Ülker Bisküvi Sanayi A.S. (UELKY) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello everybody, welcome to Hülker Bisküvi's second quarter operational and financial webcast. Here with me in the room, our CEO Mr. Özgür Kolukfaki and our CFO Mrs. Fulya Banu Surucu. Now I leave the ground to our CEO for the opening remark and operational performance. Özgür Bey. Yes, thanks Beste. Good afternoon, good morning and good evening everyone. And thank you for joining Hülker Bisküvi's second quarter 2026 earnings webcast. The first half of the year was characterized by a demanding consumer environment, increased promotions, elevated promotional activity, and continued geopolitical volatility in some of our international markets. Against this backdrop, our key priorities remained consistent, protecting the strength of our brands, maintaining consumer affordability, preserving market leadership, and managing the business with financial discipline. There are clearly areas of pressure in our reported financial performance, particularly around revenue and margins. At the same time, we are encouraged by the resilience of our volume performance, the contribution from our international operations and new product launches, and the continued strength of our market positions. Also, net income delivered the quarter's standout result with 45.5% year-on-year increase. Today, I will first walk you through the key highlights and operational performance. I will then hand over to our CFO Fulya for a detailed review of the financial results and balance sheet. I will come back at the end to discuss our updated outlook for the remainder of 2026. So, we will structure today's discussion around four areas. I will begin with the key messages from the quarter and some of the initiatives supporting the long-term strength of our business. I will then cover our operational performan...