Earnings Report /
Turkey

Ulker Biskuvi Sanayi AS: Bottomline weaker than expected due to Onem Gıda acquisition impact

  • Realised TL2mn net income, falling short of  our estimate of TL38mn and consensus estimate of TL32mn net income

  • Topline growth of 29.9% was 1.5% above of our estimates

  • EBITDA margin of 16.9% was 60bps above our estimates and 40bps above consensus

Cemal Demirtas
Cemal Demirtas

Head of Research

ATA Invest
5 November 2021
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