Tofaş's net profit for 2021 reached 3 billion 281 million

Tofaş Turkish Automobile Factory A.Ş. announced its 2021 consolidated balance sheet to the Public Disclosure Platform (KAP). Tofaş achieved a net profit of 1 billion 217 million TL in the last quarter of 2021, exceeding the market expectation of 970 million TL. While the company's last quarter profit increased by 90 percent on an annual basis, its net profit margin in the same period reached 12.1 percent, an increase of 520 basis points compared to the same period of the previous year. On an annual basis, the company's net profit margin increased by 350 basis points to 11.1%. Thus, Tofaş's net profit for 2021 reached 3 billion 281 million. The company's net sales revenues increased by 26 percent on an annual basis in 2021 to 29 billion 684 million TL. The company said in a statement regarding its revenues that "the balanced growth in export and domestic market revenues played a role in this success." Having achieved EBITDA of 3 billion 26 million TL in 2020, the company increased this figure by 91.5 percent to 5 billion 794 million TL in 2021. Thus, the company's EBITDA margin increased by 6.7 points year on year to 19.5 percent. In 2021, the gross profit margin increased by 600 basis points annually to 19.6 percent. Strong domestic market performance due to cost controls and protective export contracts due to weakening TL played a key role in this performance. When the total sales volumes of Tofaş are analyzed on a unit basis; With 112 thousand exports and 122 thousand domestic sales in 2021, it reduced its total sales by 10 percent compared to the previous year. The Fiat brand managed to maintain its leadership in the domestic light vehicle market for the third consecutive year with a market share of 16.4% in 2021. In the breakdown of exports, Italy is the largest shareholder, with 34 percent, while Germany ranks second with 18.7 percent. The company shared expectations for 2022, saying the domestic light vehicle market (PC+LCV) is estimated at 700–750 thousand units. While the company expects sales in the range of 125-140 thousand units in the domestic market, it is targeting the same figures on the export front. On the production side, Tofaş estimates 240–270 thousand units, while it foresees an investment of 100 million euros in 2022, parallel to 2021.

Stellantis shared its electrification strategy for 2021

In the documents regarding the results, the company also emphasized Stellantis' electrification strategy for 2021, among the highlights. Stating that Stellantis shared its electrification and software strategy in 2021, Tofaş emphasized that with its cost advantage, production infrastructure, and R&D operation, the company stands out as a center that can serve different brands under the umbrella of Stellantis in the field of both production and R&D in the coming period.