Ülker's export and international operations grew by 61.1% in the second quarter of 2019.
Ülker Biscuit increased its sales by 38.7% in the second quarter of 2019 compared to the same period of the previous year, reaching TL 1.8 billion.
Turkish operations grew by 27.6%, with export and international operations growing by 61.1%. The company’s operating profit reached TL 275 million, with an EBITDA of TL 319 million in the second quarter. The company's consolidated EBITDA margin was 17.5%.
In a statement sent to the Public Disclosure Platform (KAP), Ülker Biscuit announced it had increased its turnover by 38.7% in the second quarter of 2019 compared to the previous year, reaching TL 1.820 billion. The company's Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) increased by 59% to TL 318.6 million in the second quarter of 2019.
The share of exports and international operations in turnover increased from 33.2% in the second quarter of 2018 to 38.5% in 2019, with its share of EBITDA increasing 5.4 points compared to 2018, reaching 45.6%.
Emphasizing the importance of the food industry for Turkey's economy and its exports especially, Ülker’s CEO Mehmet Tütüncü stated that Ülker Biscuit is working at full strength to benefit both the country's economy and the company’s stakeholders:
“Food exports reflect on society more than other sectors. An important factor for this is that Turkey hosts the main raw materials used in the sector. This, in turn, increases the added value of the sector to the country. Ülker Biscuit closed 2018 with a turnover of TL 5.9 billion, transferring 55.8% of our net sales to producers, the majority of whom are our farmers. In 2019, we’re continuing to grow and add value to our country."
Pointing out that Ülker Biscuit continued to grow in the second quarter of 2019, Tütüncü said, "We increased our total turnover by 38.7% in the second quarter of 2019 compared to the previous year. Our Turkish operations grew by 27.6%, with export and international operations growing by 61.1%. We raised our company’s consolidated EBITDA margin for the second quarter to 17.5%. We attribute this growth to our exports and foreign trade, which get their strength from two things: Our first and most important strength comes from our brands. We are a company with local, regional, and global brands, which allow us to grow organically. The second factor is our distribution network, which enables us to export to more than 100 countries. Export is strategically important both for our country and for us, so we made Turkey our production and export base. Turkey is taking firm steps towards becoming a global power, and we are working hard to provide added value to our country with our production, exports, and employment."
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