Turkey's leading food company Ülker Bisküvi’s sales revenue reached to 9.4 billion TL in 2020. Continuing to ceaseless production and distribution in this sensitive year, Ülker's Earnings Before Interest Depreciation Tax (EBITDA) reached to 1.6 billion TL, while the share of exports and international operations rose to 50.1 percent.
According to the statement sent to the Public Disclosure Platform (KAP), Ülker Bisküvi’s sales revenue reached to 9.4 billion TL in 2020. The Company's Earnings Before Interest, Tax, Amortization and Demortisation (EBITDA) increased by 24.4 percent to 1.6 billion TL, while the share of export and international operations in EBITDA reached 50.1 percent.
Under the extraordinary conditions of the pandemic, Ülker Bisküvi CEO Mete Buyurgan stated that they support the wheels of the economy with its continuous production as a strategic key player in the food sector, and said “Human health has always been our priority in this process. For the health of our employees and their families, we have implemented high-level hygiene measures in all our work areas, including our factories. All our factories in Turkey obtained Covid-19 certificate issued by the Turkish Standards Institute (TSE). Sustainable growth in all geographies in which we operate and Turkey is continuing. We have strenghened our position in the Middle East, North Africa and Central Asia markets. In 2020, Turkey operations grew 18.6 percent while our exports and international operations grew 23.4 percent. Our sales in Kazakhstan, our gateway to Central Asia, increased at a record level he said.
Stating that they continue to bring consumers together with innovative products in 2020, Buyurgan said, “More than 70 new products in all categories took place on the shelves. In the last 3 years, we have significantly increased the share of our new products in sales. Our innovations have become one of the driving forces in the company's growth. In the first half of 2020, we signed a loan agreement of 455 million USD with the participation of 7 international banks and the European Bank for Reconstruction and Development (EBRD). In the second half of the year, our company secured a long-term financing with the participation of international investors, despite the difficult economic conditions in the world, with the first bond issuance worth of $ 650 million with the participation of more than 130 international investors from 28 countries with a demand of USD 1.8 billion. This has been a sign of trust in both our country and our company. We managed to close the year 2020 with a strong balance sheet and a turnover of 9.4 billion TL. Our consolidated EBITDA margin reached 17.2 percent from 16.7 percent compared to the previous year”.
Investments will continue
Noting that investments are constantly made in areas such as plant establishment, capacity increase, productivity studies, and renewal of production lines, Buyurgan continued his words as follows: “While working with a waste-free company model, we operate by focusing on growth and strengthening together with the society and our stakeholders. In 2020, we made an investment of 183 million TL. In 2021, with the power of digitalization, new investments and innovations, we will support the development goals of our country and maintain our strong position and leadership in all markets we are in. Our priority is to increase our market share by focusing more on the markets where our activities are concentrated. "
Our sustainability goals are long term
Noting that the company's sustainability efforts are being appreciated on both national and international platforms, Buyurgan said, “We have been in the Borsa Istanbul Sustainability Index since 2015 and in the global sustainability index- FTSE4Good Emerging Markets Index since 2016. We are delighted to be in the Corporate Sustainability Yearbook 2021, prepared by the international rating agency S&P Global, where the best companies in their sectors with environmental, social and governance performances are listed. We are among the first 631 companies in the list where 7 thousand companies in 61 sectors were evaluated worldwide. We have become the first and only Turkish company among 20 global companies in the food products / food products category”.
Stating that sustainability efforts have been managed with long-term goals, Buyurgan conveyed the following information: “Under pandemic conditions, it was once again understood how valuable the steps we have taken regarding sustainability are. Climate change, zero- food waste policy and protection of the food are our priorities. Since 2014, we have been growing without an increase in carbon emissions. We produce at the targeted quality at the first time and aim to prevent losses at source. We work with the goal of zero waste, we recycled 91 percent of our total waste in 2020. We reached the rate of converting 98.9 percent of raw materials into finished products. We see that this ratio is among the best in the food industry worldwide. While determining our sustainable packaging roadmap, the materials we use, our supply conditions and competencies, our production/filling lines in our factories, and our shipping conditions play an important role. We continue to reduce the plastic materials we use the most after paper. In 2020, we used 660 tons less paper and 536 tons less plastic. We aim to make all plastic materials we use in 2025, recyclable or biodegradable, compostable. "
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