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Ford Otosan

Established in 1959, today Ford Otosan is Ford’s largest commercial vehicle production center in Europe and Turkey’s largest exporter. The Company has an annual production capacity of 455 thousand commercial vehicles, 75 thousand engines and 140 thousand power trains.

Ford Otosan has operations in three main centers: Kocaeli (Gölcük and Yeniköy plants), Eskişehir (İnönü plant) and Istanbul (Sancaktepe R&D center and spare part warehouse). It has the largest workforce in the Turkish automotive sector with 10,598 employees and more than 1,100 R&D engineers. The Company is a global engineering hub for Ford’s heavy commercial vehicles and related diesel engines and engine systems as well as a global support center for design and engineering of light commercial vehicles.

Ford Otosan is a constant leader in the Turkish commercial vehicle market and Turkey’s export champion.
In 2018, Ford Otosan reinforced its leadership position with a 30.8% market share in commercial vehicles on the back of its sustainable and profitable growth and Ford Transit was the best-selling light commercial vehicle model in Turkey. Market share in passenger cars was realized at 4.9%, in line with its profit-oriented strategy. Thanks to new product launches during the year, the Ford brand rose from 4th place to 3rd in the market.

In 2018, the Ford brand maintained its number one position in the European commercial vehicle market and reached a market share of 14.1%. Ford Otosan plays an important role in Ford’s success by producing 83% of the Transit family vehicles sold in Europe. The Company exported 329 thousand vehicles in 2018, marking 11% annual increase. Ford Otosan carried out 74% of Turkey’s total commercial vehicles exports in 2018, continued its position as Turkey’s export champion for the fourth consecutive year.

Ford Otosan completed its capacity increase investments in 2018.
Having started in 2017, Ford Otosan completed its capacity expansion in 2018, reaching a total production capacity of 330 thousand units at its Gölcük Plant and 455 thousand units in total.

Total production was realized in line with the previous year at 373 thousand units due to impact of the contracting domestic market, implying a capacity utilization rate of 84%.

Ford Otosan is one of the most sustainable dividend payers in Borsa Istanbul.
With rise in free cash flow following completion of the investment period, priority is given to increase dividend distribution. In 2018, TL 1,204 million of dividend were distributed, marking a rise of 52% from the previous year.

Ford Otosan is the 14th most valuable company in Borsa Istanbul (BIST) with a market value of USD 3.3 billion. In 2018, the shares outperformed the BIST 100 index by 11%.

F-Max won “International Truck of the Year” award
In the trucks segment, the Company reached a network of 35 countries with international restructuring process under the Ford Trucks brand. Truck export volume increased by 39%. The F-Max, which was unveiled in 2018, received the “2019 - ITOY International Truck of the Year” award.

Support for in-house entrepreneurs bears its first fruit, with Rezervis project being commercialized.
Rezervis became the first commercialized project designed by in-house entrepreneurs within the context of Ford Otosan’s innovation program. The Company became a 25% shareholder in Rezervis Mobil Teknoloji A.Ş., which was established to transform transportation vehicles into a shared transport service by innovating, optimizing and extending the usage of an algorithmic-based application.

Forward-looking expectations
The Turkish automotive market is expected to contract further in 2019 due to higher costs on the back of exchange rates, interest rates and inflation, loan supply and the general economic conjuncture. In terms of exports, Ford Otosan is expected to exhibit a similar performance to 2018 thanks to the Ford brand’s solid market position in Europe. Cost optimization efforts are expected to have a positive impact on profitability.

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