Otokar reports sales increase of 55% and announces strong growth in 2021
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By Bradley Osborne - 22nd March 2022
Turkey - Otokar Otomotiv ve Savunma Sanayi AŞ (Otokar), a commercial vehicle manufacturer and subsidiary of Koç Holding AŞ based in Sakarya, Turkey, has released its 2021 results, showing strong revenue growth of 55% from approximately TRY2.9bn to TRY4.5bn.
The company’s net operating profit saw a bigger increase of 69%, to TRY 1.76bn (2020: TRY1.04bn), while its exports totalled USD345m. These positive results in part reflect the growth of Otokar’s share of the bus market in Turkey – see separate statistical report in this issue. The manufacturer also noted that sales of the 8.5-ton ‘Atlas’ truck have also increased.
