Otokar Otomotiv Ve Savunma Sanayi A.s. · BIST:OTKAR
Otokar Otomotiv Ve Savunma Sanayi A.s — H1 2025 Earnings Presentation
35 slides from Otokar Otomotiv Ve Savunma Sanayi A.s's earnings presentation, August 2025
Slide 1: 2025 6-Month Financial Results
2025 6- 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 16th 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 302 MILLION EXPORT REVENUES IN 2025 6M TL 19,838 MILLION TURNOVER IN 2025 6M %5 2024 R&D expenditures in turnover 6,000 BUSES & 2,000 MICROBUS TACTICAL VEHICLES 3,939 Factory built on an area of APPROX. 300 YEARLY EMPLOYEES PRODUCTION (3.721 permanent employees) 552,000 M2 SALES & SE
Slide 7: Human Resources
06 HUMAN RESOURCES Undergraduate & Field Employee Office Employee Associate Degree High School Graduate 76% 24% 5% 2% 3% Associate Degree 16% Elementary OFFICE FIELD & High EMPLOYEE Undergraduate School EMPLOYEE 32% EMPLOYEE EDUCATION 67% Graduate & PhD. EDUCATION DISTRIBUTION 26% 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 43 44 31 32 32 32 33 34 60 29 30 25 26 26 40 20 22 19 19 60 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 2001 2006 2011 2016 2021 1997 1998 1999 2000 2002 2003 2004
Slide 10: Areas of Operation
09 AREAS OF OPERATION 2025 6M Total revenue : 10,886 mn TL 2,544 mn TL 3,968 mn TL 2,440 mn TL Domestic : 4,282 mn TL 2,427 mn TL 62 mn TL 1,062 mn TL Export : 6,604 mn TL 117 mn TL 3,906 mn TL 1,378 mn TL Export share* : 61% 5% 98% 56% Export share** : 33% 1% 20% 7% Rev. Contribution : 55% 13% 20%
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
COMMERCIAL VEHICLES – LOGISTICS, CARGO TRANSPORTATION, 12 AND PUBLIC SERVICES PRODUCT RANGE Logistics, Cargo Transportation and Public Services ATLAS 9 0 ATLAS11 ATLAS 11 ATLAS 3D 15 ATLAS 3D 15
Slide 14: Commercial Vehicles – Pick-up
13 COMMERCIAL VEHICLES– PICK-UP TUNLAND G-7 LOJİSTİK VE KARGO TAŞIMACILIĞI Tunland is designed to provide the perfect pick-up experience in every detail, with its state-of- the-art driving support systems, large interior volume and different equipment options.
Slide 15: Defense Industry Vehicles
14 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 16: Commercial Vehicles
15 COMMERCIAL VEHICLES APPROXIMATELY 1 OUT OF EVERY 3 BUSES SOLD IN TURKEY IN 2024 IS OTOKAR Approximately 1 out of every 3 buses sold in Turkey in 2024 is Otokar As a market leader in all bus segments, Otokar was the best-selling brand in Turkey. Otokar is the fourth largest bus manufacturer in Eur
Slide 17: Otokar 2025
16 OTOKAR 2025 Otokar became the most preferred bus brand in Turkey in 2024. While 1 out of every 3 buses sold in 2024 was Otokar branded, the company achieved market leadership for the 16th time in a row. Maintaining its success in export markets, Otokar reached the title of Europe's fourth largest
Slide 18: Otokar 2025
17 OTOKAR 2025 Otokar, Turkiye's global land systems manufacturer, is participating in LAAD Defence & Security 2025, South America's leading defense and security exhibition held in Rio de Janeiro between April 1-4. Otokar exhibited its modular armored tracked vehicle TULPAR. Visitors were informed a
Slide 19: Otokar 2025
18 OTOKAR 2025 Otokar, participated in DSEI Japan 2025 ExhibitioN held in Chiba, Japan between May 21-23. Otokar exhibited the scaled models of its world- renowned armored vehicles COBRA II and ARMA 8x8. Otokar had a strong presence at IDEF 2025 International Defence Industry Fair held at the Istanb
Slide 20: Backlog
19 BACKLOG Million Backlog 1.000 877 900 800 700 600 500 400 300 200 100 1 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 6M Year End Year End Year End Year End Year End Year End Year End Year End Year End Year End TL USD EUR The above backlog amounts and deliveries will be held directly
Slide 21: Why Otokar
20 WHY OTOKAR Leader Strong export performance and a R&D capabilities and flexible Products that are intellectual Market leader in Turkey global company production capability property rights Otokar for the last 16 years. Otokar, continues to grow New product development and The share of Otokar desig
Slide 22: Financial Indicators
21 FINANCIAL INDICATORS Balance Sheet (000 TL) 30.06.2025 31.12.2024 Current Assets 34.038.025 30.152.050 Fixed Assets 19.772.840 16.406.384 Total Assets 53.810.865 46.558.434 S.T. Liabilities 32.385.416 21.954.645 L.T. Liabilities 12.491.195 15.050.263 Shareholders Equity 8.934.254 9.553.526 Total
Slide 23: Financial Indicators
22 FINANCIAL INDICATORS Income St. (Million TL) 2025 6M 2024 6M Change (%) 2025 2Q 2024 2Q Change (%) Net Sales 19.838 17.517 13% 11.401 10.350 10% Gross Profit 4.390 2.633 67% 3.155 1.735 82% Operating Profit 1.231 -625 297% 1.522 -99 1.636% EBITDA 1.227 -907 235% 1.441 -18 7.927% Profit Before Tax
Slide 24: Revenue
23 REVENUE Million TL 15.000 11.400 10.350 10.000 8.437 7.168 7.566 7.531 5.000 3.284 3.884 3.965 4.473 3.869 2.784 0 2024 1Q 2024 2Q 2025 1Q 2025 2Q Domestic Export Total 2024 2Q 2025 2Q 2024 2Q 2025 2Q Other Other 11% Military 12% Military Domestic 20% Domestic 26% 27% 34% Commercial Export Export
Slide 25: Production & Sales Units, Revenue Distribution
24 1500 PRODUCTION & SALES UNITS 1000 500 0 Production Sales Production Sales Production Sales Bus Light Truck & Pickup Armoured 2024 1Q 2024 2Q 2025 1Q 2025 2Q REVENUE DISTRIBUTION L.Truck L.Truck 7,1% Other 5,6% Other 12,6% Pick-Up 12,3% 5,7% Armoured 11,9% Armoured 20,0% Bus Bus 69,9% 54,9% 2024
Slide 26: Gross Profit, Operating Profit, Net Profit
25 Million TL Gross Profit Million TL Operating Profit 5.000 30,0% 27,7% 13,3% 15,0% 4.000 25,0% 2.000 10,0% 3.155 20,0% 1.522 3.000 16,8% 14,6% 1.000 5,0% 12,5% 15,0% 2.000 1.735 -1,0% 0,0% 10,0% 898 1.235 -3,4% 0 1.000 5,0% -5,0% -99 -291 -7,3% 0 0,0% -1.000 -526 -10,0% 2024 1Q 2024 2Q 2025 1Q 202
Slide 27: Financial Indicators: Capital Expenditures
26 FINANCIAL INDICATORS Capital Expenditures Million TL 2000 1.794 1800 1600 1400 1.344 1200 1000 800 600 400 200 0 2024 6M 2025 6M Capital expenditures consist of improvements of production areas, modernization, productivity increase, maintenance and R&D investments.
Slide 28: Financial Indicators: Borrowings
27 FINANCIAL INDICATORS Million TL BORROWINGS 20.000 16.541 15.000 13.829 10.789 10.000 5.000 3.997 0 2024 2024 6M 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 considera
Slide 29: Financial Indicators: Stock Performance
28 FINANCIAL INDICATORS 2300% Stock Performance 1700% 1534% 1100% 828% 500% -100% OTKAR % BIST100% Million TL Market Capitalization 80.000 70.000 60.000 60.480 50.000 40.000 30.000 20.000 10.000 0
Slide 30: R&D and Testing Capabilities
29 R&D AND TESTING CAPABILITIES The number of patents Share of R&D expenditures in 408 applications since %5 659 R&D employee turnover in 2024 establishment Industrial product designs prepared with Computer-aided analysis and simulation Test and accreditation centers, which are modern technological
Slide 31: Leading the Sector with Innovative Products
30 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 32: Sustainability
31 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 33: 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 34: Corporate Governance
33 CORPORATE GOVERNANCE 62ND ORDINARY GENERAL ASSEMBLY OF OTOKAR OTOMOTİV VE SAVUNMA SANAYİ A.Ş. HELD ON 24.03.2025. 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 35: Contact
CONTACT Otokar Otokar Investor Relations Department Ataturk Cad. No:6 Avifiye 54580 Sakarya Ayce Cada Sahilloglu H.Galgah Mutt Emre Altug otokarir@otokar.com.tr 0549 224 06 79 Stretegy, Financial _—_otokarin@otokar.com.tr Control and Investor Relators Group Diroctor Investor Relations ctokarir@otoka
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