the increase of productivity in agriculture, improving the socio-economic conditions of farmers, and reducing the environmental impact of agricultural production with our projects, so we are conducting studies in the field of biodiversity to protect the productivity of agricultural fields. In addition to protecting natural resources, we help Turkish farmers produce more efficiently with our sustainability goals, our supply chain policy, and our preference for local producers. In 2017, we purchased approximately 1.5 million tons of crops worth TL 1 billion from Turkey. We are working on wheat and oats with agriculture research institutes affiliated with the Ministry of Agriculture and Forestry. Wheat is an important raw material for both our country and for our company. With the Bahri Dağdaş International Agricultural Research Institute, we conducted improvement studies for the ideal wheat production for biscuits, resulting in the development of a high-yield, drought-resistant wheat type we call "Ali Ağa", which we are working to mainstream. Our goal with Ali Ağa wheat is for farmers to earn more income and increase their yields. We also ensure access to the wheat at the standard we need."

Ülker Biscuit’s contribution to Turkey's sustainable development in numbers

TL 4.8 billion - 2017
TL 5.9 billion -2018- end of year

Net profit
TL 383 million - 2017
TL 701 million - 2018 end of year

Foreign sales and export revenues
TL 1.6 billion - 2017
TL 2.2 billion -2018- end of year

TL 919 million - 2013-2017
TL 232 million -2018

Production capacity (annual)
937 thousand tons- 2017
1.007 thousand tons- 2018

Contribution to national income
TL 21.6 billion – 2013-2017

Ülker Biscuit’s fixed capital investment expenditures over the 5 years of 2013-2017 were TL 919 million. The company's share of Turkey's total fixed capital investment expenditures and the multiplier effect of fixed capital investments in Turkey on national income is 3.3, so the multiplier effect of investments over the 2013-2017 period on Turkey's national income exceeds TL 3 billion. Considering the added value of total production, Ülker Biscuit alone contributed TL 21.6 billion to Turkey's national income over the 2013-2017 period.

Click here for the report.

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