Kerevitaş has announced its 2023 financial results

Kerevitaş continued its growth performance focused on R&D, innovation, and sustainability in 2023. Kerevitaş, the leading company in the frozen food and oil market in Turkey, announced its financial results for 2023 on the Public Disclosure Platform (KAP). With a gross profit of 3.8 billion TL and EBITDA of 2.16 billion TL, Kerevitaş achieved an export volume of 2.2 billion TL in 2023. SuperFresh, a subsidiary of Kerevitaş, maintained its leadership in the frozen food and canned food sector with a 42% market share in 2023 by introducing 44 new innovative products through innovative launches, relaunches, and channel-specific strategies. By acquiring the leading company in frozen bakery products, Donuk Fırıncılık Ürünleri A.Ş., in 2023, Kerevitaş continued to grow. Moreover, with important brands such as Bizim Yağ and Teremyağ, which have 100% brand awareness in the Turkish package and bowl margarine markets, Kerevitaş strengthened its market leadership by increasing its market share to 65.6%, a 1.3 percentage point increase compared to 2022. Kerevitaş, a clear leader in the consumer margarine category in the Middle East and Central Asia markets for over 30 years under the Ona brand, single-handedly accounts for 34% of Turkey’s oil exports according to 2023 TUIK data. The leading and expert brand shaping the market, SuperFresh, achieved a first in the category with the ‘SuperFresh Bi’Journey’ communication campaign, narrating the journey of frozen food from field to plate in detail, receiving a total of 8 global and local awards in addition to successful business results. SuperFresh Mac & Cheese Bites and SuperFresh Baked Potato Bites were awarded as ‘the most innovative products of 2023’ in the Practical Meal category within the scope of Marketing Turkey’s ‘Product of the Year Research.’ The most consumed, widely purchased, and loyal branded product in the market, Ülker Bizim Yağ, solidified its undisputed leadership in the package market in 2023 with a 32% market share. The founder of the buttery taste segment, Ülker Teremyağ, the most innovative brand in the market, solidified its clear leadership position in the bowl margarine market by gaining +5 points in market share in 2023, reaching a 47.4% market share across all channels. ‘Our investments in R&D and innovation played a driving role in our revenue growth.’ Kerevitaş CEO Mert Altınkılınç evaluated the financial results of 2023 with the following words: ‘As Kerevitaş, we aim to develop in every field from sustainability to exports, from strong financial performance to agile management structure, and to create added value for our country. In line with our successful business results and sustainable and innovative growth strategy, we successfully positioned our products in global markets by exporting to more than 50 countries across 5 continents in the frozen food and canned food business area in Turkey. We are proud to successfully conclude 2023, where we clearly see the results of our investments in R&D and innovation. We will continue to work diligently to meet the expectations of all stakeholders and create long-term value with the awareness of our transformative role in the broad ecosystem we influence in the sector.’