Türkiye’s market-leading fresh frozen and canned food and margarine company, Kerevitaş, continues growing through an innovation- and sustainability-focused approach. The company achieved a consolidated revenue of TRY 3.2 billion with a year-on-year increase of 31 percent in the first quarter of 2023. 

Kerevitaş, Türkiye’s market-leading fresh frozen and canned food and margarine company, reported its financial results for the first quarter of 2023 to the Public Disclosure Platform (KAP). The company achieved a consolidated revenue of TRY 3.2 billion in the first quarter of 2023, with a year-on-year increase of 31 percent. Having achieved a gross profit of TRY 582 million and an EBITDA of TRY 292 million in the same period, the company reached TRY 380 million in export with a year-on-year increase of 32 percent. 

Operating in the frozen and canned food industry under Kerevitaş, SuperFresh maintained its leading position in the frozen food category with a revenue market share of 43 percent in the first quarter.  SuperFresh launched 14 innovative products in this period, driving the market to reinforce its category leadership in line with its innovation strategy. Supreme, the new variety of the vastly popular Pizza King; the tasty out-home-consumption food products for home consumption, Croissants, Mozzarella Cheese Sticks, and Mac&Cheese; and a market-first Sausage Rolled Pastry were among consumer favorites. SuperFresh continued its communication campaign “SuperFresh Bi’ Yolculuk” with famous chef Refika Birgül in the first quarter as well, achieving a year-on-year increase of 4+ points in first-line brand metrics and 5+ points in repurchase and trial metrics. 

Kerevitaş reinforced its market-leading position through its critical brands, such as Bizim Yağ and Teremyağ, which have 100 percent brand recognition in the Turkish margarine market, achieving a revenue share of 65.4 percent with a year-on-year increase of 1.6+ points. The company reached a record-high revenue share of 67.5 percent in March, particularly due to activities associated with Ramadan. Kerevitaş maintains its growth through its export operations to over 50 countries across 6 continents; its strong brands, including Bizim Yağ, Teremyağ, and Luna; and a broad product portfolio that meets market needs. As a long-time leader by a wide margin in the consumer margarine category in the Middle Eastern and Central Asian markets with its brand Ona, Kerevitaş performs 34 percent of Türkiye’s overall edible oil export by itself, according to the 2022 Turkish Statistical Institute (TÜİK) data.  

Mert Altınkılınç: “We observe that our R&D and innovation investments play a significant role in our revenue increase.” 

Remarking they grow consistently and innovatively in the Frozen Food, Canned Food, and Edible Oil markets, Kerevitaş CEO Mert Altınkılınç stated they supported their market leadership by innovation in the first quarter. Altınkılınç said: “The success Kerevitaş achieved in its domestic and export operations rests on its substantial investment in innovative and sustainable products. We adopt an approach that successfully analyzes market expectations and meets consumer needs while aiming for sustainability at every phase, from production to consumption in our operations. Such an approach also contributes to our financial results. 

We observe that our R&D and innovation investments play a significant role in our revenue increase. We aim to maintain our strong financial performance of the first quarter throughout the year and to further advance our growth driven by innovation and sustainability.”