TAB Gıda continues to grow

TAB Gıda continued its growth by reaching 1,615 restaurants in 81 cities at the end of 2023. In 2023, it increased system-wide sales volume by 106% to reach TRY 25 million. • TAB Gıda expanded its operations to a total of 81 cities in Turkey, Georgia, the Turkish Republic of Northern Cyprus and North Macedonia by the end of 2023, opening 183 new restaurants and reaching 1,615 restaurants. • In 2023, it served an average of 350 million customers and received 204 million orders. • TAB Gıda's net sales at the end of 2023 showed real growth of 20% in inflation-adjusted figures, reaching TRY 19,988 million. • Adjusted EBITDA in 2023 increased by 83% in inflation-adjusted figures to reach TRY 4,321 million. • Net income in 2023, based on inflation-adjusted figures, increased by 33% compared to the previous year to reach TRY 2,458 million. • Accelerating the pace of digitalization and new technology investments, TAB Gıda deployed various applications to elevate customer experience to the highest level. TAB Gıda Co-CEO Özgür Çetinkaya: "As TAB Gıda, we are pleased to demonstrate performance beyond the projections we shared with our investors during the public offering period." TAB Gıda Co-CEO Özgür Çetinkaya, stating that TAB Gıda's 2023 operational and financial success is a result of their strict adherence to strategic targets, maintaining financial balance and discipline while focusing on profitable growth, continued as follows: "Last year, we further strengthened our leading position in Turkey's quick-service restaurant sector. In 2023, we invested close to TRY 1.5 billion in both digitalization and new restaurant openings and renovations. We added 183 new restaurants to our system, reaching 1,615 restaurants. We operate 928 of our restaurants as TAB Gıda ourselves, and manage 687 with our franchise entrepreneurs. Including franchise operations, we employ over 22,000 employees. We rank among Turkey's leading companies in the number of female employees. We continue to grow stronger and expand every day together. Our inflation-adjusted revenues increased by 20% in real terms compared to the previous year, reaching TRY 19,988 million. Through disciplined financial and operational management and our profit-focused strategies, we increased our inflation-adjusted adjusted EBITDA by 83%, raising it to TRY 4,321 million. As a result of this remarkable financial performance, we increased our net income in real terms by 33%, raising it to TRY 2,458 million. The most important force behind the increase in our profitability is the synergy we create with our ecosystem companies. Through this, we achieve access to economies of scale with our unparalleled agile supply chain in the sector and are able to reduce our unit costs. We are extremely pleased to see an increase in franchise demand as a result of our operational and financial profitability, and this is accelerating our growth."

"We will increase our investments in digitalization and new technologies."

TAB Gıda Co-CEO Özgür Çetinkaya, stating that they accelerated their investments in digitalization and new technologies in 2023 and that the progress they made in digitalization made a significant contribution to their growth, said, "In 2023, as part of our digitalization investments, we began deploying self-service kiosks in our restaurants. These kiosks simplified the customer ordering process, reduced waiting times and took the customer experience to the highest level. Through marketing activities we carried out throughout the year, we reinforced our customers' loyalty to our brands and introduced our innovative products to our customers through seasonal campaigns. Thanks to the agile performance we demonstrated as a team, we not only provided superior service to our customers, but also fulfilled the commitments we made to our investors regarding strategic growth and profitability. The decisions we made and strategies we implemented in 2023 provided a solid foundation for us to reach our 2024 targets. We will maintain our leadership in the sector by combining our commitment to rapidly adapting to dynamic market conditions and continuous innovation with our investments in technology and digitalization."