Ülker’s turnover for 2020 - 9.4 Billion TL

Ülker Bisküvi, Türkiye's leading food company, increased its turnover to 9.4 billion TL in 2020. With production and distribution continuing without interruption throughout this sensitive year, Ülker's Earnings Before Interests, Taxes, Depreciation, and Amortization (EBITDA) reached 1.6 billion TL, with its share of exports and overseas operations increasing to 50.1%. The company has managed to grow in all the markets in which it operates.

According to a statement sent to the Public Disclosure Platform (KAP), Ülker Bisküvi increased its turnover to 9.4 billion TL in 2020. The company's Earnings Before Interests, Taxes, Depreciation, and Amortization (EBITDA) increased by 24.4% to 1.6 billion TL, with its share of exports and overseas operations rising to 50.1%. 

During the extraordinary conditions of the pandemic, Ülker Bisküvi’s CEO Mete Buyurgan stated that theirs was a strategic sector, and they had continued production to help support the economy, saying “The health of our workers and their families have been our priority throughout this time, so we have implemented high-level hygiene measures in all our work areas, including our factories. All of our factories in Türkiye also received the TSE Covid-19 Safe Production Certificate issued by the Turkish Standards Institution (TSE). Our sustainable growth continues in Türkiye and in all the regions where we operate. We strengthened our position in the Middle East, North Africa, and Central Asian markets. Our Turkish operations grew 18.6%, and our export and international operations grew 23.4% in 2020. Our sales in Kazakhstan, our gateway to Central Asia, have increased at a record level." 

Stating that they continued to bring innovative products to their customers in 2020, Buyurgan said, “We have introduced more than 70 new products in all categories. In the last 3 years, our new products have significantly increased their share of sales. Our innovations have become one of the forces driving company growth. In the first half of 2020, we signed agreements worth US$ 455 million in loans with 7 international banks, including the European Bank for Reconstruction and Development (EBRD). In the second half of the year, despite the difficult global economic conditions, our company secured long-term financing by international investors with a first bond issuance worth $650 million with the participation of more than 130 international investors from 28 countries with a demand of $1.8 billion. This is a sign of trust in both our company and our country. We managed to close 2020 with a strong balance sheet and a turnover of 9.4 billion TL. Our consolidated EBITDA margin increased from 16.7% to 17.2% compared to the previous year." 

Investments will continue

Noting their constant investments in areas such as plant building, capacity increase, productivity studies, and the renewal of production lines, Buyurgan continued: “Our company works according to a waste-free model, and we operate together with society and our stakeholders, focusing on growing and getting stronger. In 2020, we made investments of 183 million TL. In 2021, we will continue to maintain our strong position and leadership in all our markets and support the development goals of our country through the power of digitalization, new investments, and innovations. Our priority is to increase our market share by focusing more on the markets where our operations are concentrated.

Sustainability goals are long-term 

Noting that the company's sustainability efforts are appreciated both nationally and internationally, Buyurgan said, "We have been included on the Borsa Istanbul Sustainability Index since 2015 and on the global sustainability index FTSE4Good Emerging Markets Index since 2016. We are delighted to be included in the 2021 Sustainability Yearbook, which lists the companies with the best environmental, social, and governance performances in their sectors, as prepared by the S&P Global international rating agency. We were among the top 631 companies on a list evaluating 7,000 companies in 61 sectors worldwide. We became the first and only Turkish company rated among the top 20 global companies in the food products category.

Stating that the company’s sustainability efforts are managed with long-term goals, Buyurgan conveyed the following information: “The pandemic has once again made us understand the value of the steps we’ve taken regarding sustainability. Climate change, and the conservation of food and preventing its waste are among our priorities. Since 2014, we have been growing without increasing carbon emissions. We achieve the targeted quality on the first try and work to prevent losses at the source. Working with the goal of zero waste, we recycled 91% of our total waste in 2020. Our rate of converting raw materials into finished products has reached 98.9%, which is among the best in the world for the food industry. The materials we use, our supply conditions and capacities, the filling lines in our factories, and our shipping conditions all play important roles in determining our roadmap for sustainable packaging. Our efforts continue to reduce the plastic materials we use in packaging, second most after paper. In 2020, we reduced our use of paper by 660 tons and plastic by 536 tons. By 2025, we aim to make all the plastic materials we use recyclable, biodegradable, or compostable."

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