Turkish defence major Aselsan’s backlog increased to a record high US$ 11.1 Billion, according to the company’s 2024 first quarter financial report. Net sales grew by 5% compared to the first quarter of 2023, touching 15.1 Billion TL, while gross profit increased to 4.4 Billion TL, up 3% from the same period last year.
The company’s EBITDA rose by 3%, reaching 3.4 Billion TL, with an EBITDA margin of 22%. Aselsan’s equity to assets ratio remained robust at 63%.
“As Aselsan, we made a strong start to 2024 in line with our export-oriented growth strategy,” said CEO Ahmet Akyol. “We made a great contribution to both our national defence ecosystem and our economy in the first quarter. We reached the highest backlog figure in our history. We left behind a productive period in which we have accomplished firsts in terms of Türkiye’s technological independence.
“Within the scope of the Project of Adding Additional Capabilities to Tanks, we equipped our M60T tanks with Aselsan’s advanced technology,” Akyol added. “We witnessed Türkiye’s first national combat aircraft KAAN, powered by our superior avionics systems, making his first flight. We introduced the Low Frequency Active Sonar System (DÜFAS), our country’s first national anti-submarine warfare sonar, to our navy. We have successfully completed the first diving tests of the Autonomous Underwater Vehicle DERİNGÖZ, which will create a huge force multiplier for our dominance in the seas. Recently, we added MARLİN Unmanned Marine Vehicle and YENER Mine Detection System to the inventory. “
The company has integrated its MURAD Aircraft Nose Radar into the F-16 platform and started test flights, Akyol said. “We signed the first export contract for our TOLUN Guided Munition. We made the first export of the ASELFLIR-500 EO Reconnaissance, Surveillance and Targeting System, which provides higher performance than its equivalents, at the beginning of the year. We delivered the Portable Early Warning Radar System (ALP 300-G), which is the longest-range radar of our country. In addition, we have presented game-changing systems to our country in the civilian field as well. In this context, we developed Mobile X-Ray Device (ADR-M100) for our clients.”
Currently, more than 500 products made by the company are used in Türkiye and around the world. The company has a global presence, from Malaysia to Chile, from South Africa to Kazakhstan.
“We have created roadmaps that we will follow until 2030 in our products and technologies.,” Akyol said. “We initiated four major investments exceeding 400 Million USD to increase our mass production capacity and capabilities. Our primary goal is to make Aselsan one of the top 30 defence industry companies in the world. We will achieve this goal with our state-of-the-art technology, highest quality and efficient production, and exponential export growth.”
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