Kerevitaş Posts TRY 3.2 Billion Revenue

Kerevitaş Posts TRY 3.2 Billion in Revenue Kerevitaş's consolidated revenue in the first quarter of 2023 increased 31 percent year-on-year to TRY 3.2 billion. Kerevitaş, Turkey's fresh frozen food, canned goods and margarine market company, disclosed its first quarter 2023 financial results to the Public Disclosure Platform (KAP). Kerevitaş's consolidated revenue for the first quarter of 2023 grew 31 percent compared to the same period of the previous year, reaching TRY 3.2 billion. In the same period, Kerevitaş achieved gross profit of TRY 582 million and EBITDA of TRY 292 million, with exports in the first three months of the year rising 32 percent year-on-year to TRY 380 million. SuperFresh, which operates in the frozen food and canned goods sector under the Kerevitaş umbrella, maintained its leadership in the frozen food category in the first quarter with a 43 percent revenue market share. During this period, SuperFresh launched 14 innovative products that set industry trends in line with its focused innovation strategy. Notable launches included a new variety of the popular Pizza King called Supreme, Croissant that brought out-of-home favorites into homes, Mozzarella Cheese Sticks, Mac&Cheese, and Sausage Roll Börek, a first in the market. SuperFresh continued its 'SuperFresh Bi' Journey' communications campaign developed with renowned chef Refika Birgül in the first quarter, achieving a +4 point increase in top-of-mind brand metric and +5 point gains in repeat purchase and trial scores compared to the same period last year. In the Turkish margarine market, Kerevitaş solidified its leadership position with major brands such as Bizim Yağ and Teremyağ, which enjoy 100 percent brand awareness, capturing a 65.4 percent revenue share in the first three months of the year, a +1.6 point increase versus the same period last year. With the impact of special Ramadan activities, a record revenue share of 67.5 percent was reached particularly in March. In addition to exporting margarine to over 50 countries across 6 continents, Kerevitaş continues to grow with strong brands such as Bizim Yağ, Teremyağ and Luna and a broad product portfolio that responds to market needs. For many years, Kerevitaş has held a commanding leadership position in the consumer margarine category in Middle Eastern and Central Asian markets under the Ona brand, and according to 2022 TURKSTAT data, Kerevitaş alone accounts for 34 percent of Turkey's oil exports.

'Our investments in R&D and innovation are playing a major role in our revenue growth'

Kerevitaş Chief Executive Officer Mert Altınkılınç, whose views were included in the statement, said the company is growing in a consistent and innovative manner in the Frozen Food, Canned Goods and Oil markets, and supported its market leadership in the first quarter with innovation. Altınkılınç stated, 'At the core of Kerevitaş's success both domestically and in export markets lies a substantial investment in innovative and sustainable products. We work with an approach that successfully analyzes market expectations and meets consumer needs, while targeting sustainability at every stage from production to consumption. This approach also contributes positively to our financial results. We see that our investments in R&D and innovation play a major role in our revenue growth. We aim to continue our strong financial performance in the first quarter throughout the rest of the year and further develop our growth based on innovation and sustainability.' he said. Source