Otokar Otomotiv Ve Savunma Sanayi A.s. · BIST:OTKAR
Otokar Otomotiv Ve Savunma Sanayi A.s — Q1 2025 Earnings Presentation
36 slides from Otokar Otomotiv Ve Savunma Sanayi A.s's earnings presentation, April 2025
Slide 1: 2025 3-Month Financial Results
2025 3- 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 112 MILLION EXPORT REVENUES IN 2025 3M TL 7,960 MILLION TURNOVER IN 2025 3M %5 2024 R&D expenditures in turnover 6,000 BUSES & 2,000 MICROBUS TACTICAL VEHICLES 3,909 300 EMPLOYEES 552,000 M2 APPROX. YEARLY PRODUCTION PRODUCTION AREA SALES & SERVICE NETWORK CAPACITY (3.720 permanent e
Slide 7: Human Resources
06 HUMAN RESOURCES Undergraduate & Graduate Field Employee Office Employee Associate Degree High School 3% 76% 24% 5% 1% Associate Degree 16% Elementary & OFFICE FIELD High School EMPLOYEE 32% EMPLOYEE Undergraduate EMPLOYEE EDUCATION 67% 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 43 44 32 32 32 33 34 60 29 30 31 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 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Slide 10: Areas of Operation
09 AREAS OF OPERATION 2025 3M Total revenue : 5,044 mn TL 1.037 mn TL 914 mn TL 965 mn TL Rev. Contribution : 63% 13% 11% 12% Domestic : 2,229 mn TL 1,013 mn TL - 498 mn TL Export : 2,815 mn TL 24 mn TL 914 mn TL ARMORED 467 mn TL Export share* : 56% (bus) 2% 100% 48% (spare part) Export share** : 3
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 In the total of segments in which it operates Approximately 1 out of every 3 buses sold in Turkey in 2024 is Otokar The total of the segments in which it operates as a market leader, was the best-selling bra
Slide 17: Otokar 2024
16 OTOKAR 2024 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 2024
17 OTOKAR 2024 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: Backlog
18 BACKLOG Million Backlog 40.000 37.644 35.000 30.000 25.000 20.000 15.000 10.000 5.000 924 1 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 3M Year End 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 a
Slide 20: Why Otokar
19 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 Otokar, continues to grow New product development and The share of Otokar design bus segme
Slide 21: Financial Indicators
20 FINANCIAL INDICATORS Balance Sheet (000 TL) 31.03.2025 Current Assets 34.007.849 S.T. Liabilities 33.178.684 Fixed Assets 15.922.531 L.T. Liabilities 8.332.264 Shareholders Equity 8.419.432 Total Assets 49.930.380 Total Liabilities 49.930.380 Ratios 2025 3M 2024 Net Debt/Equity 1,68 2,42 ST. Borr
Slide 22: Financial Indicators
21 FINANCIAL INDICATORS Income St. (000 TL) 2025 3M 2024 3M Change (%) Net Sales 7.959.654 6.761.449 18% Gross Profit 1.164.777 847.195 38% Operating Profit -274.190 -496.123 45% EBITDA -202.152 -815.412 75% Profit Before Tax -738.254 -873.311 16% Net Profit -463.335 -576.337 20% Ratios 2025 3M 2024
Slide 23: Financial Indicators
22 FINANCIAL INDICATORS 2025 80% EXCHANGE CURRENCIES & CPI - PPI 60% 40% 20% 0% EURO USD CPI PPI 2024 EXCHANGE CURRENCIES & CPI - PPI 50% 40% 30% 20% 10% 0% Dec-23 Jan-24 Feb-24 Mar.24 Apr-24 May.24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 EURO USD CPI PPI
Slide 24: Sales
23 SALES Million TL 10.000 8.000 7.960 6.000 6.761 3.740 4.220 4.000 3.664 3.097 2.000 0 2024 3M 2025 3M Domestic Export Total 2024 3M 2025 3M Export Domestic Export 53% Domestic 46% 54% 47%
Slide 25: Revenue
24 REVENUE Million TL 10.000 8.000 7.960 5.688 6.761 6.081 6.000 4.000 2.000 1.063 914 965 10 0 2024 3M 2025 3M Commercial Military Other Total 2024 3M 2025 3M Other Other 16% 12% Military 12% Commercial Commercial 84% 76%
Slide 26: Production & Sales Units, Revenue Distribution
25 1.500 PRODUCTION & SALES UNITS 1.000 500 0 Production Sales Production Sales Production Sales Bus Light Truck & Pickup Armoured 2024 1Q 2025 1Q REVENUE DISTRIBUTION L.Truck L.Truck Other 6,5% 6,7% Other 12,1% Pick-Up 15,7% 6,6% Armoured 11,5% Bus Bus 77,6% 63,3% 2024 3M 2025 3M
Slide 27: Financial Indicators
26 FINANCIAL INDICATORS Million TL Gross Profit Million TL Operating Profit .000 20,0% 1.000 0,0% -1,0% 14,6% 15,0% -2,0% -3,4% 12,5% 0 1.165 -3,0% .000 10,0% -274 -4,0% 847 -496 -5,0% -1.000 5,0% -6,0% -7,0% -7,3% 0 0,0% -2.000 -8,0% 2024 3M 2025 3M 2024 3M 2025 3M Gross Profit Gross Profit Margin
Slide 28: Financial Indicators
27 FINANCIAL INDICATORS Capital Expenditures Million TL 800 738 700 660 600 500 400 300 200 100 0 2024 3M 2025 3M Capital expenditures consist of improvements of production areas, modernization, productivity increase, maintenance and R&D investments.
Slide 29: Financial Indicators
28 FINANCIAL INDICATORS Million TL BORROWINGS 20.000 15.000 13.156 12.882 10.249 10.000 7.368 5.000 0 2024 2024 3M 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 30: Financial Indicators
29 FINANCIAL INDICATORS 3500% Stock Performance 3000% 2500% 2000% 1500% 1000% 500% 0% OTKAR % BIST100% Market Capitalization Million TL 80.000 70.000 60.000 50.000 47.280 40.000 30.000 20.000 10.000 0
Slide 31: R&D and Testing Capabilities
30 R&D AND TESTING CAPABILITIES The number of patents Share of R&D expenditures in 408 applications since %5 661 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 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 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 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
Otokar Otomotiv ve Savunma Sanayi A.Ş. — Q1 2025 Earnings Presentation on 6ix