Turkey · Delayed Price · Currency is TRY Dogus Otomotiv Servis ve Ticaret A.S. Earnings Call Transcripts
Fiscal Year 2025
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Sales volumes and market share improved year-over-year, with revenue up 2% to TRY 105 billion, but net profit and EBITDA declined due to gross profit normalization, higher financing costs, and a one-off earthquake donation. New distributorships and sustainability achievements were highlighted.
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Q1 2025 saw stable sales volumes and record market share in key segments, but turnover and profitability declined due to lower gross margins and one-time social responsibility donations. Dividend payments totaling TRY 8 billion are scheduled, and EV sales are targeted to exceed 10,000 units in 2025.
Fiscal Year 2024
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Sales rose 8% year-over-year, with strong EV growth and market share gains. Revenue and EBITDA declined due to normalization and one-off items, but early 2025 results exceeded expectations. Inflation accounting and one-off provisions notably impacted net profit.
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Revenue fell 20% year-over-year to TRY 120 billion, with net profit at TRY 6 billion as margins normalized and inflation accounting weighed on results. Commercial vehicle sales rose over 30%, and EV launches are accelerating, with all brands entering the Turkish EV market by Q1 2025.
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Sales rose 4% year-over-year in H1 2024, but net profit dropped 58% due to inflation accounting and normalized margins. Commercial vehicle sales surged over 40%, while capital expenditures and sustainability initiatives advanced. Market share and financial stability were maintained.
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Q1 2024 saw a 2% revenue increase and a 50% drop in net profit year-over-year due to inflation accounting and one-time earthquake-related expenses. Market share declined slightly, but profitability remains above historical averages, with strong commercial vehicle sales and reduced financial liabilities.