FINANCIAL RESULTS

SALES AND TURNOVER

As a result of the successful performance of its Egea-family and commercial-vehicle portfolios, Tofaş registered strong growth in its home-market sales in 2021.

SALES (TL THOUSAND)	2020	2021	CHANGE %
Export Sales	10,821,043	14,643,275	35.3
Domestic Sales	12,441,509	14,264,210	14.7
Other Income from Operational Activities	294,195	776,820	164.0
Total	23,556,747	29,684,305	26.0

SALES (UNITS)	DOMESTIC SALES		CHANGE	EXPORT SALES		CHANGE	TOTAL		CHANGE
	2020	2021	%	2020	2021	%	2020	2021	%
Passenger Cars	101,220	74,944	-26.0	61,502	45,536	-26.0	162,722	120,480	-26.0
Light Commercial Vehicles	40,356	47,365	+17.4	56,401	66,941	+18.7	96,757	114,306	+18.1
Total	141,576	122,309	-13.6	117,903	112,477	-4.6	259,479	234,786	-9.5

SALES (UNITS)	2020	2021	CHANGE (UNITS)
Domestic Sales	141,576	122,309	-19,267
Manufactured	131,313	115,982	-15,331
Egea Sedan	79,371	49,183	-30,188
Egea HB	11,124	21,677	-10,553
Doblò	23,952	28,865	4,913
Fiorino	16,867	16,257	-610
Imported	10,263	6,327	-3,936
Ducato	3,841	2,243	-1,598
Fiat 500	1,300	635	-665
Jeep®	4,587	2,906	-1,681
Fullback	1	0	-1
Alfa Romeo	241	172	-69
Panda	219	235	16
Maserati	51	101	50
Ferrari	22	35	13
Export Sales	117,903	112,477	-5,426
Tipo	19,153	16,278	-2,875
Tipo HB and SW	41,687	29,246	-12,441
Doblò	33,090	37,697	4,607
Ram	10,621	11,064	443
Minicargo	13,335	18,180	4,845
Others	17	12	5
Total	259,479	234,786	-24,693

INVESTMENTS AND R&D EXPENDITURES

Tofaş’s investments in 2021 amounted to EUR 100 million in value. The biggest share of Tofaş’s total investments in 2021 went to the company’s Egea Project.

2021 INVESTMENTS	EUR (MILLION)
Egea Family	61.9
Doblò	18
Structural	9.9
Minicargo	10.5
Total	100.3

Tofaş registered historically high levels in net profit in 2021.

PROFITABILITY

Tofaş registered historically high levels in net profit in 2021. The company’s net profit increased by 83.9% year-on and amounted to TL 3,281 million while its consolidated pre-tax profit was up by 91.8% and weighed in at TL 3,512 million. Tofaş’s EBITDA increased by 91.5% year-on and was recorded as TL 5,794 million.

YEARS	EBITDA		PROFIT BEFORE TAX		NET PROFIT
	TL thousand	Change %	TL thousand	Change %	TL thousand	Change %
2017	2,001,455	46.5%	1,229,472	54.1%	1,282,818	32.2%
2018	2,532,578	24.4%	1,290,894	5.0%	1,330,423	3.7%
2019	2,479,757	-2.1%	1,456,555	12.8%	1,481,639	11.4%
2020	3,025,512	22.0%	1,830,776	25.7%	1,784,170	20.4%
2021	5,794,126	91.5%	3,512,216	91.8%	3,281,316	83.9%