Murat Yalçintas, General Manager of the Turkish Armed Forces Assistance Fund (OYAK), met with economy journalists at a press conference in Istanbul yesterday.
Yalçintas provided assessments of OYAK’s operations, financial performance and strategies for the coming period, saying that the group continues to grow through a long-term investment approach at a time when uncertainties in the global economy, trade tensions and geopolitical risks persist.
Yalçintas said one of OYAK’s most important strategic moves in 2026 was its investment in Tekfen Holding, recalling that a 42.8% stake in Tekfen Holding was transferred to ON Investment B.V., in which OYAK holds a majority of the capital. Yalçintas stressed that the investment was not merely a growth step that added new areas of activity to the portfolio. He said Tekfen’s international experience in engineering, procurement and construction would contribute to the areas in which OYAK aims to expand in the future.
“The Tekfen Holding investment is a strategic step that complements our existing industrial ecosystem, provides OYAK with new capabilities and supports the portfolio transformation we are carrying out in line with our 2030 Vision. With the Tekfen investment, we are strengthening this vision and supporting our growth with new capabilities. This investment will create strategic value beyond scale,” Yalçintas said.
Asked about reports that executives from Saudi Arabia-based energy company Saudi Aramco had visited Trkiye and inspected GzelEnerji facilities, one of OYAK Group’s subsidiaries, in Aliaga, Samsun and Gebze, Yalçintas confirmed, without naming the company, that they were conducting talks on a strategic partnership in the energy sector.
“There is a strategic partnership discussion we are conducting with one of the world’s largest energy giants. We believe that the picture will become clear by the end of this year or the beginning of next year. This is an important building block in OYAK’s multinational structure. Our vision is to transform OYAK into a transnational company,” he said.
Yalçintas said efforts to establish strategic partnerships in the energy sector were continuing, emphasizing that the number of TotalEnergies and Milangaz stations had reached 1,055, while GzelEnerji’s consolidated revenue in the first half of the year amounted to 112.3 billion Turkish liras.
Yalçintas said OYAK operates with 189 companies in 30 countries, including Trkiye, and has a broad range of activities spanning mining and metallurgy, cement, automotive, logistics, energy, chemicals, agriculture, financial services and food.
He said OYAK’s consolidated revenue reached 418 billion Turkish liras in the first half of the year, while its consolidated net profit rose 66% to 83 billion liras. Its consolidated assets also increased by 31% to 1.847 trillion liras, Yalçintas said.
Yalçintas noted that Renault maintained its leadership in Trkiye’s passenger car and light commercial vehicle market, adding that MAIS achieved a 13.9% market share with sales of 100,256 vehicles in the first eight months of the year.
OYAK is also closely monitoring infrastructure investments in Trkiye and abroad, particularly bridges and highways.
“We are following Africa. The future of the world is in Africa. There are natural resources. Africa offers extremely significant opportunities in logistics for the production and transportation of these resources,” OYAK General Manager Murat Yalçintas said.
OYAK plans to take more of its companies public in the coming years. Yalçintas also said that initial public offerings are part of OYAK’s portfolio transformation and growth strategy.