Ülker breaks a record in the first quarter of 2018
Ülker Brakes A Record in the First Quarter of 2018
Ülker Biscuit has announced the first quarter results of 2018. They have broken a new record by earning an EBITDA rate of 15.2%. Their snack turnover grew by more than 14% compared to last year.
Ülker Biscuit finished off last year with a historic record turnover and profit. This year, they announced in a statement to the Public Disclosure Platform (KAP) their turnover from snack business had climbed by 14.1% to TL 1.4 billion in the first quarter alone compared to last year.
Ülker Biscuit’s (Turkey’s largest publicly traded food company) EBITDA was worth TL 213 million in the first quarter this year, with an increase from 2017. Its declared net profit was worth TL 122 million.
Ülker exceeds its targeted operational profit
Ülker’s CEO Mehmet Tütüncü noted that Ülker Biscuit’s EBITDA rate exceeded its target in the first quarter. He made the following assessment about his company’s performance:
- “Many things have contributed to our high EBITDA rate. We’ve invested in cost-effective solutions and product synergies in both at home and abroad. We also have maintained strong performance year after year. Hence: 15.2%. We’ve exceeded our 15% for the first time ever.
- Ülker Biscuit has grown in the first quarter this year, both operationally and financially. We’re still getting good results because we prioritize whatever will give us a competitive edge, reasonable price targets, innovation, and sustainable brand investment.
- Competence and effective strategies wherever we operate are our strength.
- Investments both here in Turkey and abroad enable us to improve our profit and brand strength because they create synergy and enhance efficiency.
- Ülker Biscuit’s high quality HR and effective leadership will only further improve financial capacity and make it more competitive.”
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