Ulker Biskuvi Sanayi A.s.BIST: ULKER

ULKER: Q4 softness led to margin pressure, but 2026 outlook is positive with strong fundamentals

· Issued by Ulker Biskuvi Sanayi A.s.

2025 saw resilient performance with 2% revenue growth and strong innovation, but Q4 was impacted by demand softness in Turkey and the Middle East, leading to lower margins. Management expects normalization and a strong start to 2026, supported by robust balance sheet and strategic focus.

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