Ülker Bisküvi Sanayi A.S. (UELKY) Q4 2025 Press Conference Call Transcript

SA Transcripts158.93K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call Ülker Bisküvi Sanayi A.S. (UELKY) Q4 2025 Press Conference Call March 11, 2026 9:00 AM EDT Company Participants Verda Tasar - Director of Investor RelationsOzgur Kolukfaki - CEO & Executive DirectorFulya Surucu - Chief Financial Officer Conference Call Participants Evgeniya BystrovaCemal Demirtas - Ata Invest Co., Research DivisionIvo Kovachev - J O Hambro Capital Management LimitedAli Akkoyunlu - Gedik Yatirim Menkul Degerler A.S., Research Division Presentation Verda TasarDirector of Investor Relations Hello, everybody. My name is Beste, I am leading the Investor Relations department of Ulker Biskuvi. Welcome to Ulker Biskuvi's Full Year 2025 Results webcast. Here with me in the room are CEO, Ozgur Kolukfaki; and our CFO, Fulya Banu Surucu. Now I leave the ground to our CEO, Ozgur Bey, please. Ozgur KolukfakiCEO & Executive Director Thank you, Beste. Good morning, good afternoon, everyone, wherever you are, and thank you for joining Ulker Biskuvi's Fourth Quarter and Full Year 2025 earnings call. I'll walk you through our results, strategic progress and also 2026 road map. 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 softer demand and regional challenges. We maintained our leadership in Turkiye and strengthened regional competitiveness. Innovation scaled strongly, contributing meaningfully to the growth. Balance sheet discipline remains as a core strength of ours. And [ ESG ] progress continue to differentiate Ulker in our sector as a pioneering company. Looking at the macroeconomic highlights. Turkiye operated in a high inflation environment with low confidence consumer environment. Looking at inflation, the inflation is around -- we finished year with 30.9% consumer inflation, where the PPI was slightly lower than to 27.7%. And looking