Otokar Increased Its Turnover by 91 Percent in the First Quarter

Otokar increased its turnover by percentage in the first quarter
Otokar increased its turnover by percentage in the first quarter

Otokar, one of the Koç Group companies, announced its financial results for the first three months of 2021. Signing significant export agreements in 2020 despite the effects of the pandemic, Otokar increased its turnover by 91 percent in the first quarter and achieved a turnover of 877 million TL. Continuing with bold steps to reach its goal of becoming a global player, Otokar increased its exports by 69 percent in the first quarter to 44 million USD compared to the same period of the previous year. It increased its net profit to 107 million TL.

Intellectual property rights showing its own products with operations in more than 5 countries in 65 continents, Turkey's leading company in the automotive and defense industry, Otokar shared the 2021 first quarter financial results. Stating that the efforts continue with the goal of becoming a global brand despite the effects of the pandemic, General Manager Serdar Görgüç said, “Since the beginning of the pandemic, we have taken all necessary measures to protect the health of our employees, to ensure the continuity of our business, to reduce the impact of the epidemic and to prevent its spread. In this difficult process, we have always been with our business partners and maintained our communication with our users; Despite all the conditions, we signed new agreements. Our safe production practices and zamThanks to the measures taken immediately, we focused on the delivery of the orders we received without any disruptions in production. As a result of these developments, we achieved a turnover of 91 million TL with an increase of 877 percent in the first quarter compared to the same period of the previous year; “We increased our net profit to 107 million TL”.

the production units in the first quarter of the previous year they increased 32 percent over the same period, representing Serdar Görgüç, with regard to the domestic market and export operation: "12 years of Turkey's most preferred brand in the bus. Last year, we won the biggest bus purchase tender in the domestic market and started bus deliveries to ESHOT, a subsidiary of Izmir Metropolitan Municipality. Despite canceled fairs and travel barriers, we maintained our communication and relationships with our target markets. We continued to interpret the needs of our users correctly and offer special solutions. We added new ones to our export achievements with our innovative solutions and approach applied in our vehicles and increased our exports by 44 percent in the first quarter compared to the same period of the previous year, to 69 million USD ”.

Stating that the greatest strength and most valuable capital of Otokar in achieving successful business results in this difficult period is its employees, Görgüç stated that they will continue to focus on exports by maintaining their strong domestic market position in commercial vehicles in the coming period.

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