President

Chairman of the Board

Dear Shareholders,

Completing its 28th year in business, Ulusoy Un is managed by the experience, know-how and confidence brought in by the business life of our family that started with Ulusoy Gıda in 1969 and grew with all our colleagues joining this family in the following years. These long years have added significant values to our family. Initially, we learned how important our business, food industry is and to attach the highest importance to the responsibilities inherent with this importance. As employees and managers of Ulusoy Gıda group we made the golden rule of not producing or selling products we would not see fit for our own consumption and have adopted this philosophy as the essential priority of being a reliable food supplier.

With employees always open to novel ideas, working with team spirit and creating added value and management approach not compromising from its principles of quality, stability and confidence, Ulusoy Un started growing rapidly. With this approach it reached 900 tons per day capacity from its initial 180 tons per day capacity. As a reward of its hard work and acknowledgement of its clients, UIusoy Un started to take a place in 1000 Largest Industry Enterprises of İstanbul Chamber of Commerce starting in 1996.In November 2014, it became the first company to be quoted in the İstanbul stock exchange ever to achieve it in Samsun province and in its own industry. Finally,Ulusoy Un became 444th among largest 500 industrial enterprises in Turkey, with 5th place in its industry in the list which is announced in 2017. After long years of labor, I extend my gratitude to all that have played a part in this pride.

In first half of 2018 our company has increased its revenues by 57% compared to the same period of the previous year with 1.299 million TL sales revenue. Additionally, company tripled operating profit compared to the same period of last year by increasing it to 86,4 million TL and achived 12,4 million TL net profit. We aim sustainable growth with our active risk management especially under hard conditions. As part of this policy, by using derivatives our company hedged itself againist fluctuations in FX market.

Ulidaş Tarım Ürünleri Lisanslı Depoculuk Anonim Şirketi which established in 2015, started its warehouse investment with 41.950 ton capacity in Alaca, Çorum in 2016. It has started its operations in licensed warehouse sector which is agricultural sector’s future, by buying its license on 16.06.2017 with 41.950 ton capacity. By completing our ongoing licence warehouse investments in Yozgat Sorgun and Samsun, we aim to increase our total capacity in licence warehouse sector in 2018.

Our aim is to take the activities of our company to global level without compromising our principles, values and objectives together with our experienced colleagues with the strength of teamwork we achieved in our company. In line with these goals, we, Ulusoy Un family will work with all our strength. I thank all our past and future shareholders, employees, clients and suppliers who have played a role in this success.

Günhan Ulusoy - Chairman of the Board