Ülker Bisküvi Sanayi A.S. Income Statement

Financials in millions TRY. Fiscal year is January - December.

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	111,905	110,078	80,616	51,981	12,537
Revenue Growth (YoY)	1.66%	36.55%	55.09%	314.62%	29.04%
Cost of Revenue	79,559	77,268	57,260	40,653	8,925
Gross Profit	32,346	32,810	23,356	11,328	3,612
Selling, General & Admin	15,753	14,236	9,415	5,628	1,474
Research & Development	628.46	543.37	344.64	164.65	39.79
Other Operating Expenses	222.86	193.68	177.75	0.03	99.74
Operating Expenses	16,604	14,973	9,938	5,793	1,614
Operating Income	15,741	17,837	13,418	5,535	1,999
Interest Expense	-5,657	-6,236	-5,732	-4,260	-802.14
Interest & Investment Income	11,058	7,995	11,007	7,812	6,096
Currency Exchange Gain (Loss)	-15,593	-8,934	-17,236	-10,126	-7,178
Other Non Operating Income (Expenses)	1,810	4,034	6,045	5,660	-54.36
EBT Excluding Unusual Items	7,359	14,697	7,502	4,621	60.4
Gain (Loss) on Sale of Investments	-680	-344.44	-604.64	-3,248	-130.93
Pretax Income	6,679	14,353	6,897	1,373	-70.53
Income Tax Expense	1,473	3,860	800.4	-56.51	91.89
Earnings From Continuing Operations	5,206	10,492	6,097	1,430	-162.42
Minority Interest in Earnings	-331.69	-805.76	-1,218	-444.71	-301.91
Net Income	4,875	9,687	4,878	984.79	-464.33
Net Income to Common	4,875	9,687	4,878	984.79	-464.33
Net Income Growth	-49.68%	98.56%	395.37%	-	-
Shares Outstanding (Basic)	369	369	369	369	342
Shares Outstanding (Diluted)	369	369	369	369	342
Shares Change (YoY)	-	-	-	7.98%	-
EPS (Basic)	13.20	26.23	13.21	2.67	-1.36
EPS (Diluted)	13.20	26.23	13.21	2.67	-1.36
EPS Growth	-49.68%	98.56%	395.37%	-	-
Free Cash Flow	4,188	4,236	8,884	2,696	-530.98
Free Cash Flow Per Share	11.34	11.47	24.06	7.30	-1.55
Dividend Per Share	-	8.070	-	-	-
Gross Margin	28.90%	29.81%	28.97%	21.79%	28.81%
Operating Margin	14.07%	16.20%	16.64%	10.65%	15.94%
Profit Margin	4.36%	8.80%	6.05%	1.90%	-3.70%
Free Cash Flow Margin	3.74%	3.85%	11.02%	5.19%	-4.23%
EBITDA	18,193	20,220	15,127	6,703	2,229
EBITDA Margin	16.26%	18.37%	18.77%	12.90%	17.78%
D&A For EBITDA	2,452	2,383	1,710	1,168	230.01
EBIT	15,741	17,837	13,418	5,535	1,999
EBIT Margin	14.07%	16.20%	16.64%	10.65%	15.94%
Effective Tax Rate	22.05%	26.90%	11.61%	-	-

Source: S&P Global Market Intelligence. Standard template. Financial Sources.