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

Despite challenges in 2016, Ülker Bisküvi improved its operating performance: Ülker increased its sales by 3% in 2016 and closed the year with a turnover of TL 3.92 billion. Ülker’s operating profit increased by 8% over the same period, and elevated to TL 460 million.

Our strategic actions which are stated in below also had a positive impact in our success:

•  We aimed to maintain an affordable price range for our consumers during the 2016 period

•  We managed to launch new successful products while our Star products successful performance prevailed

•  We implemented models that increases efficiency and kept operating expenses under control

•  We developed strategic partnerships in modern channel

•  We prioritize the investments that result competitive advantage

•  We paid a great consideration in our employees satisfaction

The financial and operational successes we achieved by the end of the year indicate that Ülker has a solid foundation for sustainable and profitable growth despite the challenging conditions it has faced. Creating consistency across the value chain in order to achieve efficiency and our shared objectives is essential for sustaining this kind of growth.

In 2017, we will continue to work hard to achieve our goals, and add value to our shareholders, employees, suppliers, and national economy.