Yıldız Holding Targets TRY 2.5 Billion Investment in 2022

Yıldız Holding Plans TRY 2.5 Billion Investment in 2022 Yıldız Holding Board Chairman Ali Ülker stated that the company plans to invest TRY 2.5 billion domestically this year, noting that the holding has reduced its debt from USD 6.5 billion to USD 1.7 billion. Yıldız Holding Board Chairman Ali Ülker met with the business press at a roundtable discussion. In his remarks, Ülker reported that Yıldız Holding, which continues profitable growth through its focus strategy, continues to contribute to Turkey's economy with strong financial performance and stability. Speaking about the strategies implemented over the past 10 years, Ülker explained that they transitioned to global operations with Godiva, but growth projections always developed around an approach that kept Turkey at the center. Ülker noted that through the subsequent acquisition of United Biscuits, they continued to grow with global brands, positioning themselves as the world's second-largest biscuit manufacturer globally. Ülker stated that Yıldız Holding has become a global Turkish company through both partnerships with leading foreign companies in its sector and strategic acquisitions abroad, saying "In other words, we have transformed into a major global Turkish company on which the sun never sets."

Discussing the contributions of the Godiva brand, Ülker reported that many countries now receive Godiva branded products shipped from Istanbul, and he referred to production bases located in different geographies. Ülker explained how this situation has benefited the company during regional economic difficulties.

"Yıldız Holding supplies products and services worldwide" Ali Ülker, stating that Yıldız Holding, which focuses on food and retail, supplies products and services worldwide, said that Turkish flags and flags bearing the Yıldız Holding logo are flying at facilities in the United Kingdom, France, the United States, Italy, Nigeria, Egypt, Romania, Saudi Arabia, India, Brunei, Kazakhstan and the Netherlands. Speaking of the holding's significant economic contribution to the country through sales and export revenues, Ülker stated that they sold value-added businesses that they had grown with their expertise as highly profitable companies and used the proceeds to support core operations. Referencing companies sold by Yıldız Holding in recent years, Ülker said they have transitioned to a leaner, more easily manageable structure by focusing on their main lines of business, food and retail. Ülker said the holding operates a total of 46 factories, 25 of which are domestic, that hundreds of products and projects are developed annually in 9 R&D centers, and these products are offered to consumers worldwide, mentioning the activities of the R&D teams at Kerevitaş, Besler and Ülker Bisküvi.

"Our revenue reached TRY 100 billion"

Ülker noted that the company currently employs approximately 72,000 people domestically and abroad, with 61,884 employed in Turkey. He explained that 8 companies within the holding are listed on the stock exchange, processes operate completely transparently and independently, and the management team is becoming increasingly global. Ülker stated that revenues have increased 2.3 times over the past 4 years, reaching TRY 100 billion as of 2021, with 40 percent of this revenue coming from abroad. Providing information that total investments domestically and abroad reached TRY 2.2 billion last year, Ülker said, "Over the past 5 years, our total investments domestically and abroad amounted to TRY 7 billion. The budgeted investment amount for our companies in Turkey for 2022 is TRY 2.5 billion."

"Our debt fell from USD 6.5 billion to USD 1.7 billion"

Ali Ülker reminded that in addition to the initial public offering processes of Şok and Penta, they sold Med Gıda, Aktül Kağıt, Kellogg, Ak Alev, Sebat, Özen, Della, Nesos, Unmaş, Kümaş, İçecek Grubu, Propak, Cafe Crown and Pendik Nişasta as well as Godiva's operations in 4 countries. Ülker noted that the company reduced its debt from USD 6.5 billion prior to the 2018 syndication to USD 1.7 billion as of 2022, noting that they accomplished this through USD 2.6 billion in asset sales and utilized a portion of the USD 1.3 billion from Godiva's licensing rights. Saying "Our debt prior to syndication fell from USD 6.5 billion to USD 1.7 billion," Ülker emphasized that they made full and early payments despite Covid-19 conditions. Ülker stated, "In other words, regardless of conditions, through intense labor, investment and dedication, with the income we generated from our work, we continued to support Turkey's financial system by paying our debts to domestic banks ahead of schedule."

Snack exports to more than 100 countries from the US to China

Yıldız Holding Board Chairman Ülker stated that the company exported USD 678 million in 2021, with this figure reaching USD 3.6 billion over the past 5 years, noting an annual average of approximately USD 700 million. Ülker explained that they have made Turkey a production and export hub, stating that alongside Ülker branded products, they produce global snack brands such as Godiva, McVitie's and Flipz here and bring them to consumers worldwide. Ülker reported that despite the pandemic's difficult conditions in 2021, USD 291 million in snacks exports were achieved under the Ülker Bisküvi umbrella, and that they export snacks to more than 100 countries including the United States, United Kingdom, China, Kenya, Australia, Madagascar, the Netherlands and Ghana.