ASELSAN marks its success with rise of its turnover

ASELSAN's turnover in the first half of the year increased by 8 percent compared to the same period of the previous year, reaching 35.7 billion TL, while its net profit increased by 133 percent compared to the same period of the previous year, reaching 3.6 billion TL.

ASELSAN announced its financial results for the first six months of 2024 with inflation accounting applied.

According to the results announced to the Public Disclosure Platform (KAP), the company made a fast start to the year and continued its financial stability during this period, according to the results it announced.

The company's turnover in the first six months of the year increased by 8 percent compared to the same period last year, reaching 35.7 billion TL, while new contracts signed increased by 124 percent compared to the same period last year, reaching 2.6 billion dollars. Thus, ASELSAN's outstanding orders, which were 11 billion dollars at the end of 2023, increased by 11 percent to 12.3 billion dollars.

The company's gross profit increased by 12 percent compared to the same period last year. Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) increased by 9 percent compared to the same period in 2023, reaching 8.7 billion TL. EBITDA margin was 24 percent.

ASELSAN's net profit increased by 133 percent compared to the same period last year, reaching TL 3.6 billion, while its total equity increased by 3 percent compared to the end of 2023. The ratio of the company's equity to its assets also increased again, reaching 61 percent. ASELSAN, which improved its turnover, gross sales profit, EBITDA, net profit, equity, contract size, backlog and many other financial indicators, thus successfully completed the first half of 2024.

"We raise our success bar every day"

ASELSAN General Manager Ahmet Akyol, whose views were included in the company statement, said, "We are raising our success bar every day with our high growth performance embodied in numbers."

Emphasizing that they have achieved many new and important successes in the first six months of 2024 as Turkey's defense industry leader, Akyol noted the following:

"We have embodied with our financial data that we are walking towards the future with confident steps. Our financial results show that we have become a world power in technology with our reliable products and systems. In the first six months of 2024, we continued our rise by developing game-changing technologies, making the best products in our field, and growing with an export focus. In this period, when our R&D expenses were intensive in order to create an infrastructure for mass production and to produce the technologies of the future, we increased our revenue by 8 percent and our net profit by 133 percent. We maintained our strong financial structure in line with our goals of developing game-changing technologies.

During this period, we have achieved significant successes that make us proud. We have left our mark on the biggest projects of the defense industry. We have existed with ASELSAN technologies from the depths of the seas to the depths of space. As a result of our hard work, we have become a global company that has a presence in a very wide geography. We have signed export contracts for the first time for eight of our products such as KORKUT, CENK, FERSAH, ASELFLIR 500, GÖZDE. We have continued our activities to make ASELSAN a global brand. ASELSAN has become a global company.

"With the entry of our AESA aircraft nose radar into the inventory, we will be able to meet all of our country's radar needs."
Akyol reported that they delivered the "Portable Early Warning Radar System ALP 300-G", a very critical project for Turkey's fully independent defense ecosystem, to the security forces in the six-month period, thus becoming a company that can produce radars in every frequency band.

Akyol stated that with the entry of ASELSAN AESA Aircraft Nose Radar into the inventory, they will be able to meet all of Turkey's radar needs, and gave the following information:

"We continued the development work of the GÖKSUR close-in air defense system, which will play a critical role against all kinds of threats in the Blue Homeland. We showcased the 8x8 vehicle-integrated version of the KORKUT air defense weapon system for the first time in Europe. We equipped TÜRKSAT 6A, the symbol of Turkey's independence in space, with ASELSAN's advanced communication technology. With the new type Reis-class submarine TCG P?R?RE?S, we presented many systems, primarily communication system solutions for a submarine platform for the first time. We destroyed the target determined with the extended range firing test of H?SAR O, one of the systems we developed in the Gök Vatan field extending from the lowest to the highest, with a direct hit. We destroyed the target with the ASELSAN TOLUN ammunition fired from Bayraktar AKINCI."

"ASELSAN is one of the 10 fastest growing defense industry companies in the world"

Ahmet Akyol stated that their rise on the list of the world's largest defense industry companies continued this year, and said, "We ranked 47th on the Defense News Top 100 list last year, rising five places this year to 42nd place. As a result of our devoted work, we have become one of the 10 fastest growing defense industry companies in the world."

Akyol stated that they are working day and night to prepare ASELSAN, the pride of the Turkish nation, for the future while carrying out projects that make a splash in the global arena, and that they aim to be among the top 30 companies in the defense industry worldwide in 2030 within the scope of the "aselsanext 2030 vision" they have implemented.

Akyol said, "We make all our plans knowing that we are among the favorite players of the world defense league. In line with this purpose, we want to primarily deepen in technology as we move towards 2030. We will continue to expand our export network and develop technologies that will leave their mark on the world with the offices we have opened in South America, the Balkans and the Gulf region."