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We will extend our success in flour production to food retailing

07 June 20237 min reading

“A significant portion of Eksun Gıda’s public offering proceeds will be utilized for direct investments. Accordingly, 20 percent of the funds will be used for the construction of a 28 MW renewable energy power plant to meet the electrical energy needs of the flour production facilities in Tekirdağ and Konya provinces. Another 10 percent of the public offering proceeds will be utilized for the flour silo facility, machinery investments, and modernization. The rest of the proceeds will be used to reduce working capital needs and financial debts.”


Ahmet Demir 
Eksun Gıda General Manager

Eksun Gıda, one of Turkey’s prominent flour producers operating under the umbrella of Eksim Gıda Grubu, continues to contribute to the future of its sector. Having realized one of the most successful public offerings of the recent period, Eksun Gıda seems to make a name for itself with its investments. We had the opportunity to have a talk with Ahmet Demir, Chairman of Eksim Holding Gıda Grubu and General Manager of Eksun Gıda, about Eksun Gıda’s production technology, investments, the public offering process and the investments to be made with the proceeds from the offering.



Mr. Demir, could you tell us about your Sinangil brand and the activities of Eksim Gıda?
Eksim Gıda Grubu, a subsidiary of Eksim Yatırım Holding, continues its activities in the food and catering sectors with a rising momentum with its Eksun and Aslı brands. Eksun Gıda, which offers products for retail and out-of-home consumption channels with its Sinangil, Gluten Yok, and sub-brands, has taken action to use its proceeds coming from the public offering in the items that it had previously shared with its investors. This year, Eksun Gıda is also celebrating the 60th anniversary of Sinangil, the pioneering brand of the flour industry. Aslı, Eksim Gıda Grubu’s popular brand in the catering sector, has set even higher standards with its new concept and enriched cuisine. 

You have realized one of the most successful public offerings of the recent period. What would you like to say about the transaction?
Last March, 28.63% of Eksun Gıda’s shares started to be traded on Istanbul Stock Exchange (BIST) with the public offering, which was realized as an all-capital increase. At 48.90 TRY, the highest individual participation of all time was realized during that public offering process, which received approximately 15 times the demand. We would like to thank over 1.2 million investors who trusted Eksun Gıda. Eksun Gıda applied to the BIST with the claim of transparency and accountability. We believe that our public offering will accelerate our sustainable growth and increase our competitiveness in the market. To make a long story short, more than 1.2 million investors became partners in a company that is accountable, transparent, and has achieved sustainable growth momentum. 

We aim to achieve a strong growth momentum with the public offering. After these investments, we believed that we had reached the necessary maturity and took the necessary steps for the public offering. Because we believe that it is important for leading companies in the sector like ours to go public and achieve a transparent and corporate structure. Our primary goal is to ensure this structure and to realize our growth plans with new partners. At Eksun Gıda, which has realized the goals it has set since the day it was founded, we aim to continuously improve our operating standards with dynamics such as transparency and accountability that every organization needs. 

RENEWABLE ENERGY POWER PLANT
How will the proceeds from the public offering be invested?
A significant portion of Eksun Gıda’s public offering proceeds will be utilized for direct investments. Accordingly, 20 percent of the funds will be used for the construction of a 28 MW renewable energy power plant to meet the electrical energy needs of the flour production facilities in Tekirdağ and Konya provinces. Another 10 percent of the public offering proceeds will be utilized for the flour silo facility, machinery investments, and modernization. The rest of the proceeds will be used to reduce working capital needs and financial debts.   

How are your company’s activities in the flour category going?
We export flour in different product categories to over 30 countries, mainly in Latin America, Africa, and the Middle East. We differentiate ourselves from our competitors with more than 200 product types and our international after-sales support. Established in 2020 with the approval of the Ministry of Industry and Technology, our R&D center carries out projects such as gluten-free flour, gluten-free bread, bakery products, new flour diversification, and obtaining high-quality flours with the most appropriate mixtures of wheat blends, thus keeping up with rapidly changing consumer habits without delay. 

How was 2022 for you? What are your thoughts about your and Turkey’s wheat resources?
At the end of 2022, our total turnover increased by 153 percent compared to the same period of the previous year to over 3.9 billion TRY and our net profit reached 224 million TRY. At the end of 2022, our EBITDA margin was realized as 12.3 percent. As flour industrialists, our most important advantage is that we can buy wheat from domestic farmers. Turkey is a self-sufficient country in wheat and this market is one of the most regulated markets. We can supply the wheat we need for the domestic market. For exports, we import wheat with inward processing permits. We can say that this creates an armor for flour industrialists against both inflation and the increase in exchange rates. 

SİNANGİL IN KITCHENS FOR 60 YEARS
Sinangil, Turkey’s first packaged flour, is celebrating its 60th anniversary. What are your thoughts on this brand?
Sinangil, which has been operating under the structure of Eksun Gıda and has been in the food sector since 1963, has left 60 years behind. Sinangil, which is also Turkey’s first packaged flour, produces and sells multipurpose flours, functional flours, traditional flours, instant bread mixes, semolina, cake flours, traditional products, special purpose flours, gluten-free flours, pastry ingredients, baking aids and dessert series. Most recently, a commercial was also broadcasted in the context of Sinangil’s 60th anniversary. In the movie, Sinangil’s presence in the kitchens, which has continued from generation to generation for 60 years, is conveyed with details that make the audience smile. The film shows 3 adorable grandchildren who find their grandmother’s recipe book and can’t read an ingredient written in the book to make her favorite recipe and try to get everyone to read the missing ingredient. At the end of the movie, the grandmother points out the ingredient that the grandchildren cannot read by turning the back side of the paper, and the Sinangil is seen on the first packaging of the brand in those years.

What do you aim to achieve with your Gluten Yok brand, which produces for gluten-free nutrition, which is a late popular diet, and for those with gluten sensitivity?
Sinangil’s leading gluten-free brand Gluten Yok, which draws attention with its gluten-free, ready-to-eat bread and snack varieties, offers delicious products for both those with gluten sensitivity and those who prefer a gluten-free diet. The Gluten Yok brand, which was created as a result of Sinangil’s expertise and leadership in the gluten-free flour market with its flours in different categories, offers buckwheat baton bread, sliced toast bread, sandwich bread, hamburger bread, turmeric-red pepper cookies, sesame cookies, currant cookies, and coconut cookies. 

You have the Aslı brand, which is like a presentation place for the flours you produce. How are the activities of this brand going?
Aslı, which is a part of Eksim Food Group and a pioneer in its field in Turkey with its R&D and product development activities carried out with years of experience and know-how, serves with a total of 41 branches, 36 of which are operated under the franchise system. Aslı, which carries out production in one of Turkey’s and Europe’s distinguished integrated bakery products facilities located in Istanbul Dudullu Organized Industrial Zone on a closed area of 15 thousand m2, appeared before the consumers with its renewed concept.

Aslı, which serves with its new face, produces more than 300 products in a wide range including both traditional Turkish flavors and world flavors such as pastries, desserts with sharbat, traditional meat pastry/ravioli, olive oil dishes, cakes, street bagels, cookies and dairy desserts. Setting a higher standard with its changed decoration and renovated cuisine, Aslı aims to introduce brand-new flavors to the palates of its customers.



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