Otokar Otomotiv Ve Savunma Sanayi A.s. · BIST:OTKAR
Otokar Otomotiv Ve Savunma Sanayi A.s — Q1 2026 Earnings Presentation
52 slides from Otokar Otomotiv Ve Savunma Sanayi A.s's earnings presentation, May 2026
Slide 1: 2026 Q1 Investor Presentation
2026 – Q1 INVESTOR PRESENTATION www.otokar.com.tr
Slide 2: Contents
2 INVESTOR PRESENTATION 202 6 – 3M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY COMPANY PROFILE 3 HIGHLIGHTS 28 Highlights – 2026 3M 27 4 Key Highlights 6 Why Otokar? 7 Shareholder Structure 9 10 11 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 – 3M 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 Highlights: revenue, gross profit, EBITDA
5 INVESTOR PRESENTATION 202 6 – 3M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY 9.547 215 %51 MILLION TL MILLION EXPORT SHARE REVENUE USD DOLLARS REVENUE 432 -17% -1,6 MILLION TL EBITDA MARGIN BILLION TL GROSS PROFIT EBITDA
Slide 6: Why Otokar?
6 INVESTOR PRESENTATION 202 6 – 3M 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 – 3M 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: Türkiye's Largest Investment Holding Company
8 INVESTOR PRESENTATION 202 6 – 3M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY TÜRKİYE’S LARGEST INVESTMENT HOLDING COMPANY Otokar’s Main Shareholder KOÇ GROUP SECTORS Energy Employs 131,000 people Automotive Share of Reve
Slide 9: History
9 INVESTOR PRESENTATION 202 6 – 3M 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 – 3M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY PRODUCTION CAPACITY capacity COMPETITIVE (ANNUAL – SINGLE SHIFT) 49% utilization ADVANTAGE rate Capacity to achieve high production 6,000 Bus/
Slide 11: R&D and Test Capabilities
11 INVESTOR PRESENTATION 202 6 – 3M 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 12: Autonomous e-Centro deployed in Europe
12 INVESTOR PRESENTATION 202 6 – 3M 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 13: Human Resources
13 INVESTOR PRESENTATION 202 6 – 3M 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 17 29 4.4
Slide 14: Otokar Worldwide
14 INVESTOR PRESENTATION 202 6 – 3M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY OTOKAR WORLDWIDE HEADQUARTERS(TÜRKİYE- İSTANBUL) FACTORY (TÜRKİYE- SAKARYA) OTOKAR EUROPE FILIALA BUCURESTI S.R.L. (ROMANIA) OTOKAR LAND SYSTE
Slide 15: 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 16: Commercial Vehicles and Defense Industry
16 INVESTOR PRESENTATION 202 6 – 3M 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 17: Commercial Vehicles
17 INVESTOR PRESENTATION 202 6 – 3M 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 18: Passenger Transportation Product Range
18 INVESTOR PRESENTATION 202 6 – 3M 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 19: Logistics Vehicles: Light Truck
19 INVESTOR PRESENTATION 202 6 – 3M 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 20: Logistics Vehicles: Pick-up
20 INVESTOR PRESENTATION 202 6 – 3M 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 21: Defense Industry
21 INVESTOR PRESENTATION 202 6 – 3M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY Export leader in Over 33 thousand military Developing local Türkiye's land platforms vehicles actively serving in production capabilities for
Slide 22: Tactical Wheeled Vehicles and Tracked Armored Vehicles
22 INVESTOR PRESENTATION 202 6 – 3M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY TACTICAL WHEELED VEHICLES TRACKED ARMORED VEHICLES
Slide 23: Electric Armored Vehicles, Robotic Vehicles, Turret Systems
23 INVESTOR PRESENTATION 202 6 – 3M 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 24: 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 25: Order Structure: Backlog
25 INVESTOR PRESENTATION 202 6 – 3M 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 26: Backlog
26 INVESTOR PRESENTATION 202 6 – 3M 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 27: Highlights – 2026 3 Months
HIGHLIGHTS 2026 – 3 Months
Slide 28: Highlights 2026 3M
28 INVESTOR PRESENTATION 202 6 – 3M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY A delivery of 201 In line with its objective to The Share Purchase vehicles was completed strengthen its strategic Agreement for the as part o
Slide 29: Financial Overview
FINANCIAL OVERVIEW 2025
Slide 30: Financial Indicators
30 INVESTOR PRESENTATION 202 6 – 3M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY FINANCIAL INDICATORS Sales Revenues Profitability EBITDA and Net Profit 2026 – 3M 2026 – 3M 2026 – 3M 9,5 billion TL 8% 432 million TL 72% -1,
Slide 31: Areas of Operation
31 INVESTOR PRESENTATION 202 6 – 3M 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 32: Financial Indicators: Income Statement
32 INVESTOR PRESENTATION 202 6 – 3M 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) 3M 3M * 3M (%) (%)* Net Sales 9.547 11.072 10.416 -8% 6% Gross Profi
Slide 33: Financial Indicators: Revenue Distribution
33 INVESTOR PRESENTATION 202 6 – 3M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY FINANCIAL INDICATORS REVENUE DISTRIBUTION Revenue (Million TL) Other 12% Defense 12% Other 11% Defense 11% 21.653 2025 2026 1Q 1Q 14.073 15.91
Slide 34: Financial Indicators: Gross Profit Margin
34 INVESTOR PRESENTATION 202 6 – 3M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY FINANCIAL INDICATORS GROSS PROFIT MARGIN Gross Profit (Million TL) 4,5% The gross profit 27,7% margin for 2026 first three months 3.895 18,7%
Slide 35: Financial Indicators: EBITDA
35 INVESTOR PRESENTATION 202 6 – 3M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY FINANCIAL INDICATORS EBITDA EBITDA (Million TL) 12,6% 1.779 3,2% 684 EBITDA amounted to a loss of 1.6 billion TL. -17,3% -2,5% 1,6% 171 -264 D
Slide 36: Financial Indicators: Net Profit
36 INVESTOR PRESENTATION 202 6 – 3M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY FINANCIAL INDICATORS Net Profit Net Profit (Million TL) A net loss of 1,6 billion -16,8% TL was realized due to the negative impact of EBITDA
Slide 37: Financial Indicators: Cash Flow Statement
37 INVESTOR PRESENTATION 202 20256 – 3M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY FINANCIAL INDICATORS Cash Flow Statement (Million TL) 31.03.2026 31.03.2025 Cash Flows from Operating Activities -1.622 -11.200 Cash Flows
Slide 38: Financial Indicators: Balance Sheet
38 INVESTOR PRESENTATION 202 6 – 3M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY FINANCIAL INDICATORS Balance Sheet (million TL) 31.03.2026 31.03.2025 Ratios 31.03.2026 31.03.2025 Current Assets 45.531 47.446 Current Ratio
Slide 39: Financial Indicators: Borrowings
39 INVESTOR PRESENTATION 202 6 – 3M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY FINANCIAL INDICATORS Borrowings (Million TL) While an increase was observed in total financial debt and 25.923 net debt levels, short-term bor
Slide 40: R&D and Product Investments
40 INVESTOR PRESENTATION 202 6 – 3M 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) 4.000 R&D and Product Digital Modernization and Efficien
Slide 41: Financial Outlook: Past Periods
FINANCIAL OUTLOOK PAST PERIODS (Year end)
Slide 42: Balance Sheet and Ratios
42 INVESTOR PRESENTATION 202 6 – 3M 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 43: Income Statement and Sales Units
43 INVESTOR PRESENTATION 202 6 – 3M 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 44: Revenue Contribution
44 INVESTOR PRESENTATION 202 6 – 3M 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 45: 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 46: Corporate Governance: Indexes and Credit Ratings
46 INVESTOR PRESENTATION 202 6 – 3M 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 47: Stock Performance
47 INVESTOR PRESENTATION 202 6 – 3M COMPANY PROFILE PRODUCT RANGE ORDER STRUCTURE FINANCIAL OUTLOOK CORPORATE GOVERNANCE AND SHARE PERFORMANCE SUSTAINABILITY Stock Performance Market Capitalization 915% Million TL 484% 45.120 OTKAR % BIST100% Foreign Ownership Ratio 38,01 37,06 35,78 35,75 29,53 18,
Slide 48: Dividend Distribution
48 INVESTOR PRESENTATION 202 6 – 3M 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 49: Sustainability
SUSTAINABILITY Otokar has been transparently sharing its economic, social and environmental performance through reports compliant with GRI standards since 2013.
Slide 50: Sustainability
50 INVESTOR PRESENTATION 202 6 – 3M 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 51: Inflation accounting and disclaimer
51 INVESTOR PRESENTATION 202 6 – 3M 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 52: Investor Relations Contacts
www.otokar.com.tr OTOKAR OTOMOTİV VE Ayça Çağla Sahillioğlu Hatice Gülşah Mutlu Emre Altuğ SAVUNMA SANAYi A.Ş Strategy, Financial Investor Relations and Investor Relations and Otokar Investor Control and Investor Corporate Governance Corporate Governance Relations Department Relations Group Leader S
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