NEWS

Ülker's turnover reaches TL 5.7 billion at the end of the third quarter of 2019

Ülker Biscuit increased its sales by 31.7% in the third quarter of 2019 compared to the same period of the previous year, reaching TL 1.9 billion. Turkish operations grew by 32%, with export and international operations growing 31.1%, bringing the 9-month turnover of the company to TL 5.7 billion.

Ülker Biscuit recently sent a statement to the Public Disclosure Platform (KAP). In it, they’d announced that they had boosted their turnover by 31.7% during the third quarter of 2019 compared to the previous year. Their turnover reached TL 1.9 billion.

The company's Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) increased by 33.7% to TL 314.6 million in the third quarter of 2019, compared to the previous year. Its shares of export and international operations reached 46.8%.

Pointing out that the company had continued to grow in the third quarter of 2019, Ülker Biscuit’s Chairman and CEO Mehmet Tütüncü said, "We increased our total turnover by 31.7% in the third quarter of 2019 compared to the previous year. Our Turkish operations grew by 32%. And our export and international operations increased by 31.1%. We raised the company's consolidated EBITDA margin for the third quarter to 16.6%."

Tütüncü continued: "Ülker Biscuit’s production and exports continue to contribute to the Turkish economy. Just like the first two quarters of the year, we maintained our strong growth trend both in the domestic market and in export and international operations. Our local efficiency efforts give us cost advantages, helping us make Turkey a production and export base. Our new products and product synergies support our growth, as do our investments in R&D and innovation. Since day one, we have been working according to the principles of waste-free, efficient production, and we are aware that this is the most permanent and effective method for fighting inflation."

"OUR GOAL IS TO CREATE MAXIMUM VALUE"

Tütüncü stated that in addition to its financial progress, Ülker Biscuits considers sustainability to be fundamental to the continuation of its business in the coming years, that in 2015 it was the first food company listed on the BIST Sustainability index, and that it has been listed there every year since.

Emphasizing that global stock market investors choose shares from companies engaged in responsible resource management, production, and trade, Tütüncü said, "Consumers prioritize the products and brands of producers who consider the future when using their resources. Young talents especially prefer to work in companies whose business strategy includes responsibility to the world. Our sustainability investments aim to generate maximum value in financial markets for our corporate investors and shareholders by managing our intangible assets in areas such as human capital, brand and reputation value, and innovation power at the highest value."

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