Defence and Commercial Vehicle Manufacturer Otokar increased its turnover by 91 per cent in the first quarter. Otokar, a Koç Group company, announced its financial results for the first three months of 2021. Signing a significant amount of export agreements in 2020 despite the effects of the pandemic, Otokar increased its turnover by 91 per cent in the first quarter and achieved a turnover of 877 million TL.
Otokar increased its exports by 44 per cent in the first quarter to 69 million USD compared to the same period of the previous year. It increased its net profit to 107 million TL.
Otokar shared the 2021 first-quarter financial results. General Manager Serdar Görgüç stated that Otokar’s efforts to become a global brand despite the effects of the pandemic would continue. Görgüç said, “Since the beginning of the pandemic, we have taken all necessary measures to protect the health of our employees, ensure the continuity of our business, reduce the impact of the epidemic and prevent its spread. We have always been with our business partners during this challenging process and maintained our communication with our end-users; we signed new agreements despite all the conditions. Thanks to our safe production practices and timely measures, we focused on delivering the orders we received without any disruptions in production. As a result of these developments, we achieved a turnover of 877 million TL with an increase of 91 per cent in the first quarter compared to the same period of the previous year; “We increased our net profit to 107 million TL”.
Görgüç gave information about the domestic market as well. “We won the biggest bus auctions in the domestic market last year and Izmir Metropolitan Municipality. We started bus deliveries to ESHOT ( İzmir Metropolitan Municipality General Directorate, responsible for public transportation service). Despite cancelled fairs and travel obstacles, we continued our communication and relations with our target markets. We continued to interpret the needs of our users correctly and offer unique solutions“ Görgüç said.
Otokar developed the Altay Main Battle Tank. It produces Wheeled Armoured, Tracked Armoured vehicles and Turret Systems for armoured vehicles.
