Karsan jumps as EV mix drives profit turnaround

Karsan Otomotiv Sanayii ve Ticaret AS

12/05/2026 10:36

** Shares in Turkey's Karsan Otomotiv KARSN.IS rise 10% to their highest in 1-1/2 years after the light commercial vehicle maker swings to profit in the first quarter

** The company reported a net profit of 65.5 million lira, compared with a loss of 376.2 million lira a year earlier

** Brokerage Philip Capital says the turnaround was driven by margin expansion and an improving electric vehicle mix

** Despite a 7.5% decline in production, the brokerage notes that high-margin EV output surged 225%, with Karsan-branded EV sales rising nearly fivefold, pointing to a stronger product mix and profitability outlook

** Shares are on track for their biggest daily rise since late August 2025. The stock is up more than 50% year-to-date

 (Reporting by Canan Sevgili)

 ((canan.sevgili@thomsonreuters.com))