Ülker continued to grow in the first quarter of 2020
Turkey's largest publicly listed food company Ülker Biscuits, has continued to grow in the first quarter of 2020.
Turkey's largest publicly listed food company Ülker Biscuits, has continued to grow in the first quarter of 2020. The company’s operations in Turkey grew 22,7 percent; while exports and international operations grew 21,8 percent. Its sales reached 2.38 billion TL, increased by 22.3 percent compared to the same period of the previous year.
Turkey's largest publicly listed food company Ülker Biscuits, announced its first quarter 2020 results. According to the material disclosure sent to the Public Disclosure Platform ,In the first quarter of this year, Ülker increased its sales by 22.3 percent compared to the same period of 2019 and reached 2.38 billion TL, while it’s EBITDA (Earnings before interest, tax, depreciation and amortization) reached 415 million TL with an increase of 25.7 percent.
Drawing attention to the fact that not only Turkey but the whole world is going through a sensitive period and in the fight against the pandemic, important responsibilities lay on every segment of the society, Ülker CEO Mete Buyurgan continued his words as follows: We, as the food producers, took our place in the front lines in this struggle. We have implemented 14 rules of Ministry of Health and and taken additional precautions in all our factories and offices. In this period, we produce continuously for our country and our people. We continue to support the people staying at quarantine dormitories, and healthcare professionals with our products through Non-Governmental Organizations. On the other hand, we have also contributed to 200 thousand Ramadan food boxes with our products, prepared to be delivered to those in need. On this occasion, I would like to thank all our employees once again.’
Stating that Ülker Bisküvi maintains its strong position in the markets in which it operates, Buyurgan said that they have achieved an increase in the sense of volume and operational profitability with innovative new products and effective operations management both at anchor market Turkey and international
Buyurgan also mentioned about Ülker Bisküvi's financial results in the first quarter as follows:
- Within this outbreak period, we continue our production, exports and support both our suppliers and customers in terms of sustaining employment. Moreover to that, we continue contributing to our country's fight against unemployment by creating additional work force.
- We increased our consolidated revenue by 22.3 percent to 2.38 billion TL.
- The revenue growth of our operations in Turkey in the first quarter was 22,7 percent, whilst the sales growth of our exports and international operations was 21,8 percent
- The share of our export and international operations in total turnover was 37.9 percent, and its share in total EBITDA was 46.6 percent.
- As well as our industry leadership in Turkey, we are also a strong player in the region. We continue our leadership in the biscuit market in Saudi Arabia and Egypt.
- Digitalization, R&D and innovative new products are at the forefront of our agenda. Full material utilization enable us to convert raw & pack material to finished goods creating no waste production which provide us efficiency, productivity, speed, cost and competitive advantage, we also monitor and manage our supply chain operations as an end to end process .Digital applications in the sales and distribution network operations are taking us even further.
- We have integrated sustainability into all our business processes. Since 2014, we have been growing without carbon emission increase.
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