Otokar Otomotiv Ve Savunma Sanayi A.s. · BIST:OTKAR
Otokar Otomotiv Ve Savunma Sanayi A.s — 9M 2024 Earnings Presentation
36 slides from Otokar Otomotiv Ve Savunma Sanayi A.s's earnings presentation, November 2024
Slide 1: 2024 9-Month Financial Results
2024 9-Month FINANCIAL RESULTS
Slide 2: Introduction
01 INTRODUCTION With the Capital Markets Board of Turkey’s Bulletin dated 28.12.2023 numbered 2023/81, CMB announced that issuers and capital market institutions shall prepare their annual financial statements ending on 31.12.2023 or later, in accordance with IAS 29 inflationary accounting provision
Slide 3: Introduction
02 INTRODUCTION Turkey’s 100% domestically owned leading automotive and defense industry company A global company, intellectual property rights belong to itself and its products are in use on 5 continents as well as in more than 75 countries For the 15th time, market leader in the total bus segments
Slide 4: Vision & Mission
03 VISION & MISSION Vision Otokar’s vision is to preserve the local and national identity of its products by developing technologies in-house, also to provide continued satisfaction for its clients, employees, and shareholders with total excellence philosophy. Mission Otokar’s primary mission is to
Slide 5: Brief History
04 BRIEF HISTORY 1963 1970s 1980s 1990s 2000s 2010s 2020s • Establishment • Turkey’s first • Production of • Military armored • Merge with the • Establishment of Otokar • Production agreement • Production of intercity bus 4x4 tactical vehicles by own İstanbul Fruehauf Europe SAS in France signed bet
Slide 6: Overview
05 OVERVIEW USD 382 MILLION EXPORT REVENUES IN 2024 9M TL 21,421 MILLION TURNOVER IN 2024 9M %4 2023 R&D expenditures in turnover 6,000 BUSES & 2,000 MINIBUSES TACTICAL VEHICLES 3,840 552,000 M2 APPROX. 300 YEARLY PRODUCTION EMPLOYEES PRODUCTION AREA SALES & SERVICE NETWORK CAPACITY APPROXIMATELY 1
Slide 7: Human Resources
06 HUMAN RESOURCES Undergraduate & Graduate Field Employee Office Employee Associate Degree High School Associate 2% 76% 24% 5% 2% Degree 16% Elementary & OFFICE FIELD High School EMPLOYEE Undergraduate EMPLOYEE 33% EMPLOYEE EDUCATION 66% EDUCATION Graduate & PhD. DISTRIBUTION 27% DISTRIBUTION DISTR
Slide 8: Production Plant
07 PRODUCTION PLANT 552.000m2 factory with an annual production capacity of 10,450 units and approximately 4,000 employees in Arifiye/Sakarya
Slide 9: Otokar Worldwide
08 OTOKAR WORLDWIDE GROWTH IN EXPORT MARKETS NUMBER OF COUNTRIES 120 100 80 41 32 32 32 33 34 60 29 30 31 25 26 26 40 20 22 19 19 60 20 15 15 18 46 49 51 51 53 54 55 10 10 24 25 32 36 38 38 38 42 9 18 0 4 6 4 5 4 4 7 4 6 4 4 9 9 11 14 2000 2023 1997 1998 1999 2001 2002 2003 2004 2005 2006 2007 2008
Slide 10: Areas of Operation
09 AREAS OF OPERATION 2024 9M Total revenue : 14,812 mn TL 1.235 mn TL 2,050 mn TL 3,324 mn TL Rev. Contribution : 69% 6% 10% 16% Domestic : 4,783 mn TL 1,157 mn TL 398 mn TL 1,387 mn TL Export : 10,029 mn TL 78 mn TL 1,652 mn TL ARMORED 1,937 mn TL Export share* : 68% (bus) 6% 81% 58% (spare part)
Slide 11: Areas of Operation
10 AREAS OF OPERATION • Widest product range in the Turkish bus segment • The leading supplier of land defense systems. with an offering that includes buses from 6 to 21 meters with varying passenger capacities suitable for • More than 30.000 vehicles are actively used both city, intercity and touri
Slide 12: Commercial Vehicles – Passenger Transportation
11 COMMERCIAL VEHICLES – PASSENGER TRANSPORTATION DIESEL VEHICLES ALTERNATIVE FUELLED VEHICLES LOJİSTİK VE KARGO TAŞIMACILIĞI CENTRO e-CENTRO SULTAN KENT CNG DORUK / VECTIO e-KENT KENT KENT HYDROGEN TERRITO e-TERRITO KENT ARTICULATED e-KENT ARTICULATED KENT XL
Slide 13: Commercial Vehicles – Logistics, Cargo Transportation, and Public Services Product Range
COMMERCIAL VEHICLES – LOGISTICS, CARGO TRANSPORTATION, 12 AND PUBLIC SERVICES PRODUCT RANGE LOGISTICS and CARGO TRANSPORTATION ATLAS 8,5 ATLAS 3D ATLAS 11 ATLAS 11 ATLAS 3D 15
Slide 14: Defense Industry Vehicles
13 DEFENSE INDUSTRY VEHICLES WHEELED ARMOURED VEHICLES TRACKED ARMOURED ROBOTIC AND UNMANNED GROUND ELECTRICAL ARMOURED Open Cupola Keskin – RCWS TURRET Üçok / Başok Mızrak - RCWS SYSTEMS Open Anti-tank turret
Slide 15: Commercial Vehicles
14 COMMERCIAL VEHICLES APPROXIMATELY 1 OUT OF EVERY 3 BUSES SOLD IN TURKEY IN 2023 IS OTOKAR In the total of segments in which it operates Approximately 1 out of every 3 buses sold in Turkey in 2023 is Otokar The total of the segments in which it operates as a market leader, was the best-selling bra
Slide 16: Otokar 2024
15 OTOKAR 2024 Participated in the World Defense Show (WDS) in Riyadh, the capital of Saudi Arabia, between 4-8 February 2024, and displayed its broad range of armored platforms and capabilities. Participated in LAAD 2024, the leading South American security and defense exhibition, between April 02-
Slide 17: Otokar 2024
16 OTOKAR 2024 Participated in the Black Sea Defense, Aerospace and Security International Exhibition (BSDA), between May 22-24, in Bucharest, Romania. During the exhibition, Otokar displayed its worldwide known COBRA II 4x4 tactical wheeled armored vehicle and ARMA 8x8 wheeled armored vehicle from
Slide 18: Otokar 2024
17 OTOKAR 2024 Made the first sale of the 100 percent electric e-ATLAS, the new member of the ATLAS truck family that eases the burden of trade. With this sale, Otokar also sold the first electric light truck in Türkiye. Participated in Africa Aerospace and Defence (AAD) on September 18-22, in City
Slide 19: Otokar 2024
18 OTOKAR 2024 Rolled the 30,000th Navigo bus off the assembly line in a special ceremony. On this occasion, the 5,000th Otokar Atlas truck also rolled off the production line. Participated in the 5th Azerbaijan International Defence Exhibition (ADEX 2024) on September 24-26 in Baku, Azerbaijan. Oto
Slide 20: Backlog
19 BACKLOG Million Backlog 9000 8000 7546 7000 6000 5000 4000 3000 2000 1000 153 0 50 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 9M Year End Year End Year End Year End Year End Year End Year End Year End Year End TL USD EUR Total TL Appx. The above backlog amounts and deliveries will be hel
Slide 21: Why Otokar
20 WHY OTOKAR Leader Strong export performance and a R&D capabilities and flexible Products that are intellectual Market leader global company production capability property rights Otokar across its respective Export revenues have increased New product development and The share of Otokar design bus
Slide 22: Financial Indicators
21 FINANCIAL INDICATORS Balance Sheet (000 TL) 30.09.2024 Current Assets 26.241.179 S.T. Liabilities 19.240.353 Fixed Assets 12.734.294 L.T. Liabilities 11.439.765 Shareholders Equity 8.295.355 Total Assets 38.975.473 Total Liabilities 38.975.473 Income St. (000 TL) 2024 9M 2023 9M Change (%) Net Sa
Slide 23: Financial Indicators: Revenue
22 FINANCIAL INDICATORS REVENUE Million 25.000 23.001 21.421 20.000 15.000 10.000 5.000 712 628 0 2023 9M 2024 9M TL USD
Slide 24: Sales
23 SALES Million TL 25.000 23.001 21.421 20.000 15.233 15.000 13.696 10.000 7.768 7.725 5.000 0 2023 9M 2024 9M Domestic Export Total 2023 9M 2024 9M Domestic Domestic 34% 36% Export Export 66% 64%
Slide 25: Financial Indicators
24 FINANCIAL INDICATORS 500 Production & Sales Units 000 500 000 500 0 Production Sales Production Sales Production Sales Bus Trucks Armoured 2023 1Q 2023 2Q 2023 3Q 2023 4Q 2024 1Q 2024 2Q 2024 3Q Revenue Distribution Truck Truck 5,8% 5,6% Other Other 18,7% 15,5% Armoured Bus 9,6% Bus Armoured 69,1
Slide 26: Financial Indicators
25 FINANCIAL INDICATORS Million TL Gross Profit Million TL Operating Profit .500 23,0% 1.200 5,0% 4.181 1.055 .000 1.000 4,6% 18,2% 4,0% .500 18,0% 3.212 800 3,0% .000 15,0% 600 13,0% 2,0% .500 400 .000 1,0% 8,0% 200 .500 0,0% 0 .000 3,0% -200 -1,0% 500 -400 -2,0% 0 -2,0% -600 -3,0% -2,5% -532 2023
Slide 27: Financial Indicators: Ratios
26 FINANCIAL INDICATORS Ratios 2024 9M 2023 9M Gross Margin %15 %18,2 EBITDA Margin %-3,9 %1,7 Net Margin %-11,2 %-0,6 Ratios 2024 9M 2023 Net Debt/Equity 2,14 1,12 ST. Borrowing/Total Borrowings 0,63 0,86 Equity/Total Assets 0,21 0,26 Current Ratio 1,36 1,15 Liquidity Ratio 0,69 0,80
Slide 28: Capital Expenditures
27 FINANCIAL INDICATORS Million TL Capital Expenditures 700 626,2 600 557,2 500 400 300 200 100 0 2023 9M 2024 9M
Slide 29: Borrowings
28 FINANCIAL INDICATORS Million TL BORROWINGS 25.000 20.000 18.782 15.000 9.845 10.372 10.000 5.000 3.136 0 2023 2024 9M S.T. Borrowings L.T. Borrowings Exchange rate risk and liquidity are monitored actively and the maturity of the borrowings and the currency type is determined by taking into con
Slide 30: Stock Performance / Market Capitalization
29 FINANCIAL INDICATORS Stock Performance Market Capitalization
Slide 31: R&D and Testing Capabilities
30 R&D AND TESTING CAPABILITIES The number of patents Share of R&D expenditures in 403 applications since %4 688 R&D employee turnover in 2023 establishment Industrial product designs prepared with Computer-aided analysis and simulation Test and accreditation centers, which are modern technological
Slide 32: Leading the Sector with Innovative Products
31 LEADING THE SECTOR WITH INNOVATIVE PRODUCTS DORUK HIBRA DORUK DG KENT DG DORUK ELECTRA Turkey’s first hybrid bus Turkey’s first natural gas 12 m CNG bus Turkey’s first electric bus powered mid-sized bus e-Kent C AKREP IIe KENT HYDROGEN 12 m electric bus Turkey’s first electric armoured vehicle 12
Slide 33: Sustainability
32 SUSTAINABILITY Otokar has been listed in the BIST Sustainability Index since 2014 Otokar considers its sustainability strategy, protecting domestic capital structure and the goal of profitability, its sensitivity to the environment, human and society, its focus on universal human rights and busin
Slide 34: Sustainability Model
SUSTAINABILITY MODEL ¢ Product Quality ¢ Product Life Cycle ¢ Minimizing the Impact of Supply and Value Chains 16 ea ANDSTRONG INSTTUTIONS ¥, 7 parwcesars FORTHE GOALS >, of ¢ Applying New Technologies ¢ Alternative Fuel Vehicles e Sustainable Product Design ¢ Digitalization 13 cron 16 eas AND STRON
Slide 35: Corporate Governance
34 CORPORATE GOVERNANCE 61ST ORDINARY GENERAL ASSEMBLY OF OTOKAR OTOMOTİV VE SAVUNMA SANAYİ A.Ş. HELD ON 27.03.2024. Otokar, as publicly disclosed with the Rating of Adaptation to Corporate Governance Principles Weight Rating material disclosure dated 22.03.2024, Shareholders 25% 95,92 stated that S
Slide 36: Contact
CONTACT Otokar Commercial Vehicles Defense Industry Otokar Investor Relations Department Investor Relations Atatirk Cad. Noi6 Avifiye 54580 otokarir@otokar.com.tr 0549 834 06 70 Sakarya Corporate Information v Corporate Governance v Dogan Seckinler Finance, Risk dseckinler@otokar.com.tr 0264 229.22
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