Ulker Biskuvi Sanayi A.s. · BIST:ULKER

Ulker Biskuvi Sanayi A.s — Q3 2015 Earnings Presentation

11 slides from Ulker Biskuvi Sanayi A.s's earnings presentation, Nov 6, 2015

  1. Slide 1: Turkey's Largest Food Company – Third Quarter 2015 Financial Results

    “Turkey’s Largest Food Company” Third Quarter 2015 Financial Results November 6, 2015 Borsa Istanbul: ULKER ULKER.TI (Bloomberg) | ULKER IS (Reuters) www.ulkerbiskuvi.com.tr

  2. Slide 2: Disclaimer

    Disclaimer This presentation contains information and analysis on financial statements and is prepared for the sole purpose of providing information relating to Ülker. This presentation contains forward-looking statements which are based on certain expectations and assumptions at the time of publica

  3. Slide 3: Turkey Macro Economic Overview

    Turkey Macro Economic Overview GDP Growth (%) 2014 GDP Growth of 2.9% 5,3  GDP grew by 3.8% in 2Q15 thanks to 4,7 4,6 5,1 3,1 2,8 3,1 4,3 2,7 2,5 3,8 household spending & high 2,4 1,8 1,5 1,3 contribution from private investments 2011 Q4 2012 Q1 2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3 2013

  4. Slide 4: Market Growth

    Market Growth  Confectionery market contracted after 12 quarters of growth with Source: ACNielsen 1.8%  Biscuit market continues to grow however at a low speed  Chocolate market contracted by 14% in the third quarter of 2015  Cake market growth remained solid 4

  5. Slide 5: Breakdown of Net Sales (Volume)

    Breakdown of Net Sales Breakdown of Sales Volume (Tons)  Consolidated sales volume was down by 6.5% in 3Q15 attributable to: Cake 354.441 335.065  Low exports volume Chocolate Biscuit 49.708 47.250  SKU optimization in Biskot 111.094 98.974 111.588 104.345  Postponement of school openings 15.466

  6. Slide 6: Breakdown of Net Sales (Revenue)

    Breakdown of Net Sales Breakdown of Sales Revenue (TL mn)  Consolidated sales revenue was up by 4.7% in 3Q15 primarily as a result of: Other Cake 2,123.2 2,215.1 Chocolate Biscuit  Carry on price increases & downsizings 24,7 4,5 impact 283,2 257,9 986,1 1.012,3  Mix impact 672.7 704.2  Exports w

  7. Slide 7: Gross Profit & EBITDA

    Gross Profit & EBITDA Gross Profit (TL mn)  Gross profit increased by 16.4% to TL 146.1 mn in Margin 18.7% 20.7% 20.8% 22.0% 3Q15 441,4 487,7  Gross margin expanded by 2.0 pp to 20.7% due to; • Carry on price increase and downsize impact 146,1 125,5 • Mix impact • Lower discount 3Q2014 3Q2015 9M20

  8. Slide 8: FX and Net Profit

    FX and Net Profit Net Foreign Exchange Gain/Loss  Net foreign exchange loss was TL loss (TL mn) 3Q 2014 3Q 2015 9M 2014 9M 2015 of TL 34.1 mn in 3Q15 Net Foreign Exchange Gain/Loss From Operations 2.7 0.1 4.0 6.3 • TL 377 mn of short FX position as of Net Foreign Exchange September 30, 2015 Gain/Lo

  9. Slide 9: Cash Cycle and Net Debt

    Cash Cycle and Net Debt  Cash Cycle of 39 days in 9M15 Net Debt (TL mn)  Net debt stands at TL 395 mn, as of September 30, 2015 395 301 102 96 55 2011 2012 2013 2014 9M15 9

  10. Slide 10: Questions & Answers

    “Turkey’s Largest Food Company” Questions & Answers 10

  11. Slide 11: Ülker contact details

    Kısıklı Mahallesi Ferah Caddesi No:1 34692 B. Çamlıca / Üsküdar / İstanbul Türkiye For more information, please contact us + 90 (216) 524 25 56, or email us at ir@ulker.com.tr www.ulkerbiskuvi.com.tr

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