Ülker Bisküvi Sanayi A.S. (OTCPK:UELKY) Q3 2025 Earnings Call November 10, 2025 8:00 AM EST

Company Participants

Verda Tasar - Director of Investor Relations Fulya Surucu - Chief Financial Officer

Conference Call Participants

Eren Ercis Ali Akkoyunlu - Gedik Yatirim Menkul Degerler A.S., Research Division Cemal Demirtas - Ata Invest Co., Research Division Gustavo Campos Evgeniya Bystrova

Presentation

Verda Tasar Director of Investor Relations

Hello, everyone, welcome to Ulker Biskuvi’s Third Quarter 2025 Earnings Call. Thank you for joining us today and for your continued interest in our company. We appreciate your time as we review another solid quarter of performance, highlighting our continued focus on sustainable growth, operational efficiency and delivering value to our consumers and shareholders.

With that, I will now hand it over to our CFO, Fulya Banu Surucu, who will walk you through the operational and financial results in detail. Fulya Banu, please.

Fulya Surucu Chief Financial Officer

Beste, thank you. Good morning, good afternoon, everyone. Thank you for joining us today for Ulker Biskuvi’s third quarter 2025. Due to a last-minute change of plans, our CEO had to travel and could not attend this meeting. He apologizes for that and said hi to everyone.

So today, I will walk you through our operational performance highlights and provide a deeper dive into our financials and segment performance, discuss our balance sheet, strategic initiatives and conclude with our outlook. After the presentation, I will be happy to take your questions.

To begin, Ulker continues to deliver strong results, driven by our diverse product portfolio, correct strategies and commitment to innovation. So let’s begin with a snapshot of the macroeconomic landscape in Turkiye as we entered the last quarter of 2025. Despite ongoing global uncertainties, the country’s GDP growth rate is projected to stabilize at 2.7% for this year. And it is expected to land at 3.7% for 2026 per IMF, higher

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