Ulker Biskuvi Sanayi AS
IST:ULKER.E

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Ulker Biskuvi Sanayi AS Logo
Ulker Biskuvi Sanayi AS
IST:ULKER.E
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Price: 112 TRY 3.7% Market Closed
Market Cap: 41.4B TRY

Ulker Biskuvi Sanayi AS
Investor Relations

In the bustling city of Istanbul, Ulker Biskuvi Sanayi AS has carved out a delicious legacy, emerging as a symbol of Turkey's rich confectionery tradition. Founded in 1944, the company started with humble beginnings, crafting biscuits from a modest factory. Over the decades, it has grown into a diverse purveyor of snacks, biscuits, chocolates, and confectionery items. With a keen focus on quality and taste, Ulker has captivated the palates of millions, leveraging nostalgic flavors and innovative recipes that echo its roots while embracing modern trends. Its strong brand identity is bolstered by continual investments in state-of-the-art production facilities and an agile supply chain that efficiently caters to a global market.

Ulker's business model thrives on its ability to balance traditional craftsmanship with mass production efficiencies, ensuring affordability without compromising on quality. One of its core strengths lies in its diverse distribution network, which extends from local shops in Turkey to international markets, driving substantial revenue growth. By expanding its product lineup and adapting to regional tastes, Ulker has successfully captured significant market share across the Middle East, Europe, and beyond. Moreover, as part of the larger Yildiz Holding, the company capitalizes on synergies and economies of scale, enhancing its competitive edge in a global landscape where consumer preferences are constantly evolving. In this sweet symphony of operations, Ulker remains a cherished staple in households, intertwining business acumen with the simple joy of a well-baked biscuit.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 10, 2025
AI Summary
Q3 2025

Top-line Growth: Ulker delivered Q3 2025 revenue of TRY 25.4 million, up 4.8% year-on-year, despite a shrinking domestic snacking market.

Margin Expansion: Gross margin improved by 2.1 points to 29.2%, and EBITDA rose 16.5%, driven by disciplined pricing, a better product mix, and cost controls.

Innovation Impact: New product launches contributed 4% of Q3 snacking revenue, supporting overall growth and portfolio diversification.

Regional Performance: Domestic margins improved even as revenue dipped; international revenue grew 26.1% but with some margin pressure, especially in export and Central Asia due to FX and cost headwinds.

Guidance Maintained: Management kept 2025 guidance unchanged, citing a strong Q4 2024 base and ongoing market volatility, but expressed confidence in meeting targets.

Debt Refinancing: Ulker completed several major refinancings, extending debt maturities and reducing funding costs, with most short-term debt now shifted to long-term.

Key Financials
Revenue
TRY 25.4 million
Gross Profit
TRY 7.4 million
Gross Margin
29.2%
EBITDA
TRY 4.5 million
Net Income
TRY 1.1 million
Volume
174 tons
Net Debt to EBITDA
1.11
Snacking Revenue Growth
5.1%
Domestic Revenue (Q3 2025)
TRY 17.1 million
Domestic Gross Profit Margin
28.5%
Domestic EBITDA Margin
19.7%
International Revenue (Q3 2025)
TRY 8.2 million
International Gross Profit Margin
31%
International EBITDA Margin
13.7%
Market Share (Biscuits, Turkiye)
34%
Market Share (Biscuits, Middle East)
27%
Market Share (Biscuits, North Africa)
14%
Market Share (Chocolate, Central Asia)
14%
Snacking Sales Volume (Q3 2025)
153 tons
Snacking Sales Value (Q3 2025)
TRY 24.2 million
Other Earnings Calls

Management

Mr. Mete Buyurgan
CEO & Non-Independent Director
No Bio Available
Fulya Banu Surucu
Chief Financial Officer
No Bio Available
Mr. Taner Karamollaoglu
Member of Executive Board and President of Consumer Division
No Bio Available
Mr. Murat Inan
Member of the Executive Board and President of Informatics Division
No Bio Available
Ms. Verda Beste Tasar
Director of Investor Relations
No Bio Available
Mr. Ibrahim Taskin
Non-Independent Director
No Bio Available

Contacts

Address
Istanbul
Kisikli Mah. Ferah Cad. No:1 Buyuk Camlica Uskudar
Contacts