2023 3rd Quarter
Earnings Release
October 31, 2023
NEW ORDER RECORD FROM ASELSAN
ASELSAN entered Türkiye's Century fast
Türkiye's flag-bearer ASELSAN announced its financial results for the first nine months of 2023. ASELSAN's turnover grew by 81 percent compared to the same period last year, reaching TL 32.1 billion.
According to the statement made by ASELSAN to the Public Disclosure Platform (KAP) regarding the nine-month financial results, the company's gross profit increased by 75 percent, while Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) increased by 74 percent. ASELSAN's net profit increased by 72 percent to TL 9.8 billion.
Largest order amount in history
Ahmet AKYOL, CEO of ASELSAN, pointed out that in the 100th anniversary of the Republic, the company brought firsts to the Turkish nation and said: "As ASELSAN, we have been the flag-bearer of our country in the defense industry in the first century of our Republic. In the first nine months of 2023, we continued our profitable growth and reached the largest backlog in our history, totaling USD 10.8 billion. We entered Türkiye's Century with confident steps with the new agreements we signed with our stakeholders, especially with friendly and brotherly countries.
We presented our national systems
In the first nine months of 2023, we showcased for the first time some of our national systems that will provide our security forces with new capabilities in the field. We developed Türkiye's first autonomous underwater vehicle DERİNGÖZ for our Blue Homeland. The ALBATROS Kamikaze Unmanned Surface Vehicle swarm, which we developed with our national engineering power, opened a new era in today's unmanned systems by neutralizing the target ship during the tests conducted in Mersin.
In the first nine months that we put our signature with our advanced technology, we have achieved important milestones in the GÜRZ Hybrid Air Defense System, GÖKSUR Air Defense Missile System, GÖKDEMİR Missile Launch System and GÖKBERK Mobile Laser Weapon System, which will add strength to the defense of the homeland. These systems eliminate our dependence on foreign countries and offer far superior performance than equivalent systems. With our new electronic warfare and unmanned systems consisting of EJDERHA, ERTUNGA, SÖKMEN and TUNGA, we aim to eliminate potential threats in the future war environment.
In the first nine months, which were very productive for ASELSAN, we brought the GÖZDE guidance kit, SADAK national release system, KARAKURT Reconnaissance and Targeting Systems, YARASA HF Electronic Support System and AYI HF Electronic Attack System to our country. We shield ourselves against the diversifying threats of today's battlefield with ASELSAN technologies.
Our investments are increasing
At ASELSAN, we continue to make significant investments to develop and produce all these technologies. We recently commissioned our new Avionics Production Facility. We completed our AESA Radar Integration and Production Building. We have also initiated strategic investments in air defense, radar, electronic warfare and microelectronic systems. All these investments are a clear expression of ASELSAN's confidence in the future.
ASELSAN's goals for Türkiye's Century
As ASELSAN, we have largely achieved our goal of developing indigenous and national systems in the first century of our republic. In the second century of our Republic, we set ourselves three main goals: first, to make the best products in our field, second, to produce the firsts in the world, and third, to grow with an export orientation in higher technology. We will expand to new routes with the value we create in the global market. We will contribute to the security of friendly and allied countries by using various cooperation models. We will continue to present our independent, national, advanced technologies to the new century of our republic with greater determination."
2023 3rd Quarter Financial Highlights
(Million TL)
Balance Sheet Items | Sep.'23 | Dec.'22 | %∆ |
Current Assets | 50.239 | 38.299 | 31 |
Non-Current Assets | 49.113 | 37.744 | 30 |
Total Assets | 99.352 | 76.043 | 31 |
(Million TL)
Balance Sheet Items | Sep.'23 | Dec.'22 | %∆ |
Liabilities | 50.042 | 36.182 | 38 |
Equity | 49.310 | 39.861 | 24 |
Liabilities & Equity | 99.352 | 76.043 | 31 |
Income Statement Items | Sep.'23 | Sep.'22 | %∆ |
Revenue | 32.067 | 17.728 | 81 |
Gross Profit | 9.509 | 5.442 | 75 |
Gross Profit Margin | 29,7% | 31,0% | - |
Operating Profit (EBIT) | 6.471 | 3.692 | 75 |
Operating Profit Margin (EBIT) | 20,2% | 21,0% | - |
EBITDA | 7.153 | 4.107 | 74 |
EBITDA Margin | 22,3% | 23,0% | - |
Net Profit | 9.850 | 5.735 | 72 |
Net Profit Margin | 30,7% | 32,0% | - |
- Revenues are 32.067 million TL and increased by 81% compared to the same period of the previous year.
- The newly signed contracts reached 4 billion USD and the backlog is 10.8 billion USD.
- Total assets increased by 31% compared to the year-end and reached 99.352 million TL.
- EBITDA is 7.153 million TL and increased by 74% compared to the same period of the previous year.
- Gross profit margin was realized as 30%.
- Return on Assets (ROA) is 20,3% (December 2022: 19%).
2023 Guidance | ||
2023 Guidance | ||
Increase in Revenues (TL) | >%65 | |
EBITDA Margin | >%24 | |
CAPEX | 10 billion TL | |
ASELSAN financial reports can be accessed through the link:
https://www.aselsan.com/en/investor-relations/financial-reports
ASELSAN investor presentations can be accessed through the link:
https://www.aselsan.com./en/investor-relations/investor-presentations
CONTACT
Address
ASELSAN Elektronik Sanayi ve Ticaret A.Ş. Mehmet Akif Ersoy Mah. İstiklal Marşı No:16 06200 Yenimahalle, Ankara
Phone: +90 850 828 1 828
E-Mail aselsan.ir@aselsan.com.tr
FORWARD LOOKING STATEMENTS
These materials contain statements about future events and expectations that are forward-looking statements. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Except to the extent required by law, we assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.
This release does not constitute an offer or invitation to sell, or any solicitation of any offer to subscribe for or purchase any securities and nothing contained herein shall form the basis of any contract or commitment whatsoever. No reliance may be placed for any purposes whatsoever on the information contained in this release or on its completeness, accuracy or fairness. None of the Company nor any of its shareholders, directors, officers or employees nor any other person accepts any liability whatsoever for any loss howsoever arising from any use of this release or its contents or otherwise arising in connection therewith.
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Aselsan Elektronik Sanayi ve Ticaret AS published this content on 31 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 October 2023 18:16:44 UTC.