Ulker Biskuvi Sanayi A.s. · BIST:ULKER
Ulker Biskuvi Sanayi A.s — Q1 2026 Earnings Presentation
26 slides from Ulker Biskuvi Sanayi A.s's earnings presentation, May 12, 2026
Slide 1: Ülker Bisküvi 1Q'26 Earnings
ÜLKER BİSKÜVİ 1Q’26 EARNINGS 1
Slide 2: Agenda
AGENDA Operational Financial 01 Key Highlights 02 Performance 03 Performance 04 Outlook 2
Slide 3: Key Highlights
Key Highlights 3
Slide 4: Macroeconomic highlights
Macroeconomic highlights Key Economic Indicators in Türkiye GDP Growth Rate(%) Consumer Price Index 11,8 CPI PPI Expected inflation : 15%–21% (2026) 49,4 Source: Central Bank 44,4 38,1 35,1 5,4 33,3 30,9 30,9 5 6,6 3,3 3,5 3,7 33,1 28,5 26,6 27,7 28,1 23,5 24,5 3,8 3,5 3,3 3,3 3,3 M09 24 M12 24 M03
Slide 5: Today's key messages
Today’s key messages IN TÜRKİYE, OUR CORE PROTECTING OUR DELIVERED TL 1.6 BILLION CATEGORIES CONTINUED TO VOLUME IN THE NET INCOME IN 1Q26, SHOW RESILIENCE, CONTRACTING MARKET 01 DEMONSTRATING OUR ABILITY TO PROTECT EARNINGS IN A VOLATILE 02 AND CONSOLIDATED VOLUMES REMAINED 03 SUPPORTED BY THE STRE
Slide 6: New product launches
New product launches DOMESTIC INTERNATIONAL 6
Slide 7: 1Q'26 Revenue contribution of NPD's
1Q’26 Revenue contribution of NPD’s (New Product Launches) 10% 6% 9% Domestic International Total Revenue contribution is calculated over snacking revenue 7 IAS 29 adjusted numbers
Slide 8: Sustainability highlights
Sustainability highlights Beyond Cocoa is progressing successfully by reaching 6 cooperatives and ensuring 100% deforestation-free verification. Our Farmer Keeping our 1st rank position in the LSEG We reached 100% Recycle Ready School, launched last year, has provided six months of list packaging Öd
Slide 9: Corporate communications highlights
Corporate communications highlights Ramadan Festivals in the Heart of Education Minister of Industry - Factory Reception Supported a nationwide Hosted Türkiye’s Minister Ramadan education of Industry and initiative across all 81 Technology at our Gebze provinces with the Factory, a key hub for Minis
Slide 10: Our people and employer brand highlights
Our people and employer brand highlights Recognized as one of the world’s The first company to get certified in the best employers for the fifth Snacks/Snacking industry with 5,000+ consecutive year. employees in the world. Within the performance Since the beginning of 2026, management process: coll
Slide 11: Operational Performance
Operational 02 Performance 11
Slide 12: TÜRKİYE main confectionery market
TÜRKİYE main confectionery market ▪ Consumers are cutting discretionary cash spending and shifting toward long-term savings ▪ FMCG unit volume growth has slowed beyond essential categories like chocolate TÜRKİYE Main confectionery market % change 6,2 4,9 4,3 -0,4 -1,4 -2,5 -2,4 -4,2 -3,7 -4,5 2021 2
Slide 13: A diverse presence offers a distinct scale
1Q’26 -A diverse presence offers a distinct scale to drive leadership and growth Türkiye Central Asia -5,8% 23,9% 1Q’26 1Q’26 Revenue Growth Revenue Growth -27,7% -86,7% EBITDA Growth EBITDA Growth Türkiye Exports Middle East -1,4% 6,4% North Africa 1Q’26 1Q’26 Revenue Growth Revenue Growth -30,1% -
Slide 14: Uzbekistan 1Q26 Brand-led strategic investment
UZBEKISTAN 1Q26 Brand-led strategic investment Market-building agenda presented through NPDs, campaign intensity and route-to-market expansion 1 NEW NPDs 2 BRAND CAMPAIGNS 3 ROUTE TO MARKET Karakalpakstan Navoi Khorezm Toshkent Namangan Andijon Ferghana Jizzakh Sirdaryo Bukhoro Samarkand Kashkadarya
Slide 15: 1Q'26 Revenue breakdown
1Q’26 Revenue breakdown With a diverse geographic presence Geographic Revenue Mix Net Revenue By Region TRY 33,9Bn ME; 11% NA; 3% CA; 3% TRY24,5B TRY9,4B TRY33,9 TR EXPORT; Billion 11% Domestic International 72% 28% DOMESTIC; 72% IAS 29 adjusted numbers 15
Slide 16: Global market share
Global market share TÜRKİYE MIDDLE EAST NORTH AFRICA CENTRAL ASIA Chocolate Biscuit Biscuit Biscuit Chocolate Cake 34% 28% 13% 14% Source: Nielsen -Share of Sales Value YTD March’2026 16
Slide 17: Financial Performance
Financial 03 Performance 17
Slide 18: 1Q'26: Consolidated performance
1Q’26: Consolidated performance Total Volume (Kton X000) Total Revenue (MTL) Gross Profit (MTL) 0,1% -3,9% 33,4% -19,9% 27,9% 182 182 35.285 33.906 11.798 9.452 1Q'25 1Q'26 1Q'25 1Q'26 1Q'25 1Q'26 EBITDA (MTL) Net Income (MTL) 20,3% -28,5% 15,1% 9,0% -49,8% 4,7% 7.177 3.158 5.130 1.586 1Q'25 1Q'26 1
Slide 19: Q4'25 vs Q1'26 Performance comparison
Q4’25(1) vs Q1’26 Performance comparison Total Volume (Kton X000) Total Revenue (MTL) Gross Profit (MTL) 12,2% 24,9% 25,9% 27,9% 2,2% 179 182 30.211 33.906 9.452 7.509 4Q'25 1Q'26 4Q'25 1Q'26 4Q'25 1Q'26 EBITDA (MTL) Market(2) Contraction 12,4% 36,8% 15,1% 1Q'26 vs 4Q'25 SOLID TOTAL SNACKING 3.749 5
Slide 20: 1Q'26 P&L Breakdown by region
1Q’26 P&L Breakdown by region DOMESTIC Total Revenue (MTL) Gross Profit (MTL) EBITDA (MTL) 30,9% -21,2% 25,9% -27,7% -5,8% 19,9% 15,3% 8.036 5.183 25.997 24.480 6.331 3.750 1Q'25 1Q'26 1Q'25 1Q'26 1Q'25 1Q'26 INTERNATIONAL Total Revenue (MTL) Gross Profit (MTL) EBITDA (MTL) 1,5% 40,5% 33,1% -17,0% 2
Slide 21: 1Q'26 Consolidated volume & revenue contribution by category
1Q’26 Consolidated volume & revenue contribution by category Snacking Sales Volume Snacking Sales Value 33.837 32.601 162 163 Mtl Mtl Kton Kton 9% 9% 7% 7% 38% 37% 60% 59% 53% 54% 33% 34% 1Q'25 1Q'26 1Q'25 1Q'26 Biscuit Chocolate Cake Biscuit Chocolate Cake Snacking sales volume increased by 0.3% ye
Slide 22: Balance sheet highlights
Balance sheet highlights (*)Covenant Based Net Debt/Ebitda (X) Maturity Breakdown of Financial Liabilities as of March’26 1,33 0,97 70% Long Term 30% Short Term December'25 March-26 Turnover(days) Highlights The leverage ratio is 1,33X; 107 As of March 2026, the open position has been hedged using d
Slide 23: Outlook
04 Outlook 23
Slide 24: 2026 Guidance
2026 Guidance Our 2026 guidance reflects a cautious outlook amid market turbulence, while continuous risk mitigation, operational discipline, and proactive action plans remain central to our management focus YoY Net EBITDA Sales Margin Growth 2026 GUIDANCE Flat 13,5% (+ - 1,5%) Based on IAS-29 adjus
Slide 25: Disclaimer
Disclaimer •This presentation contains information and analysis on financial statements and is prepared for the sole purpose of providing information relating to Ülker Bisküvi Sanayi A.Ş. (“Ülker”). •This presentation contains “anticipatory expressions”. Excluding the retrospective information, all
Slide 26: Thank You
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Ülker Bisküvi Sanayi A.S. — Q1 2026 Earnings Presentation on 6ix