Ulker Biskuvi stock reports 11.40 percent revenue decline

Ulker Biskuvi stock posted TRY 1.39 billion in Q2 net income on August 19, 2026. Management cut 2026 sales guidance but kept 13.50 percent EBITDA margin guidance.

Ulker Biskuvi stock reported Q2 2026 revenue of TRY 26.99 billion, down 11.40 percent year over year, while net income rose 45.50 percent to TRY 1.39 billion. Yahoo Finance published the earnings transcript on August 19, 2026, highlighting a sharp split between weaker sales and stronger bottom-line performance.

Revenue falls as net income rises

The Q2 comparison points to margin and pricing pressure rather than a volume collapse. According to Yahoo Finance, consolidated volume increased 1.30 percent year over year, while gross margin fell to 24.60 percent from 27.20 percent in Q2 2025. EBITDA margin declined to 7.40 percent from 14.60 percent.

For the first half of 2026, revenue fell 7.20 percent to TRY 63.30 billion, and net income reached TRY 3.10 billion versus TRY 4.30 billion in the prior-year period. The figures show that higher volume did not fully offset promotional intensity, inflation accounting effects and cost pressure in the reported value of sales.

Guidance turns more cautious

Management revised its 2026 net sales outlook from flat growth to a low single-digit decline, while maintaining EBITDA margin guidance at 13.50 percent plus or minus 1.50 percentage points. The change places greater weight on cost control and productivity because the company is protecting affordability and market position while pricing power remains constrained.

The same webcast cited a 34.00 percent market share in Turkey and international volume growth as supporting factors. That combination gives the stock a measurable operating counterpoint to the weaker revenue trend, although the Q2 margin comparison remains the clearest near-term pressure point.

Market value and yearly range

Ulker Biskuvi had a market capitalization of TRY 30.8 billion as of September 30, 2026. Its 52-week range was TRY 82.35 to TRY 141.70 on the same date, leaving a wide valuation backdrop for the next earnings checkpoint.

FKRadar listed an expected earnings release for November 6, 2026, and reported an average analyst target of TRY 173.61 from eight analysts as of September 29, 2026. The target is an external estimate, not a company forecast.

Ulker Biskuvi stock facts

• Company: Ulker Biskuvi Sanayi A.S.
• Ticker: ULKER
• Primary exchange: Borsa Istanbul
• Market capitalization: TRY 30.8 billion (as of September 30, 2026)
• 52-week range: TRY 82.35-TRY 141.70 (as of September 30, 2026)
• Sector / Industry: Consumer Defensive / Food Confectioners
• Next earnings date: November 6, 2026