Ulker Biskuvi Sanayi A.s. · BIST:ULKER

Ulker Biskuvi Sanayi A.s — Q1 2024 Earnings Presentation

20 slides from Ulker Biskuvi Sanayi A.s's earnings presentation, August 2024

  1. Slide 1: Ülker Bisküvi 1Q24 Earnings

    ÜLKER BİSKÜVİ 1Q24 EARNINGS 1

  2. Slide 2: Quarterly Update, Operational Performance, Financial Performance, Outlook

    Quarterly Operational Financial 01 Update 02 Performance 03 Performance 04 Outlook 2

  3. Slide 3: Quarterly Update

    Quarterly Update 3

  4. Slide 4: Maintains leading position in main snacking; solid top-line growth

    • Maintains leading position in • Solid top-line growth Won Gender Awards in supporting main snacking female farmers in Ivory cost • Strong price execution • Successful Eid period by • Effective cost management Aliağa Weat Project won Social reflecting our leadership in all responsibility award • Re

  5. Slide 5: Operational Performance

    Operational 02 Performance 5

  6. Slide 6: Achievement with Continuous Improvement Culture and Capabilities

    Achievement with Continuous improvement Culture and Capabilities • Net Loss 1.06% in 2022, reduced to 0.9%. • 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 facilitie

  7. Slide 7: Revenue and EBITDA growth by region 1Q24

    Turkey Central Asia +16,9% +1,5% 1Q24 Revenue Growth 1Q24 Revenue Growth +14,2% -22,2% EBITDA Growth EBITDA Growth Turkey Exports Middle East +4,3% 1,3% North Africa Revenue Growth 1Q24 1Q24 Revenue Growth +7,2% -6% EBITDA Growth EBITDA Growth 1Q24 +67,0% Revenue Growth +59,6% EBITDA Growth 7 Growth

  8. Slide 8: Balanced Geographic Revenue Mix, Net Revenue by Division

    Balanced Geographic Revenue Mix Net Revenue By Division TRY19,6Bn EXPORT; 11% CA; 4% NA; 3% TRY13,5B TRY6,1B TRY19,6 Billion ME; 13% DOMESTIC; Domestic International 68% 68% 32% IAS 29 adjusted numbers 8

  9. Slide 9: Product mix by region

    TÜRKİYE MIDDLE EAST NORTH AFRICA CENTRAL ASIA Chocolate Biscuit Biscuit Biscuit Chocolate Cake %34 %28 %15 %16 9

  10. Slide 10: Domestic, International, Total revenue contribution

    11 % 7 % 10 % Domestic International Total Revenue contribution is calculated over snacking revenue 10 IAS 29 adjusted numbers

  11. Slide 11: Financial Performance

    Financial 03 Performance 11

  12. Slide 12: Volume, Revenue, Gross Profit, EBITDA, Net Income, Net Debt/EBITDA

    Total Volume (Kton X000) Total Revenue (Mtl) Gross Profit (Mtl) 18% 32,0% 15% 13% 30,7% 200 19.601 173 17.347 6.265 5.332 Q1'23 Q1'24 Q1'23 Q1'24 Q1'23 Q1'24 EBITDA (Mtl) Net Income (Mtl) Net Debt / EBITDA (x) 20,6% -2,6% 20,6% 13,2% 2.226 2.167 3.572 4.042 1,54 1,48 Q1'23 Q1'24 Q1'23 Q1'24 FY'23 Q1

  13. Slide 13: Snacking Sales Volume and Value

    Snacking Sales Volume Snacking Sales Value 179 16.878 19.010 153 Kton Mtl Mtl Kton 8% 8% 7% 7% 38% 40% 51% 54% 54% 51% 42% 39% 1Q'23 1Q'24 1Q'23 1Q'24 Biscuit Chocolate Cake Biscuit Chocolate Cake -Total snacking sales volume increased by 17% in 1Q 2024 supported -Total snacking revenue increased by

  14. Slide 14: Domestic and International Revenue, Gross Profit, EBITDA

    DOMESTIC Total Revenue Gross Profit EBITDA 18% 17% 28,0% 19,7% 19,2% 27,8% 14% 13.417 3.756 2.260 2.582 11.477 3.195 1Q'23 1Q'24 1Q'23 1Q'24 1Q'23 1Q'24 INTERNATIONAL Total Revenue Gross Profit EBITDA 40,6% 23,6% 5% 17% 22,4% 36,4% 11% 5.870 6.184 2.509 1.312 1.461 2.137 1Q'23 1Q'24 1Q'23 1Q'24 1Q'2

  15. Slide 15: North Africa, Middle East, Central Asia EBITDA contribution

    North Africa (HIFOOD) Middle East (FMC-IBC-UI MENA) Central Asia (HAMLE) 24,5 23,9 23,1 18,0 16,7 22,7 22,6 22,4 16,8 14,8 15,4 20,7 15,5 14,5 14,1 14,2 14,4 18,3 14,0 11,5 9,3 9,8 9,2 6,7 2024 1Q 2017 2018 2019 2020 2021 2022 2023 2024 1Q 2017 2018 2019 2020 2021 2022 2023 2024 1Q 2017 2018 2019 20

  16. Slide 16: Net Debt/EBITDA, Maturity Breakdown, Working Capital Highlights

    (*)Covenant Based Net Debt/Ebitda (X) Maturity Breakdown of Financial Liabilities as of March’24 1,58 82% 1,49 Long Term Short Term 18% Dec-23 March-24 Average Working Capital Days & Net Working Capital Highlights 82 Days 91 Days 68 65 71 ~65% of the net position is closed. Further hedges are 64 50

  17. Slide 17: Outlook

    04 Outlook 17

  18. Slide 18: Management Guidance

    Net EBITDA Sales Margin GUIDANCE ~85.0BNTL ~18.5% IAS 29 adjusted management guidance 18

  19. Slide 19: Inflationary Challenges vs. Actions and strategic priorities

    01 INFLATIONARY CHALLENGES VS. ACTIONS Inflation moderating and should act as tailwind for input-costs 02 PRICE VS. VOLUME Volume to rebound, albeit a slower recovery as pricing moderates 03 INVESTMENT IN BRAND AND INNOVATION Creating value by offering customers new consumption experiences and choic

  20. Slide 20: Thank You

    Thank You 20

Ülker Bisküvi Sanayi A.Ş. — Q1 2024 Earnings Presentation on 6ix