Otokar Grew 55 Percent in 2021

Otokar, one of the Koç Group companies, announced its financial results for 2021. The company continued its steady growth in 2021.

Stating that they continue their activities without slowing down in harmony, cooperation and trust with all their stakeholders, Otokar General Manager Serdar Görgüç said; “Otokar's turnover in 2021 increased by 55 percent, reaching 4.5 billion TL, and its main operating profit increased by 69 percent, reaching 1 billion 76 million TL. We will increase our exports to 345 million USD in 2021; "We increased our net profit to 1 billion 42 million TL," he said.

Otokar, Turkey's leading automotive and defense industry company, shared its 2021 financial results. Advancing its global goals with bold steps and operating in more than 60 countries on 5 continents, Otokar completed 2021 with a 55 percent growth in terms of turnover compared to the previous year.

Stating that they continue their activities in domestic and foreign markets uninterruptedly under the conditions of the ongoing Coronavirus pandemic, Otokar General Manager Serdar Görgüç said, “In 2021, our turnover reached 4.5 billion TL, an increase of 55 percent compared to the same period of the previous year. We maintained our competitive position on a global scale and increased our exports to 345 million US dollars. Our main operating profit increased by 69 percent compared to the previous year, reaching 1 billion 76 million TL, and our net profit reached 1 billion 42 million TL. "In 2021, our commercial vehicle and defense industry sales showed a balanced distribution within our turnover," he said.

Stating that they continued their existing and new product development efforts throughout the year, Serdar Görgüç said, "While our research and development investments increased by 49 percent compared to the previous year, reaching a total of 300 million TL, the average share of our R&D expenditures in our turnover in the last 10 years was 8 percent."

Turkey's Most Preferred Bus Brand is Again Otokar

Stating that they continue their leadership in the bus sector, General Manager Serdar Görgüç said; “We became Turkey's bus market leader for the 13th time; Approximately one in every two buses sold in 2021 was Otokar. By winning Turkey's important urban transportation tenders, we once again became the bus supplier of Turkey's three largest cities, Istanbul, Ankara and Izmir. The most preferred bus brand in tourism and shuttle transportation is again Otokar. “I thank our users for the trust they have placed in us,” he said.

Pointing out that Otokar is one of the important players in the 8.5-ton truck market as well as buses in commercial vehicles, Serdar Görgüç said, "We increased our sales in the 8.5-ton truck market in which we operate, above the market growth."

“The Goal in Europe is to Grow with Alternative Fuel Buses”

Stating that Otokar buses are used in passenger transportation in more than 50 countries, especially in Europe, Serdar Görgüç said: “We continued our growth in Europe, which is our target market, in 2021. Our buses that we produced for the capital of Slovakia started to serve. While we continue to export to countries in Europe such as Spain, France, Germany and Italy, we also received high volume orders from the Middle East. We are very proud that our buses designed and produced in Turkey are used in metropolises all over the world. Municipalities, especially in Europe, that have adopted sustainable urbanism within the scope of combating climate change, continued their preference for alternative fuel vehicles in 2021. "Our company, which is an important player in global competition in alternative fuel vehicles, has received orders for natural gas city buses from Romania and Azerbaijan, as well as from Ukraine."

Stating that they continue their promotional activities for Otokar's new generation electric bus throughout Europe as well as in Turkey, Görgüç said, "Our promotional tour for our electric city bus started in Europe with the transportation of 2 thousand passengers at the IAA Mobility Fair in Germany, Spain, Italy, It continued with France, Romania and Benelux countries. Our vehicle has received great appreciation from users and operators. "We aim to increase the number of products in this segment in Europe in the coming years," he said.

Continuing its investment activities in the factory in the field of commercial vehicles, the company started the production and deliveries of the first vehicles within the scope of the agreement signed in 2020 to produce IVECO BUS buses in Turkey.

“We Took an Important Step to Develop Autonomous Military Vehicles”

Reminding that Otokar military vehicles, which actively serve in NATO countries and United Nations forces in the defense industry, have been exported to more than 35 friendly and allied countries besides our country, Otokar General Manager Serdar Görgüç gave the following information about the work in the defense industry: “Last year, we are ready to deliver the orders we received from different geographies. While focusing on our services, we had the opportunity to participate in events and fairs held around the world and come face to face with our users, as travel restrictions caused by the Coronavirus pandemic were lifted. Our ARMA 8x8 armored vehicle and TULPAR Our tracked combat vehicle successfully completed the tests carried out by the Kazakhstan Army under difficult conditions. "By signing an international cooperation agreement for autonomous military vehicle development and applications, we have taken an important step towards creating the unmanned ground vehicles segment," he said.

“We Conduct Our Activities Focusing on Sustainability Issues”

Stating that Otokar is taking firm steps towards its goal of becoming a global brand, it also continues to develop its technology and innovation capabilities, Serdar Görgüç said; “Our R&D expenditure in 10 years has reached 1.6 billion TL. We have been included in Borsa Istanbul's Sustainability Index for 6 years with our work on environmental, social and governance issues. We carry out our activities with a focus on sustainability issues. While we continue our work on the effects that the Green Deal may bring to our trade with the EU, we follow the 2050 Carbon Neutral Program, which is an important part of the Koç Group's Cultural Transformation Program, with great care. "In this regard, we are working on issues such as alternative fuels, energy efficiency and green purchasing," he said.

Goals for 2022

Stating that they aim to maintain Otokar's sustainable growth in 2022, Serdar Görgüç said, “We will continue our work without compromising our goal of becoming a global player in the automotive and defense industry fields. While maintaining our leading position in commercial vehicles in the country, we aim to increase the number of vehicles and our market share in foreign markets, especially in Europe. We will continue to offer our products and capabilities in the field of defense industry for the benefit of our country and work to increase our presence in our target markets abroad. "To achieve these goals, the dedication and efforts of our employees, the trust of our users and the harmony and cooperation we maintain with our business partners will be our greatest strength," he said.