Ülker Bisküvi Sanayi A.S. (UELKY) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Beste, please go ahead, ma'am. Thank you, Michael. Hello, everybody. My name is Beste. I am leading the Investor Relations Department of Ülker Biskri. Welcome to Ülker Biskri's full year 2025 results webcast. Here with me in the room, our CEO Özgür Körükböke and our CFO Fulya Banu Sürücü is here. Now I'll leave the ground to our CEO, Özgür Bey. Please. Thank you, Mr. Good morning, good afternoon, everyone, wherever you are. And thank you for joining UKB's fourth quarter and cool year 2025 earnings goal. I walk you through our results, strategic progress, and also 2026 roadmap. I'll start with key highlights, then review operation and financial performance, and close with our outlook and 2026 growth plan. And then, as usual, we will take a few questions at the end. Looking at the key highlights, 2025 was a resilient year despite of softer demand and regional challenges. We maintained our leadership in Turkey and sanctioned regional competitiveness. Innovation scaled strongly, contributing meaningfully to the growth. Balance sheet discipline remains as a core strength of ours, and ECG progress continues to differentiate Ülker in our sector as a pioneering company. Looking at the macroeconomic highlights, Turkey operated in a high inflation environment with low confidence consumer environment. Looking at the inflation, the inflation is around, we finished the year with 30.9% consumer inflation, where the PPI was slightly lower than that, with 27.7%. Looking at the breakdown of the inflation, the highest inflation we see in the education, with 66%, and rent following is 49.5%. and then after versus food with more than 28%. GDP expectations remain in slow single digits, reflecting a cautious backdrop compared to previous years. Consumer confidence stayed around mid-80 lev...