Consolidated revenue of Kerevitaş exceeds try 3 billion in 2020

Consolidated revenue of Kerevitaş exceeds try 3 billion in 2020

Kerevitaş, the market leader in the frozen food and edible oil sectors, increased its consolidated revenue by 22.6 percent in 2020, reaching TRY 3 billion.

Kerevitaş, Turkey’s leading company in the fresh frozen food and margarine markets, has reported its financial results for 2020 to the Public Disclosure Platform (KAP). The consolidated revenue of Kerevitaş in 2020 reached TRY 3.056 billion by a year-on-year increase of 22.6 percent. The company’s consolidated gross profit reached TRY 746 million while its EBITDA reached TRY 468.7 million.

Kerevitaş developed delicious, practical, and innovative products in 2020 in line with its emphasis on innovation and launched innovative solutions that meet the needs of the consumers in countries where it operates and reinforced its regional leadership. Maintaining its leadership in 21 categories in the Frozen Food and Canned Food businesses and with 59 brands in the Edible Oil business, Kerevitaş successfully completed a total of 67 product development projects through its R&D efforts. The 30 percent year-on-year increase in the revenue generated from R&D and innovation projects was a key indicator that Kerevitaş is on the right track with sound investments and ideas.

SuperFresh maintained its growth strategy with innovative products

Kerevitaş continued its growth in 2020 with its brand SuperFresh, the market leader in the frozen food industry, and outperformed its competitors in the frozen food market by a revenue increase of 60 percent in retail. Reaching approximately 1.1 million new households in 2020, SuperFresh increased its market share by 1.2 percentage points and reinforced its leadership in the frozen food sector with a revenue share of 21.5 percent. In the proprietary brands market, it maintained its leading position with a share of 50 percent. In 2020, SuperFresh entered the categories of “Frozen Bakery” with its 24/7 Oven-Baked Simit Bread, Buns and Bread family; “Ready-Cooked Meals” with its Oven-Baked Meatballs and Potatoes; and “Heat&Eat” with its Meat & Chicken Döner with Potatoes, offering new products to its customers.

Above-board leadership in the edible oil market

In 2020, Besler, the market leader in the consumer margarine market, achieved a revenue share of 56 percent by a year-on-year increase of 2 percentage points. Consequently, the market share difference between Besler and its closest competitor increased to 33 percentage points. Reaching 17 million households in 2020 with its products that have high household penetration rates, Besler reinforced its leadership by reaching a market share of 40 percent in packaged margarine with Bizim Yağ, the largest brand in its market, and achieved a market share of 48 percent in the bowl margarine market with Teremyağ, the most innovative brand in the market. Both brands maintained their brand recognition rates at 100 percent.

Şükrü Çin: “We maintained our robust leadership in 2020 as well”

Commenting on the financial results of 2020, Kerevitaş and Edible Oil Business CEO Şükrü Çin said: “We maintained our robust leadership in the frozen food and margarine markets in 2020 as well. The innovative products launched by SuperFresh last year were highly favored by our consumers, enabling us to penetrate into 1.1 million new households and consolidate our leading position in the market.In the Edible Oil Business, our products reached 17 million households and we managed to steadily increase the market share of our leading brands Bizim Yağ and Teremyağ. With the strength we derive from our agile and resilient structure and the valuable support and contributions of our stakeholders, we continue working on the basis of sustainability and efficiency in 2021 as well.”

About Kerevitaş Gıda Sanayi Ticaret A.Ş.:

Established in 1970 as the first frozen food retail company in Turkey, Kerevitaş offers the richest product range in the frozen food market with its brand SuperFresh, comprising approximately 550 products for out-of-home and retail channels. Also producing tuna fish and canned products, Kerevitaş is one of the leading players in the market. In 2017, Kerevitaş acquired Besler, which is the owner of renowned brands such as Bizim Yağ and Teremyağ, andMarsa, which is the leading brand in margarine export and the out-of-home pastry category. Kerevitaş is the second largest publicly traded food company within Yıldız Holding.

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