Otokar Increases Exports Share of Turnover to 81% as Global Expansion Continues

Date: Issue 94 - September 2019

August 1, 2019  Otokar, a Koç Group company, announced its 2019 H1 results. As Otokar focused on exports, the share of exports in turnover rose to 81 percent in the first six month of 2019. Otokar General Manager Serdar GÖRGÜÇ expressed their pleasure about Otokar’s first half results and noted that the company’s turnover reached TL 1.3 billion as exports increased five-fold year-on-year, “With a broad range of commercial and military vehicles, technology, design capabilities and solutions developed and tailored to client needs, Otokar is preferred more and more with each passing year. We are moving with confident steps toward our goals with our innovative product range and services.”

Otokar, Turkey’s leading automotive and defence industry company that operates in more than 60 countries across five continents with products with owned intellectual property rights, announced its first half results for 2019. With several deliveries of commercial and defence industry vehicles, Otokar completed the first half of 2019 with TL 1.3 billion in turnover, achieving an increase of 163 percent year-on-year. In the same period, Otokar also succeeded in increasing its exports five-fold. In addition to surpassing its 2018 margins, Otokar also increased the share of exports in its total turnover to 81 percent. 

General Manager Serdar GÖRGÜÇ explained that Otokar raised the share of exports in total turnover from the 30 percent level in the same period of the previous year to 81 percent, thanks to export-focused activities, “We started 2019 with the goals of maintaining our leadership in the domestic bus market, and raising our export targets both in commercial and defence industry vehicles. In the first six months, we were able to reach almost the total performance of the previous year, and we are very pleased with the results. Our engineering capabilities, skilled human resource, extensive product range, solutions developed and tailored to client needs, strong sales network and aftersales services are admired and preferred by more than 60 countries worldwide as we continue to increase our sales figures. The share of exports in our total turnover, which was 65 percent as of year-end 2018, rose to 81 percent in the first six months of this year. Compared to the first six months of the previous year, our exports grew nearly five-fold as turnover reached TL1.3 billion and profits rose to TL 195 million.”

GÖRGÜÇ noted that Otokar has allocated nearly 8.5 of its revenues for R&D activities in the last 10 years, and added that the company continues to elevate its position in international markets with its own production vehicles: “The vehicles designed by our engineers with our own technologies, our applications and the commercial vehicles developed and tailored to operators’ requirements are serving millions of passengers around the world. We are also a leader in the defence industry with products that we develop and manufacture against present and future threats as we strive to provide the best products and services for more than 50 users, and in particular our armed and police forces. As a pioneer in both commercial vehicles and the defence industry with numerous firsts to our name, we are moving with confidence toward our goals. We meet the expectations of our customers by accurately interpreting their needs to expand our presence in target markets.”