Dear Stakeholders,

In 2021, when the pandemic continued its impact, though with a lesser effect, we optimized our costs through a strong logistics and supply system. We continue to provide uninterrupted service to our customers, to open new stores, and to increase employment in all 81 provinces in Turkey. While working with all efforts to provide our customers with reliable food together with our employees and business partners and in line with our consumers’ rapidly changing expectations and needs, we developed innovative and digital solutions for the shopping experience.

With the impact of the pandemic, digital channels rapidly grew in the retail sector globally, and our priority has been our “Cepte ŞOK” app. With “Cepte ŞOK,” in which we continue to invest, our customers were able to order through our internet site, mobile app, and phone channels. With our home delivery business model which was based on market prices and which was free of charge, we invested and will invest in meeting the increasing demands of our customers and to grow our delivery capacity.

We will continue to develop our services in the digital area and work to rapidly respond to the changing needs of our customers. In accordance with this aim, through our investment into “Cepte ŞOK” electric delivery vehicles, we are strengthening our logistics capacity. Thus, we plan to decrease carbon emissions and raise customer satisfaction to the highest at our procurement/distribution operations.

For 2021, we made an investment of TL 800 million, including opening of new stores. Our investments in the past 5 years provided a contribution of TL 2.5 billion to the country’s economy. In 2021 we opened 1,102 new stores. Thus, the total number of stores reached 9,247. While last year our employment numbers were 4,000, in the recent 5 years it exceeded 27 thousand. The total number of our employees reached 39,659. Of course, I should add that besides direct employment, we created also indirect employment.

As a discounter, our most prioritized aim and promise is to provide our customers with highest quality products at most affordable prices. In order to succeed, with our project “Fair Agriculture from Farm to Table” which we introduced long time ago, we provide our customers with products, the quality of which we are certain of, from farmers and producers on contract, inspecting each step starting from seeding. While we pay in full and in a timely manner the work of our farmers thanks to contracted agriculture, we provide our customers with quality products at affordable prices.

Aiming to provide support to our farmers within the scope of our project “Fair Agriculture from Farm to Table” and to provide products at most affordable prices to our customers, our collaborations will continue. In 2022, we will continue decisively to provide our customers with quality products at affordable prices and to support their economy.

Also, we kept the prices of our exclusive brands low, such as Piyale, Mis and Evin which are known by everyone and whose production processes we control end-to-end. In 2021, we continued to support our customers’ economy with our internal inflation which is always several points lower than the inflation announced.

Thanks to our customer-oriented innovative business model, our net sales in 2021 increased by 33.1% year-on-year, reaching TL 28 billion. Compared to the previous year, we increased our net profit (excluding the impact of IFRS 16) by 14.5% to TL 445 million. We aim to continue to grow in 2022.

ŞOK Marketler is a large family with strong bonds and we strive to achieve a common success with all our strength. We created a very large ecosystem together with our suppliers, farmers, producers, and transporters bringing the products to our stores, where hundreds of thousands are employed. All our achievements are possible thanks to your trust in and support for our brand. As always, we will continue to create value for Turkey’s economy, our esteemed stakeholders, and our customers through our uninterrupted services.

Yours sincerely,

Uğur Demirel

ŞOK Marketler Tic. A.Ş.

CEO