Ülker’s Export and international operations grew by 55% in the first quarter of 2019
Ülker Biscuit increased its sales by 38% in the first quarter of 2019 compared to the same period of the previous year, reaching TL 1.9 billion.
Turkish operations grew by 30%, with export and international snack operations growing by 55%. The company's consolidated EBITDA margin was 17%.
Finishing last year with a turnover of TL 5.9 billion and a profit of TL 701 million, Ülker Biscuit announced its 2019 first quarter results. In a statement sent to the Public Disclosure Platform (KAP), Ülker Biscuit announced it had increased its sales 38% to TL 1.9 billion in the first quarter of this year compared to 2018, and increased its EBITDA (Earnings Before Interests, Taxes, Depreciation, and Amortization) by 46,8% to TL 330 million.
Stating that the company continued to grow in all areas, including its Turkish, export and international operations in the first quarter of 2019, Ülker Biscuit’s Chairman and CEO Mehmet Tütüncü stated that their consolidated EBITDA margin was 17%.
Drawing attention particularly to their particular focus on efficiency, cost management, optimization of production capacities, sustainability, and digital transformation had ensured their continued success both in Turkey and in their export and international operations, Tütüncü conveyed the following information on financial results:
- Turkish operations grew by 30%, with export and international snack operations growing by 55%.
- Creating cost advantages by combining international acquisition operations and creating synergy in procurement, production, and distribution areas contributed to the increase in the weight of international operations to turnover and EBITDA.
- The share of exports and international operations in turnover increased from 33.9% in the first quarter of 2018 to 38.1% 2019. Its share in EBITDA increased from 41.2% in the first quarter of 2018 to 47.1% in 2019.
- For the remainder of 2019, we will continue to produce according to the principles of waste-free production and grow our international and export revenues to make our competitive power sustainable as per Ülker's vision.
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