Ulker Biskuvi Sanayi A.s. · BIST:ULKER

Ulker Biskuvi Sanayi A.s — Q1 2023 Earnings Presentation

26 slides from Ulker Biskuvi Sanayi A.s's earnings presentation, May 10, 2023

  1. Slide 1: Investor Presentation 1st Quarter 2023

    Investor Presentation 1st Quarter 2023 10 May 2023 1

  2. Slide 2: Agenda

    01 Business & Strategy Update Mete Buyurgan AGENDA 02 Quarterly Update 03 Domestic Operations 04 Export and International Operations 05 Acquisitions Update 06 Balance Sheet Highlights 07 2023 Guidance 2

  3. Slide 3: Outstanding start to the year beyond expectations

    Outstanding start to the year beyond expectations ✓ Robust topline growth driven by effective pricing & mix management ✓ Gross profit margin c.3ppt above prior year and Q422 showing very successful implementation of our strategies and tactics ✓ EBITDA reaching 2bnTL driving an exceptional EBITDA mar

  4. Slide 4: Great start to the year

    Great start to the year Market leader with #1 in macro 35% in snacking snacking business category A regional power with unique performance 23% consolidated 72% topline EBITDA growth margin 4

  5. Slide 5: Consolidated performance highlights

    23 Consolidated performance highlights Revenue 10.112 MTL 2.343 MTL EBITDA Growth + 71,8% Growth + 88,3% Gross 3.471 MTL Net Debt/ 2,03x Profit Growth + 87,7% EBITDA : 2,26x Gross 34,3% Margin Growth + 290bps 5

  6. Slide 6: Strong execution delivered

    Strong execution delivered CONSOLIDATED OPERATIONAL AND FINANCIAL PERFORMANCE Q1'23 Q1'22 % Q4'22 % Total Volume (Ton) 173.324 179.142 -3,2% 180.892 -4,2% Total Revenue 10.111.756 5.886.018 71,8% 9.017.967 12,1% Gross Profit 3.470.956 1.849.090 87,7% 2.840.815 22,2% Gross Profit Margin 34,3% 31,4% 2

  7. Slide 7: Agenda

    01 Business & Strategy Update Mete Buyurgan AGENDA 02 Quarterly Update 03 Domestic Operations 04 Export and International Operations 05 Acquisitions Update 06 Balance Sheet Highlights 07 2023 Guidance 7

  8. Slide 8: Strong start to the year excellent operational performance in Q1

    Strong start to the year excellent operational performance in Q1 Snacking Sales Volume (Ktons) Snacking Sales Value (Mtl) 157 153 5.664 9.840 12 12 369 668 58 58 2.678 5.048 87 83 2.617 4.124 Q1'22 Q1'23 Q1'22 Q1'23 BISCUIT CHOCOLATE CAKE BISCUIT CHOCOLATE CAKE • Total snacking sales volume decrease

  9. Slide 9: Agenda

    01 Business & Strategy Update Mete Buyurgan AGENDA 02 Quarterly Update 03 Domestic Operations 04 Export and International Operations 05 Acquisitions Update 06 Balance Sheet Highlights 07 2023 Guidance 9

  10. Slide 10: Strong #1 in total snacking with 35% market share

    Strong #1 in total snacking with 35% market share Biscuits 39% Market Share #1 Chocolate-40% Market Share #1 Cake-20% Market Share #2 #1 in Petit Beurre #1 in Creamy Biscuits 4 out of Top 5 in Chocolate Covered #1 in Family Cake #1 in Special Biscuits #2 in Cracker #2 in Portion Muffin Coated Cake #

  11. Slide 11: New Product Launches

    -NPD sales contribute 11% of total domestic sales in 2023 New Product Launches BISCUITS CAKE CHOCOLATE 11

  12. Slide 12: Domestic operations: We delivered outstanding results

    We delivered outstanding Snacking Volume Snacking Sales Gross Profit EBITDA (X000 Tons) (Mtl) (Mtl) (Mtl) 107 105 6.426 2.155 1.533 3.382 32,4% 23,0% 933 692 26,6% 19,7% Q1'22 Q1'23 Q1'22 Q1'23 Q1'22 Q1'23 Q1'22 Q1'23 • Snacking sales volume down by • Snacking revenue was up by • Gross profit record

  13. Slide 13: Agenda

    01 Business & Strategy Update Mete Buyurgan AGENDA 02 Quarterly Update 03 Domestic Operations 04 Export and International Operations 05 Acquisitions Update 06 Balance Sheet Highlights 07 2023 Guidance 13

  14. Slide 14: International: Solid growth in our key markets

    International : Solid growth in our key markets Biscuits 24,4% M.Share (*) #1 Biscuits-17,2% M.Share (*) #1 Chocolate-14,8% M.Share (*)#2 #1 in Plain #1 in Filled #1 in Filled (Biskrem and Tamr brands) #1 in Biscuits with Filling #1 Coated #2 in Filled Wafer #4 in Wafer #1 in Digestives #2 in Countl

  15. Slide 15: NPD Sales contributes

    NPD Sales contributes Saudi Arabia Egypt Kazakhstan 15

  16. Slide 16: Resilient demand and sound operational results with strong financial position

    Resilent demand and sound operational results with strong financial position Snacking Volume Snacking Sales Gross Profit EBITDA (X000 Tons) (Mtl) (Mtl) (Mtl) 50 47 3.414 1.316 810 2.282 916 553 23,5% 38,1% 38,5% 23,2% Q1'22 Q1'23 Q1'22 Q1'23 Q1'22 Q1'23 Q1'22 Q1'23 • Snacking volume decreased by • S

  17. Slide 17: Agenda

    01 Business & Strategy Update Mete Buyurgan AGENDA 02 Quarterly Update 03 Domestic Operations 04 Export and International Operations 05 Acquisitions Update 06 Balance Sheet Highlights 07 2023 Guidance 17

  18. Slide 18: Acquisition Highlights: reach a pivotal EBITDA margins

    Acquisition Highlights : reach a pivotal EBITDA margins Hi Food FMC Hamle UI MENA IBC (EGYPT) (KSA) (KAZAKHSTAN) (UAE) (KSA) (TR) March June March December May August 2016 2016 2017 2017 2018 2021 EBITDA Contribution of Acquisitions- 23 • Ability to act as local producer and regional production hubs

  19. Slide 19: Acquisition Highlights: EBITDA % development in years

    Acquisition Highlights : EBITDA % development in years NORTH AFRICA (HIFOOD) MIDDLE EAST (FMC-IBC-UI MENA) 14,8% 15,4% 16,7% 15,0% 11,5% 9,2% 9,8% %24,7 %24,5 %22,7 %23,9 %23,1 %22,6 %18,3 2017 2018 2019 2020 2021 2022 2023 Q1 2017 2018 2019 2020 2021 2022 2023 Q1 Current EBITDA % Total EBITDA Contr

  20. Slide 20: Agenda

    01 Business & Strategy Update Mete Buyurgan AGENDA 02 Quarterly Update 03 Domestic Operations 04 Export and International Operations 05 Acquisitions Update 06 Balance Sheet Highlights 07 2023 Guidance 20

  21. Slide 21: Disciplined financial management lead to a stronger balance sheet with improved ratios

    Disciplined financial management lead to a stronger balance sheet with improved ratios (*)Covenant Based Net Debt/Ebitda (X) Maturity Breakdown as of March 2023 2,3 49% 2,0 3,54x 3,54x 3,22x 51% 0,42x December 2022 March 2023 Short Term Long Term Average Working Capital Days & Net Working Capital FX

  22. Slide 22: Agenda

    01 Business & Strategy Update Mete Buyurgan AGENDA 02 Quarterly Update 03 Domestic Operations 04 Export and International Operations 05 Acquisitions Update 06 Balance Sheet Highlights 07 2023 Guidance 22

  23. Slide 23: 2023 Consolidated Guidance

    2023 Consolidated Guidance Net EBITDA Sales Margin 2022 REALISED 28,2BNTL 19,4% 2023 GUIDANCE 40,0BNTL 19,0% 23

  24. Slide 24: Strong growth and profitability continues

    Strong growth and profitability continues VOLUME 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 E CAGR % (‘000 ton) 478 480 514 646 670 644 674 681 660 681 676 3,5% 40.000 28.197 19,4% 19,7% 19,8% 19,8% 23.001,0 19,0% 22.001,0 17,4% 18,6% 21.001,0 15,0% 20.001,0 19.001,0 18.001,0 11,5% 12,6%

  25. Slide 25: Investor relations contact

    Investor relations contact For further E-Mail Phone information please e-mail ir@ulker.com.tr +90 (216) 524 25 56 or call 25

  26. Slide 26: 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 forward-looking statements which are based on certain expectations and assum

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