Otokar Otomotiv Ve Savunma Sanayi A.s. · BIST:OTKAR
Otokar Otomotiv Ve Savunma Sanayi A.s — H1 2026 Earnings Presentation
55 slides from Otokar Otomotiv Ve Savunma Sanayi A.s's earnings presentation, August 2026
Slide 1: 2026 – Q2 Investor Presentation
2026 – Q2 INVESTOR PRESENTATION www.otokar.com.tr
Slide 2: Investor Presentation 2026 – 6M contents
2 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY COMPANY PROFILE 3 HIGHLIGHTS 30 Highlights – 2026 6M 29 4 Key Highlights 6 Why Otokar? 7 Shareholder Structure 9 10 12 History Production Facil
Slide 3: Company Profile
COMPANY PROFILE As Türkiye’s leading commercial vehicle and defense industry manufacturer, Otokar offers tailor-made solutions to meet customer needs through its proprietary technology, design, and implementations.
Slide 4: Key Highlights
4 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY EXPORT LEADER IN LEADER OF THE OTOKAR IS GROWING TÜRKİYE'S LAND TURKISH BUS STRONGER GLOBALLY PLATFORMS FOR TWO MARKET FOR THE CONSECUTIVE YEAR
Slide 5: Key financial figures
5 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY 21.170 455 %52 MILLION TL MILLION EXPORT SHARE REVENUE USD DOLLARS REVENUE 1.888 -11% -2.352 MILLION TL EBITDA MARGIN BILLION TL GROSS PROFIT E
Slide 6: Why Otokar?
6 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY PIONEER BALANCED EXPORT-FOCUSED BUSINESS MODEL GROWTH The most preferred bus brand in A balanced business model Global growth through Türkiye f
Slide 7: Shareholder Structure
7 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY FOUNDED IN 1963 LOCAL CAPITAL 100% 47% KOÇ HOLDİNG A.Ş. 25% SHAREHOLDING STRUCTURE ÜNVER HOLDİNG A.Ş. 28% OTHER As announced in the material Co
Slide 8: Koç Holding: Otokar's main shareholder
8 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY TÜRKİYE’S LARGEST INVESTMENT HOLDING COMPANY Otokar’s Main Shareholder Main Companies Employs ~ 120,000 people1 4 Share of Revenue in Türkiye’s
Slide 9: History
9 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY 1970s 2010s 2020s 1960s Production of minibuses for public transportation Incorporation of Otokar Europe SAS in France Production agreement bet
Slide 10: Production Capacity
10 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY PRODUCTION CAPACITY capacity COMPETITIVE (ANNUAL – SINGLE SHIFT) 63% utilization ADVANTAGE rate Capacity to achieve high production 6,000 Bus/
Slide 11: Romania facility acquisition
11 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY 140.000 m2 factory area The acquisition process was successfully finalized on June 3, 2026. Otokar has added the Romanian company to its subsi
Slide 12: R&D and Test Capabilities
12 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY Climatized Test Chamber with One of Türkiye’s and the world’s Türkiye’s highest-capacity Dynamometer, Türkiye’s first and few modern, accredit
Slide 13: Autonomous e-Centro deployed in Madrid
13 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY The Level 4+ autonomous city bus, Autonomous e-Centro, has been deployed on the roads in Europe. In accordance with Spain's ‘’efficient and su
Slide 14: Human Resources
14 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY HUMAN RESOURCES Educational Distribution of Field Educational Distribution of Office Employees (%) Employees (%) Number of Employees 16 26 4.1
Slide 15: Otokar Worldwide
15 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY OTOKAR WORLDWIDE HEADQUARTERS(TÜRKİYE- İSTANBUL) OTOKAR EUROPE FILIALA BUCURESTI S.R.L. (ROMAIA) FACTORY (TÜRKİYE- SAKARYA) OTOKAR LAND SYSTEM
Slide 16: Product Range
PRODUCT RANGE Otokar manufactures various types of tactical wheeled and tracked armored vehicles and turret systems for the defense industry, as well as buses and light trucks in the commercial vehicle segment, while also managing the import and sales operations of pick-up trucks.
Slide 17: Commercial Vehicles and Defense Industry
17 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY COMMERCIAL DEFENSE VEHICLES INDUSTRY PASSENGER TACTICAL WHEELED TRANSPORTATION VEHICLES CARGO TRACKED ARMORED TRANSPORTATION VEHICLES TURRET S
Slide 18: Commercial Vehicles
18 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY Türkiye’s broadest 9, 11, and 15-ton The Foton Tunland bus range diesel trucks 4x4 pick-up was launched in 2024, Türkiye's very first followed
Slide 19: Passenger Transportation Product Range
19 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY DIESEL VEHICLES ALTERNATIVE FUELED VEHICLES CENTRO E-CENTRO NAVIGO / AUTONOMOUS SULTAN E-CENTRO DORUK/ KENT CNG PASSENGER VECTIO TRANSPORTATIO
Slide 20: Light truck: flexible structure adaptable to various services
20 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY ATLAS 9 Garbage Truck Road Sweeper Truck Hydraulic Platform Towing Truck Dump Truck Fire truck e-ATLAS LOGISTICS Sewage Flexible structure VEH
Slide 21: Logistics Vehicles Pick-up
21 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY LOGISTICS VEHICLES PICK-UP Tunland was designed to deliver a perfect pick-up experience in every detail, featuring state-of-the-art driving as
Slide 22: Defense Industry
22 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY Export leader in Over 33 thousand military With the acquisition realized in Türkiye's land platforms vehicles actively serving in Romania, a s
Slide 23: Tactical Wheeled Vehicles and Tracked Armored Vehicles
23 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY TACTICAL WHEELED VEHICLES TRACKED ARMORED VEHICLES
Slide 24: Electric, Robotic Vehicles and Turret Systems
24 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY ELECTRIC ROBOTIC AND ARMORED UNMANNED VEHICLES LAND VEHICLES TURRET SYSTEMS Open Turrets Mızrak Small Caliber One-Man Turret Mızrak Medium Cal
Slide 25: Order Structure
ORDER STRUCTURE Otokar is a registered NATO and UN supplier, with more than 33,000 military vehicles in service across more than 45 friendly and allied countries on five continents.
Slide 26: Backlog structure
26 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY Backlog Contracted and publicly disclosed large-scale projects. Revenue stream and high operational predictability for the coming years. Multi
Slide 27: International Collaborations
27 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY Long-term strategic partnerships with INTERNATIONAL COLLABORATIONS global manufacturers confirm our international engineering and manufacturin
Slide 28: Backlog
28 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY BACKLOG The backlog amounts are related to significant projects for which deliveries will be made directly by Otokar Otomotiv ve Savunma Sanay
Slide 29: 2026 – 6 Months Highlights
HIGHLIGHTS 2026 – 6 Months
Slide 30: Highlights 2026 6M
30 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY Otokar participated in SAHA EXPO Otokar has completed the Otokar has commissioned a 10 2026 International Defence, acquisition process of defe
Slide 31: Financial Overview
FINANCIAL OVERVIEW 2026
Slide 32: Financial Indicators
32 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY FINANCIAL INDICATORS Sales Revenues Profitability EBITDA and Net Profit 2026 – 6M 2026 – 6M 2026 – 6M 21,2 billion TL 19% 1,9 billion TL 67% -
Slide 33: Areas of Operation
33 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY AREAS OF OPERATION PASSENGER CARGO TACTICAL WHEELED & TRACKED SPARE PARTS, SERVICE AND TRANSPORTATION TRANSPORTATION ARMORED VEHICLES** OTHER
Slide 34: Financial Indicators: income statement
34 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY FINANCIAL INDICATORS Income St. 2026 2026 2025 Change Change (million TL) 6M 6M * 6M (%) (%)* Net Sales 21.170 22.848 26.208 -19% -13% Gross P
Slide 35: Financial Indicators: Revenue Distribution
35 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY FINANCIAL INDICATORS REVENUE DISTRIBUTION Other 12% Defense 1% Other 16% Revenue (Million TL) Defense 26% 23.173 2025 2026 2Q 2Q Commercial 62
Slide 36: Financial Indicators: Gross Profit Margin
36 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY FINANCIAL INDICATORS GROSS PROFIT MARGIN Gross Profit (Million TL) 8,9% The gross profit 27,7% margin for 2026 first six months is 23.173 18,7
Slide 37: Financial Indicators: EBITDA
37 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY FINANCIAL INDICATORS EBITDA EBITDA (Million TL) 12,6% EBITDA amounted to a -11% 1.904 loss of 2.4 billion TL. 3,2% 732 -2,5% 1,6% 183 -5,4% -2
Slide 38: Financial Indicators: Net Profit/Loss
38 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY FINANCIAL INDICATORS Net Profit/Loss Net Profit (Million TL) 3,6% A net loss of 4.5 billion TL has been recorded. -21,2% 544 -432 -5,1% -649 D
Slide 39: Financial Indicators: Cash Flow Statement
39 INVESTOR PRESENTATION 202 20256 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY FINANCIAL INDICATORS Cash Flow Statement (Million TL) 30.06.2026 30.06.2025 Cash Flows from Operating Activities -5.138 9.980 Cash Flows f
Slide 40: Financial Indicators: Balance Sheet
40 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY FINANCIAL INDICATORS Balance Sheet (million TL) 30.06.2026 31.12.2025 Ratios 30.06.2026 31.12.2025 Current Assets 45.984 50.773 Current Ratio
Slide 41: Financial Indicators: Borrowings
41 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY FINANCIAL INDICATORS Borrowings (Million TL) In the first half, the financing structure was optimized by 32.519 replacing short-term borrowing
Slide 42: R&D and Product Investments
42 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY FINANCIAL INDICATORS R&D AND PRODUCT INVESTMENTS Investment Expenditures (Million TL) 4.500 R&D and Product Digital Modernization and Efficien
Slide 43: Financial Outlook Past Periods
FINANCIAL OUTLOOK PAST PERIODS (Year end)
Slide 44: Balance Sheet
44 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY Balance Sheet 31.12.2021* 31.12.2022** 31.12.2023** 31.12.2024** 31.12.2025*** (Thousand TL) Current Assets 3.960.425 34.544.662 45.541.832 34
Slide 45: Income Statement and Sales Units
45 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY Income Statement 31.12.2021* 31.12.2022** 31.12.2023** 31.12.2024** 31.12.2025*** (Thousand TL) Revenue 4.508.874 33.674.444 51.476.268 44.112
Slide 46: Revenue Contribution
46 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY FINANCIAL INDICATORS Revenue Contribution (Million TL) 51.476 51.962 51.476 51.962 44.112 34.219 37.809 44.112 10.708 28.559 13.921 33.674 33.
Slide 47: Corporate Governance and Stock Performance
CORPORATE GOVERNANCE AND STOCK PERFORMANCE Strong corporate governance practices enhance investor confidence, positively supporting a company's market value and share performance. Transparency, accountability, and effective risk management are key elements that are carefully considered.
Slide 48: Indexes Included In and credit ratings
48 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY (OTKAR) INDEXES INCLUDED IN BIST 100 Long-Term National Institution Credit Rating: A (tr) / (Stable BIST 100-30 Outlook) Short-Term National B
Slide 49: Stock Performance
49 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY Stock Performance Market Capitalization Milyon TL 854% 454% 36.480 OTKAR % BIST100% Foreign Ownership Ratio 38,01 37,06 35,78 29,53 32,84 18,9
Slide 50: Dividend Distribution
50 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY DIVIDEND DISTRIBUTION 86% 71% 65% 2.914 2.841 57% 48% 44% 25% 1.042 618 0% 720 0% 0% 60 70 70 99 72 164 200 352 400 500 0 0 0 -1.459 -3.104 20
Slide 51: Sustainability
SUSTAINABILITY Otokar has been transparently sharing its economic, social and environmental performance through reports compliant with GRI standards since 2013.
Slide 52: Sustainability
52 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY Otokar aims to create long-term value by combining economic, environmental and social factors with corporate governance principles. In line wi
Slide 53: Solar Power Plant Project
53 YATIRIMCI SUNUMU 2026 – 6A ŞİRKET PROFİLİ ÜRÜN GRUPLARI SİPARİŞ YAPISI FİNANSAL GÖRÜNÜM KURUMSAL YÖNETİM VE HİSSE PERFORMANSI SÜRDÜRÜLEBİLİRLİK SOLAR POWER PLANT PROJECT In line with sustainability and energy efficiency targets, a significant renewable energy investment was realized with the comm
Slide 54: Inflation accounting and disclaimer
54 INVESTOR PRESENTATION 202 6 – 6M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY It has been publicly announced with the Capital Markets Board Bulletin dated 28.12.2023 and numbered 2023/81 that issuers and capital market i
Slide 55: Investor Relations contact
Otokar Otomotiv ve Savunma Sanayi A.Ş. Investor Relations Web Site Annual Report 2025 Sustainability Report 2025 Contact the IR team : otokarir@otokar.com.tr +90 850 284 54 54 Ayça Çağla Sahillioğlu, Strategy, Financial Control and Investor Relations Group Director Hatice Gülşah Mutlu, Investor Rela
Otokar Otomotiv ve Savunma Sanayi A.Ş. — H1 2026 Earnings Presentation on 6ix