Tofas Türk Otomobil Fabrikasi Anonim Sirketi (TOASO) Earnings Call Transcripts

Tofas Türk Otomobil Fabrikasi Anonim Sirketi's Latest Earnings Call - Q1 FY2026

In Q1 2026, Tofas Türk Otomobil Fabrikasi reported a significant turnaround with revenues increasing by 200% year-over-year, driven by a 38% growth in production and a remarkable 155% increase in export volumes. The company achieved a profit before tax (PBT) margin of 3.5%, an improvement of 360 basis points compared to the same period last year. Management raised their production and export volume guidance for 2026 by approximately 10% and 8%, respectively, indicating strong operational momentum despite a cautious outlook for the domestic market due to geopolitical tensions. The company maintained its capital expenditure guidance at EUR 250 million for the year.

Reported metrics

Guidance from management

Management raised their production and export volume guidance for 2026 by approximately 10% and 8%, respectively, while maintaining the CapEx guidance at EUR 250 million.

What management said

Q1 is a seasonally low quarter, and it's good to have 3.5% margin on PBT terms. So it's a good start, obviously, and we expect to continue it. But for the whole year, we still stick with our guidance on that one. And one worthy note, especially in this quarter, as you know, the inflation rate is also 10%, which we also expect to slow down, not maybe in this month, but in the coming months as well. So we may see also ...

Thank you very much for the question. As I mentioned to you, we are working on the new projects. If you take a look at the last decade, the top 3 selling cars are always local produced cars in Turkey. And as the decent market leader in Turkey, it is actually inevitable for us as well to produce a PC car in Turkey as well. So we are working on that one. No problem at all, but we will announce it when we will finalize ...

What analysts pressed on

Analysts expressed concerns regarding the revised domestic market guidance, particularly the impact of geopolitical tensions on demand. Questions were raised about potential downside risks if current conditions persist, and the need for clarity on production ramp-up and capacity utilization.

Main topics on the call

• Revenue Growth — Tofas reported a 200% increase in revenues, reaching TRY 2.6 billion in Q1 2026, attributed to a significant rise in production and exports. Management stated, "This revenue growth translated into similar EBITDA growth a...
• Profitability Improvement — The company achieved a PBT margin of 3.5%, up from a negative figure in Q1 2025, indicating strong operational efficiency. Management highlighted, "Our main KPI, PBT margin improved by 360 basis points to 3.5%."
• Export Volume Surge — Export volumes surged by 155% year-over-year, reaching nearly 17,000 units, driven by the new variants of the KO model. Management noted, "Our export volumes recovered by more than 150% in the first quarter."
• Market Share Gains — Tofas increased its local light vehicle market share by 130 basis points to approximately 27% and its light commercial vehicle market share to 48.7%. Management stated, "Our market share increased by around 130 basis poi...

Read the full Tofas Türk Otomobil Fabrikasi Anonim Sirketi transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 21 Tofas Türk Otomobil Fabrikasi Anonim Sirketi earnings call transcripts on record, spanning October 27, 2020 to July 30, 2026. Based on this history, Tofas Türk Otomobil Fabrikasi Anonim Sirketi reports quarterly. The most recent call on file is dated July 30, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

TOASO

Exchange

IBSE

Country

TR

Sector

Consumer Discretionary

Industry

Automobiles

Calls on record

21

First call

October 27, 2020

Most recent

July 30, 2026

Reporting cadence

quarterly