Otokar Otomotiv ve Savunma Sanayi : 2022 6M Results

01.01.2022 - 30.06.2022 FINANCIAL RESULTS

	Balance Sheet				30.06.2022
	(000 TL)
	Current Assets		5.327.863		S.T. Liabilities		4.231.428
	Fixed Assets		2.975.738		L.T. Liabilities		2.511.732
					Shareholders Equity
						1.560.441
	Total Assets		8.303.601		Total Liabilities		8.303.601

Dear Stakeholders,

The consolidated financial statements of our Company reflecting the first six months of 2022 activities and their results prepared pursuant to the provisions of the Turkish Financial Reporting Standards;

Otokar sales amounted to 3.651 million TL, 96% higher than last year. (2021 6M 1.860 million TL)

	Income Statement		2022 6M		2021 6M		Change (%)
	(000 TL)
	Net Sales		3.651.120		1.859.889		96%
	Gross Profit		1.204.604		670.319		80%
	Operating Profit		745.446		403.105		85%
	Profit Before Tax		527.240		357.463		48%
	Net Profit		542.789		396.504		37%

	Sales (000 TL)		2022 6M		2021 6M		Change (%)
	Domestic		1.413.603		670.350		111%			
	Export		2.237.517		1.189.539		88%			
	Total		3.651.120		1.859.889		96%			

Export revenues amounted to 2.238 million TL (2021 6M 1.190 million TL)

The share of exports in total turnover in the first six months of 2022 realized as 61% (2021 6M 64%)

Gross Profit was realized as 1.205 million TL (2021 6M 670 million TL), gross profit margin was realized as 33.0% in the first six months of 2022 (2021 6M 36.0%).

As a result of the first six months of 2022 financial results, our Company's net profit realized 543 million TL net profit (2021 6M 397 million TL net profit).

Our financial statements related to 01.01.2022 - 30.06.2022 interim period was published on the corporate website www.otokar.com.tr and KAP (Public Disclosure Platform).

	Unit			2022 6M		2021 6M			Change (%)
Production			1.487	1.084		37%
Sales			1.467	1.117		31%
	Margins				2022 6M			2021 6M
	Gross Margin			33,0%		36,0%
	Operating Margin			20,4%
				21,7%
	EBITDA Margin			15,4%		19,9%
	Net Margin			14,9%		21,3%

Million TL		Net Profit
600					40%
500					30%
400
300					20%
200					10%
100
0					0%
2021 1Q	2021 2Q	2021 3Q	2021 4Q	2022 1Q	2022 2Q
	Net Profit	Net Profit Margin (%)

Million TL	Gross Profit

1.000																50%
800																40%
600																30%
400																20%
200																10%
0														0%
		2021 1Q 2021 2Q 2021 3Q 2021 4Q 2022 1Q 2022 2Q
			Gross Profit				Gross Profit Margin (%)

	Financial Ratios		2022 6M		2021 6M
	Current Ratio		1,26		1,00
	Liquidity Ratio		0,66		0,54
	Current Assets/Total Assets		0,64		0,65
	Current Liabilities / Total Liabilities
		0,63		0,82
	Current&Non-current Liabilities / Total Assets		0,81		0,79
	Net Debt/Equity		1,90		1,67

 50 natural gas powered city buses purchased by Azerbaijan's

leading public transportation company, Xaliq Faiqoglu, started

service with a ceremony held in Baku.

 Otokar participated in DSA - 2022, in Malaysia's capital Kuala

Lumpur, and showcased its ARMA 6X6 and COBRA II vehicles.

 Otokar's BRT version of its Kent Articulated bus and its electric bus

Kent Electra won awards in the "Mobility" category at the BIG SEE

Awards 2022.

 Otokar promoted its broad armored vehicle product range in the

Million TL		Net Debt/EBITDA
3.500											4,00
3.000		3,59							2.971	3,50
2.500				2,55							3,00
		2,30	2,36				2,69
2.000				1,97		2,50
						1.734
									2,00
	1,93
1.500					1,34	1.321	1,90
						1.106	1,50
1.000									913
				534			672		1,00
		556	391	473		580432
500	303					0,50
155	170	186	227
0	157							0,00
	2014	2015	2016	2017	2018	2019	2020	2021	2022
										3M
	Net Debt		EBITDA			Net Debt/EBITDA(rhs)

														Dividend Yield
Million TL
600																																							10%
		8%				8%																							500
500																													8%
400							7%																							400	6%
																									5%		6%						6%
300
	3%											4%	3%							3%												4%
200
									100	80				2%	2%			200								2%
100										72
			48	64							72
	15								60	70
0																																		0%
		201020112012201320142015201620172018201920202021
													Dividend								Dividend Yield

foremost aerospace, defense and security exhibition of Latin

America, FIDAE 2022, on 5-10 April, in Santiago, Chile.

 Otokar delivered the first 20 of the 100 bus rapid transit (BRT) buses

as part of the tender that the IETT General Directorate awarded last

year. Otokar will complete the delivery of the 21mt, 200-passenger

capacity Otokar KENT C buses in 2022.

 Otokar brought innovation to the light truck segment with Atlas,

which first launched in 2013. Introduced its new 12-ton weight

capacity vehicle Atlas 3D in 2022.

 Otokar debuted its electric bus range, featuring models from 6mt to

19mt, at Busworld Türkiye 2022. The 6mt bus e-CENTRO and the

19mt articulated bus e-KENT became the highlights of the

exhibition.

 Otokar continues to promote its products and capabilities in the

defense industry, in different exhibitions. Otokar, exhibited its

ARMA 8x8 infantry fighting vehicle in HEMUS 2022 on June 01-04 in

Plovdiv, Bulgaria.

 Otokar promoted worldwide known 6 vehicles range in the

foremost defense industry exhibition of Europe, EUROSATORY

2022, on 13-17 June, in Paris, France.

Otokar owes its growth to the products of its own design and intellectual property rights, developed through engineering and research development capabilities. Defining its strategies as growing in the defense industry, increasing the share of exports in its turnover expanding on the backdrop of new models, Otokar carries on activities to reach these targets.

Our Company's total investments amounted to 116.0 million TL in 2022 6M.

As of June 30, 2022 our Company has 3.134 employees in total.

Otokar attended to MENA Transport Dubai in Dubai, DSA 2022 in Kuala Lumpur, FIDAE 2022 in Chile, ADAS 2022 in Philippines, Busworld 2022 in Turkey, HEMUS 2022 in Bulgaria, EUROSATORY 2022 in France and exhibited its own design and production vehicles.

DISCLAIMER

This Bulletin is prepared for our stakeholders to get the informations about the activities of our company easier, containing the summary informations in the 2022 6M financial statements that are disclosed on Public Disclosure Platform. In case of a discrepancy between this bulletin and the financial statements, financial statements shall prevail.