Ulker Biskuvi Sanayi A.s. · BIST:ULKER
Ulker Biskuvi Sanayi A.s — Q3 2023 Earnings Presentation
27 slides from Ulker Biskuvi Sanayi A.s's earnings presentation, Nov 10, 2023
Slide 1: Investor Presentation 3rd Quarter 2023
Investor Presentation 3™¢ Quarter 2023 2 istanbul, 10 November 2023 oe | :
Slide 2: Agenda
AGENDA usiness
Slide 3: Solid performance continues in Q3'23
Solid performance continues in Q3’23 vY Broad-based top line growth ; driven by strong «back to school», new launches and timely pricing v¥ Outperforming robust momentum in Gross profit margin 610 bps above prior year showing very successful implementation of our strategies and tactics ¥ Q3'23 EBITD
Slide 4: 9M'23 Consolidated performance highlights
@ 9M‘23 Consolidated performance highlights 6.927 mTL Growth + (" 90,7% eel, : 32.032 MTL | Growth+ /* 67,0% 10.654 mTL Growth + | 91,4% “sep'23 :1,91x Dec'22 :2,26x J Net Debt/ EBITDA
Slide 5: Q3'23 Consolidated performance highlights
@ Q3'23 Consolidated performance highlights al. | 12.409 mTL | Growth+ /§ 69,9% 2.669 mtTL - Growth + 112,9% 4.186 MTL Growth + | 107,1% Sep'23 :1,91x 5 Dec'22 : 2,26x Net Debt/ EBITDA
Slide 6: Consolidated operational and financial performance
€ Consolidated operational and financial performance SC Total Volume (Ton) 177.702 163.406 Total Revenue 12.408.578 7.301.821 69,9% Gross Profit 4.186.235 2.020.902 107,1% Gross Profit Margin 33,7% 27,7% 6,1 ppt EBITDA 2.669.171 1.253.751 112,9% EBITDA Margin 21,5% 17,2% 4,3 ppt Net Income / Loss (E
Slide 7: Agenda
AGENDA 2) c 9 x ea @ -_ < Cc xo] a ot
Slide 8: Snacking Sales Volume and Value
Snacking Sales Volume (Ktons) Q3'22 Q3'23 MBISCUIT m CHOCOLATE mCAKE * Total snacking sales volume increased by 7,9% in Q3’23 partly driven by high base impact and change in the category/product mix * Biscuit volume increased by 6,5% due to strong Consumer demand supported with «back to school » act
Slide 9: 9
9
Slide 10: Türkiye - Strong #1 in total snacking
@ Tirkiye - Strong #1 in total snacking Biscuits-39% Market Share Chocolate-39% Market Share Cake-21% Market Share #1in Petit Beurre #1in Creamy Biscuits 4 out of Top 5 in Chocolate Covered #1in Family Cake #1 in Special Biscuits #2 in Cracker 5 zz #2 in Portion Muffin Coated Cake Fe ; . #1in Solid
Slide 11: 2023 New Product Launches
et 2023 New Product Launches
Slide 12: Outstanding Q3'23 results in Turkiye - Growth in all metrics
& Outstanding Q3’23 results in Turkiye - Growth in all metrics a Q3'22 Q3'23 * Snacking sales volume increased by 8,5% supported with successfully implemented «back to school» activities, effective marketing campaigns and new product launches. * Snacking revenue was up by 68,2% and total revenue inc
Slide 13: Results beyond expectations in 9M'23
é Results beyond expectations in 9M’'23 Snacking Volume Snacking Sales Gross Profit EBITDA (X000 Tons) (Mtl) (Mtl) (Mtl) 307 314 9M'22 9M'23 * Snacking sales volume was up by 2,5% and total volume increased by 2,2% mainly driven by category mix impact 20.084 11.434 9M'22 9M'23 + Snacking revenue was
Slide 14: Agenda
AGENDA Fo ) Export and International Operations
Slide 15: International: Continue to grow in our main hubs
@nternational : Continue to grow in our main hubs =~ Biscuits—23,5% M.Share (*) é Biscuits-18,6% M.Share (*) Chocolate-16,6% M.Share (*) #1in Plain #1in Filled #1 in Filled (Biskrem and Tamr brands) #1in Biscuits with Filling #1Coated #2inFilledWafer #4in Wafer #1in Digestives #2 in Countline 5 aa =
Slide 16: Saudi Arabia
v Saudi Arabia Mi GODIV. Co Kazakhstan
Slide 17: Strong 9M'23 performance
é Strong 9M'23 performance Snacking Volume Snacking Sales Gross Profit EBITDA (X000 Tons) (Mtl) (Mtl) (Mtl) 132 128 QM'22 QM'23 * Snacking volume decreased by 2,8% onthe back of pricing and sizing activities in biscuits category *On the back of effective pricing strategy and supported with currency
Slide 18: International Operations
@ International Operations Hi Food Hamle UI MENA ONEM (EGYPT) (KAZAKHSTAN) (UAE) (TR) i — meal « e e e * March December August 2017 2017 2021 of International Busines FMC; 23,44% International Operations; 36% TR Export; 45,27% IBC; 9,19% Domestic Operations; 64% Hifood; 7,09% UI MENA; Hamle; 9,14% 5
Slide 19: International operations EBITDA % development in years
@ International operations EBITDA % development in years NORTH AFRICA (HIFOOD) MIDDLE EAST (FMC-IBC-UI MENA) EBITDA % %14,8 %15,4 Sy? %14,7 " " %24, %22,7 %23,9 %23,1 %22,6 %21,4 61,5 %9,2 %9,8 Gi %18,3 fel a —_— 0 2016 2018 2019 2020 2021 2022 2023 Q3 2017 2018 2019 2020 2021 2022 2023 03 Current E
Slide 20: Agenda
AGENDA Fos ) Balance Sheet Highlights
Slide 21: Disciplined financial management lead to a stronger balance sheet
& Disciplined financial management lead to a stronger balance sheet with improved ratios Maturity Breakdown of Financial Liabilities as of September ‘23 (*)Covenant Based Net Debt/Ebitda (X) 2,30 2,40 1,98 _ a _ 83% December 2022 June 2023 September 2023 mShort Term mLong Term Average Working Capita
Slide 22: Appendix
° VON39V
Slide 23: 2023 Consolidated Guidance
€ 2023 Consolidated Guidance EBITDA Margin 2022 REALISED 2023 REVISED GUIDANCE -— Q2’23 2023 REVISED GUIDANCE Q3’23 19,00%
Slide 24: Volume and revenue growth 2013-2023
VOLUME 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 E CAGR % (‘000 ton) 478 480 514 646 670 644 674 681 660 681 683 3,6% 42.500 28.197 12.537 9.716 8.002 5.034 6.156 3.794 4.585 2.748 2.891 (*) Figues are in million TL 24
Slide 25: Questions & Answers
v Questions& Answers 2 @LKER
Slide 26: Investor relations contact
@ Investor relations contact For further information please e-mail ir@ulker.com.tr +90 (216) 524 2556 or call ® 2 GLKER
Slide 27: 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 forward-looking statements which are based on certain expectations and assumptions at t
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