ÜLKER BİSKÜVİ 3Q24 EARNINGS
Quarterly Update
Quarterly Update
• Strengthening our leadership position in all our operating regions Türkiye, MENA, CA
- Continued to grow with value-added launches and communication support
- Hit the records with Dubai chocolate.
- Rising living costs and increased raw material expenses impacted our results.
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Despite the challenging environment, we effectively navigate ourselves around these challenges by focusing on our strengths and maintaining a proactive approach.
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We provided training on sustainable farming techniques at our factory and in our hazelnut orchards.
- We reached a total of 3,568 cocoa farmers in Ivory Coast.
- We started an agroforestry pilot project on 250 hectares with 124 farmers.
- We provide mobile health services prioritizing women farmers and their families.
- We continue satellite monitoring to confirm no deforestation. This way, we prevented 70,915 tCO2e of greenhouse gas emissions from cocoa sources.
Operational Performance
Operational Excellence
Achievement with Continuous improvement Culture and Capabilities
- Net Loss 0.92% in 2023
- Overall Equipment Efficiency Improvement of 5% and enabled Efficiency gain of 11,000 tons for Chocolate Business and 15,000 tons for Bakery Business in the capacities of production facilities
- End-to-end Value Stream Mapping projects at all factories (11 VSM projects)
- IoT (Internet of Things) systems implemented successfuly at all factories. We leverage digital Technologies for designing Future of Manufacturing.
- LTAR (Lost time accident rate) continue downward with excellence culture.
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LTAR
9M'24 Diversified footprint provides unique scale to lead & grow
Türkiye growth numbers are IAS 29 adjusted regional growth numbers which are based on the local currency changes
9M'24 Revenue Breakdown With A Diverse Geographic Presence
IAS 29 adjusted numbers
Global Market Share
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9M'24 Revenue contribution of NPD's (New Product Launches)
Financial 03 Performance
Q3'24 Quarterly Consolidated Financials
Q3'24 Consolidated Volume&Revenue Contribution by Category
Total snacking sales volume was down by 2,7% compared to the same period last year led by a high base Q3'23 and volume mix impact
Total snacking revenue was up by 1,7% supported with domestic operations, new launches and volume mix impact
Q3'24 P&L Breakdown by region
INTERNATIONAL
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IAS 29 adjusted numbers
9M'24 Consolidated Financials
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IAS 29 adjusted numbers
International Operations EBITDA % Development in Years
Central Asia (HAMLE)
Balance Sheet Highlights
Average Working Capital Days Highlights
~68% of the net position is closed. Further hedges are Subject to the approval of Hedge Committee per market conditions.
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- As of Sep 2024, M\$407 of the open position is hedged
- Eurobond refinancing completed succesfully
- Above the soverign rating performance from Fitch & S&P
04 Outlook
Revised fiscal year 2024 guidance reflecting expectations of diminished purchasing power and prudent consumer sentiment
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IAS 29 adjusted management guidance
Thank You
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