Mr. Mehmet Tutuncu, Chief Executive Officer of Ulker, commented about the performance of Company:

The results that were delivered in the first quarter of 2015, indicates that we have accurately set our year end targets. Improved operational results prove Ulker’s strong financial and operational capabilities, in spite of our neighbor countries still struggle with instabilities and volatility in the currencies in Turkey. Sales revenue recorded TL 790 mn, which is almost flat compared to last year mainly due to lower export activities. On the other hand, our domestic operations continue to post double digit growth rates and persisted its growth trend. In particular, the growth will gain momentum with the start of second quarter and enjoy from the actions that aim to improve efficiency.

Divesture of our stakes in İstanbul Gıda, Birleşik Ticaret and Rekor Pazarlama enabled us to attain higher profitability levels despite this transaction resulted a lower revenue. In addition, SKU optimization at Biskot resulted lower volume and revenue, however contributed in the growth of profitability. These developments will lead lower volume and revenue for some seeable period nevertheless certainly contribute to our profitably growth strategy.

We will continue to add value to our consumers, clients and all stakeholders through costumer centric, competitive, efficient and innovative approach of ours. Following the initiation and implementation of cost and investment policies in 2014, we foresee faster growth in 2015.