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ASELSAN ELEKTRONIK SANAYI VE TICARET ANONIM SIRKETI

(ASELS)
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Aselsan Elektronik Sanayi ve Ticaret Anonim Sirketi : 2020 ASELSAN Annual Report

07/14/2021 EDT

Annual Report 2020

Turkey's

Technology Base

The success achieved by our defense industry with the vision of our state's national technology move draws attention all over the world. As ASELSAN, the pioneer of our country in our line of business, we operate with great responsibility.

We develop projects that add value to the life not only in the field of defense, but also in different fields. We have made ASELSAN the technology center of Turkey with thousands of employees, suppliers and all our stakeholders.

There are so many things here that carry us to higher levels, apart from technology!

Contents

ASELSAN AT A GLANCE

IN 2020

FINANCIAL INFORMATION

12

Vision-Mission

38

Highlights of 2020

150

Consolidated Statement

13

Our Cultural Manifesto

54

Human Resources

153

of Financial Position

14

and Values

62

Management at ASELSAN

Consolidated Statement

ASELSAN Shareholding

Technology and Strategy

154

of Profit or Loss

Structure and Financial

68

Management

Consolidated Other

16

Position

ASELSAN Academy

Comprehensive Income

Local Affiliates

70

ASELSAN Research

155

Statement

18

Global Affiliates

74

Center

Consolidated Statement

20

Facilities

Business Development

156

of Changes in Equity

22

Organizational Structure

and Marketing Activities

Consolidated Statement

24

Main Financial Indicators

of Cash Flow

26

ASELSAN Human

FIELDS OF ACTIVITY

26

Resources

76

Communications and

R&D Activities

92

Information Technologies

27

Collaboration with

Defense System

27

Universities

112

Technologies

Domestic Suppliers

Microelectronics,

Guidance and Electro-

MANAGEMENT

Optics

28

Message from President,

124

Radar and Electronic

Chairman and CEO

Warfare Systems

32

Members of the Board of

134

Transportation, Security,

Directors

Energy, Automation and

34

Corporate Governance

Healthcare Systems

36 Members of the Executive Board

ASELSAN stocks are traded on Borsa Istanbul with the ASELS symbol.

Please scan the QR code to access the PDF version of our annual report.

About ASELSAN

Today, ASELSAN has become a brand that exports its original products, takes place in the list of the world's top 100 defense industry companies, establishes partnerships in international markets and makes investments by establishing cooperation models with local organizations.

Shareholders' Equity

TRY 18.1 Billion

EBITDA

TRY 3.9 Billion

ASELSAN, which was founded in

1975 to meet the communication needs of the Turkish Armed Forces by national means, is a joint-stock company affiliated to the Turkish Armed Forces Foundation (TAFF). 74.20%

of ASELSAN shares are owned by TAFF, and 25.80% is traded on Borsa Istanbul (BIST).

Today, ASELSAN has become a brand that exports its original products, takes place in the list of the world's top 100 defense industry companies (Defense News Top 100), establishes partnerships in international markets and makes investments by establishing cooperation models with local organizations.

Net Profit for the Period

TRY 4.5 Billion

ASELSAN, the largest defense electronics company in Turkey, has a wide range of products that can meet the communication and information technologies, radars and electronic warfare, electro-optics, avionics, unmanned systems, land, naval and weapon systems, air defense and missile systems, command and control systems, transportation, security, traffic, automation and health technology needs of domestic and international authorities, especially Turkish Armed Forces.

ASELSAN, together with the emphasis on technology in its vision, has adopted the goal of being "a national technology company that maintains its sustainable growth through the values it created in the global market, is preferred with its competitive power, is trusted as a strategic partner, and caring for the environment and people."

One of the key factors of this success is its more than 8,000 employees, including qualified engineering staff. ASELSAN allocates an average of 7% of its annual return to R&D activities it funded by its shareholders' equity.

There is growth here

Despite all the negativities and uncertainties caused by the Covid-19 pandemic on a global scale, as ASELSAN, we became one of the companies, the market value of which was least affected in this process, ranked within the first 4 among the publicly traded companies in the Defense News Top 100 companies.* In 2020, we achieved our goals in terms of revenue, growth and profitability.

Total Turnover

TRY 16.1 Billion

* It covers the period of February-May 2020, when the pandemic is most intense.

Disclaimer

Aselsan Elektronik Sanayi ve Ticaret AS published this content on 14 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2021 13:43:08 UTC.


© Publicnow 2021
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Financials
Sales 2021 22 467 M 2 636 M 2 636 M
Net income 2021 5 945 M 697 M 697 M
Net Debt 2021 424 M 49,7 M 49,7 M
P/E ratio 2021 5,18x
Yield 2021 1,36%
Capitalization 33 653 M 3 986 M 3 948 M
EV / Sales 2021 1,52x
EV / Sales 2022 1,23x
Nbr of Employees 9 644
Free-Float 25,8%
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Number of Analysts 9
Last Close Price 14,76 TRY
Average target price 19,52 TRY
Spread / Average Target 32,2%
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Managers and Directors
Haluk Görgün Chairman, President & Chief Executive Officer
Mehmet Fatih Gueclue Chief Financial Officer & Vice President
Mehmet Feyzi Celik Vice President-Technology & Strategy
Sezai Elagoez Vice President-Research & Development
Bayram Gençcan VP-Communication & Information Technologies