NEWS

According to the statement submitted by Ülker Bisküvi* to the Public Disclosure Platform (KAP), the company’s revenue reached 84.1 billion TL in 2024. Ülker ended the year with an EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) margin of 18.5%.

The company maintained its leadership in the biscuit market in Saudi Arabia and Egypt and continued its strong growth trend in Kazakhstan and Central Asia throughout 2024.

Ülker Bisküvi CEO Mete Buyurgan stated that in 2024, when the company celebrated its 80th anniversary, they achieved numerous successes both in financial performance and innovative projects. Buyurgan continued:

"With revisions in our go-to-market model and technology investments in our production facilities, we continue to enhance our successful business model with a focus on efficiency. We closely follow the digitalization trend and sustain our technological investments. Our investments in automation at our production facilities simplify, accelerate, and increase the efficiency of our business processes. With our widespread operations across diverse geographies and our agile and proactive management approach, our revenue has reached 84.1 billion TL. Being innovative and adapting quickly to changing trends is crucial for us. We analyse shifts in consumer behaviour and new motivations behind snack consumption, shaping our roadmap with our two in-house R&D centres and an innovative product development strategy. Over the past five years, we have launched more than 250 new products. In 2024 alone, we introduced 51 new products to consumers in Turkey. Our innovative products accounted for 15% of our domestic revenue. Our strong innovation efforts and focus products continue to drive our growth."

Our Focus on Sustainability

Emphasizing that Ülker maintains its sustainability efforts at the core of its operations with a "zero-waste" company culture amid rapidly changing global and local dynamics, Buyurgan shared the following insights:

"With production that respects both nature and people, our sustainability efforts continue uninterrupted, involving all stakeholders, including suppliers, producers, business partners, and consumers. We have grown without increasing carbon emissions, sourcing all electricity consumption across our factories from renewable energy sources. We have developed our 2030 and 2050 Net Zero Roadmap. In Turkey, all our factories have achieved a 99% raw material-to-finished product conversion rate and a 98% waste recycling rate, earning the ‘Zero Waste to Landfill’ certification. We have expanded our projects focused on key raw materials such as hazelnuts, cocoa, and wheat. In 2024, we issued our first sustainability-linked bond worth $550 million. According to the environmental, social, and governance (ESG) performance assessment conducted by the international financial analysis and reporting organization LSEG (London Stock Exchange Group), we ranked first in our category once again as of January 2, 2025, following our previous ranking in January 2024.

"In 2025, we will continue to strengthen our position both in Turkey and in other regions where we operate, carrying the responsibility of being one of our country’s leading companies. We will work even harder for a brighter future for our country, making greater strides in innovation, digitalization, product supply, and strengthening our distribution network."

*subsidiary of pladis Foods Limited.