Ülker Bisküvi Posts TRY 10.1 Billion Revenue in First Quarter

Ülker Bisküvi announced that the company disclosed its financial results to the Public Disclosure Platform (KAP). In the first quarter of this year, the company reached revenue of TRY 10.1 billion, with Turkey operations accounting for 66% of revenue and exports and overseas operations accounting for 34% of revenue. In the statement, Ülker CEO Mete Buyurgan, whose views were included, said that Ülker Bisküvi continues to contribute to Turkey through all its activities. Buyurgan stated: "On 6 February, a major earthquake disaster affected 11 provinces and deeply wounded all of us. From the first day of the earthquake, we took action very quickly and sent our products to the region. We stood by and continue to stand by disaster victims by sending Nutritious Biscuits, which we developed in a very short time, to the disaster area. On the other hand, we completed the first quarter of 2023, which started quite challenging, with very successful results." Noting that they signed important syndication credit agreements in the first quarter of the year, Buyurgan stated that they signed a total of USD 248 million in credit agreements led by Bank of America, Coöperatieve Rabo Bank U.A. and Emirates NBD Bank Capital Limited; with participation from JP Morgan Chase Bank, N.A, Sharjah Islamic Bank PJSC and Gulf Bank. Stating that they also completed a credit agreement worth EUR 75 million with the European Bank for Reconstruction and Development (EBRD), Buyurgan commented: "These agreements are an indicator of international banks' confidence in our company and our country, while standing out as Ülker's first sustainability-linked agreements. We continued our sustainability approach, which is at the center of our business conduct, in the financing area as well."   Source