Istanbul / TR. (yh) Ülker, subsidiary of Turkey’s Yıldız Holding Inc., continued to grow in the first nine months of 2020 due to a sustained focus on innovation, growing brands and building scale and reach. Turkey’s leading food company Ülker Biscuits net revenue grew by 19,3 percent in the first nine months of 2020 and it has reached 6.7 billion TRY – the company announced in November 2020. Both Turkey, exports and international operations have continued to expand.
Ebitda increased by 22.6 percent compared to 9M-2019
Ülker Biscuits increased its nine-month net revenue in 2020 to 6.7 billion TRY with an increase of 19,3 percent compared to the same period of the previous year. In a statement sent to the Public Disclosure Platform (KAP), the company announced that the Earnings Before Interest Tax, Depreciation and Amortization (Ebitda) increased by 22.6 percent compared to the same period of 2019, reaching 1,2 billion TRY.
Ülker CEO Mete Buyurgan stated that they managed to continue to grow in the nine months of the year and said, «While our net revenue reached 6.7 billion TRY, the share of our export and international operations in net revenue increased by 190 basis points to 40 percent, and its share in total Ebitda increased by 220 basis points and reached to 49 percent. Our consolidated Ebitda margin for nine months increased from 17 percent to 17.5 percent compared to the same period of the previous year. As a resilient company, we continue to reach our consumers with our production, sales and distribution activities during this challenging period, and to provide additional value to our country through employment, investments and exports.»
Stating that cost management and cost control management had an important impact on successful financial results, Buyurgan continued his words as follows: We have grown our market share in Turkey through a continued focus on outstanding, differentiated innovation, by building on the equity of our much loved brands, and by extending our scale and reach within our market network.
In addition to this, the we have continued focusing on sustainable production and supply, continuing our offering to local raw material procurement. We carried out an important project in order to put our producers support project on a sound basis. We have developed our local national first wheat project- Aliağa wheat with the collaboration of Bağri Dağdaş International Agricultural İnstitute. We have received an award from Mr. Bekir Pakdemirli the Minister of Agriculture and Forestry for Ülker’s ‘Aliağa Wheat Project’, a first of its kind creation developed. Aliağa Wheat is high-yielding, drought and disease resistant and has been developed to make a significant contribution in wheat demands of both the biscuit industry and manufacturers producing bread flour, with the aim to meet more than half of our biscuit wheat demand by 2023. We look forward to adding value to our land and country with our sustainability project.»