Otokar secures 1.47 billion dollar armored vehicle export contract

Otokar has announced a major export contract valued at 1.47 billion dollars, which includes the supply of wheeled armored vehicles and integrated logistics support services. The contract is expected to remain valid for seven years, with production and deliveries scheduled to begin next year and be completed within three years.

The value of this contract is approximately 72.5 billion Turkish Lira, representing roughly 118 percent of the company's projected 2025 annual sales revenue. This agreement is expected to provide long-term foreign currency inflows and stabilize cash flow, potentially offsetting recent weaknesses in the company's financial statements.

Separately, Park Elektrik has updated the sale price of its Ciner Enerji shares sold to Park Holding, with the new amount set at 439.2 million Turkish Lira.