Otokar, one of the Koç Group companies, announced its financial results for 2021. The company continued its steady growth in 2021.
Turkey’s leading automotive and defense industry company Otokar shared its 2021 financial results. Otokar, which takes bold steps towards its global goals and operates in more than 60 countries in 5 continents, completed 2021 with a 55 percent growth in turnover compared to the previous year.
Otokar General Manager Serdar Görgüç stated that they continue their activities in the domestic and foreign markets under the ongoing coronavirus pandemic conditions. “In 2021, our turnover reached 4.5 billion TL with an increase of 55 percent compared to the same period of the previous year. We maintained our competitive position on a global scale and increased our exports to the level of 345 million USD. Our operating profit increased by 69 percent compared to the previous year and reached 1 billion 76 million TL, and our net profit reached 1 billion 42 million TL. In 2021, our commercial vehicle and defense industry sales showed a balanced distribution within our turnover.”
Görgüç said, “Our research and development investments increased by 49 percent compared to the previous year and amounted to a total of 300 million TL, while the average share of our R&D expenditures in our turnover in the last 10 years has been 8 percent.
In 2021, we continued our growth in our target market, Europe. Our buses that we produced for the capital of Slovakia started to serve. While we continue to export to countries such as Spain, France, Germany and Italy in Europe, we also received high volume orders from the Middle East. We take great pride in the fact that our buses designed and manufactured in Turkey are used in metropolises all over the world.
YOU MAY BE INTERESTED
Municipalities that have adopted sustainable urbanism within the scope of combating climate change, especially in Europe, continued to prefer alternative fuel vehicles in 2021. Our company, which is an important player in the global competition for alternative fuel vehicles, has received orders for natural gas city buses from Romania and Azerbaijan, as well as from Ukraine.
Otokar also showed itself in the field of defense industry
“In the fields of automotive and defense industry a global player We will continue our work without compromising our goal of being While maintaining our domestic leadership position in commercial vehicles, we aim to increase the number of vehicles and our market share in foreign markets, especially in Europe.
We will continue to offer our products and capabilities in the field of defense industry to the benefit of our country, and we will work to increase our presence in our target markets abroad. Our greatest strength will be the selfless efforts of our employees, the trust of our users, and the harmony and cooperation we maintain with our business partners in order to achieve these goals.”