Aselsan’s Growth Story Continues

Our Bureau - : Oct 16, 2024 - : 10:49 pm

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Türkiye’s Aselsan reported a third quarter revenue of 60.7 billion TL (over USD1.7 billion). The company recorded a steady growth in the first nine months of the year, with 14 per cent annual growth.

Aselsan reported 14.4 billion TL EBITDA with 24 per cent EBITDA margin. The new contracts signed reached USD 3.2 billion bringing the company’s total backlog to USD12.6 billion.

Total value of export contracts signed in the first nine months grew by 52 per cent compared to the same period of 2023.

Aselsan’s President & CEO Ahmet Akyol evaluated the nine-month financial results:
“Our financial results clearly show our steady growth. To enhance and ensure the sustainability of this growth, we set export as the key item on our agenda. The third quarter was particularlynoteworthy for our export performance as we signed export contracts of ASELFLIR-500, the world's best UAV camera, and our TOLUN guided munition to Azerbaijan. We have also signed contracts with our customers in the Asia-Pacific region to supply payloads including remote-controlled stabilized weapon system, radar, inertial navigation, identification friend or foe systems and electronic warfare suite.

We have recently conducted several successful firing tests. BAYKAR’S AKINCI hit the target with full accuracy in the firing test conducted with our Guided Munition TOLUN IIR with infrared seeker. ASELFLIR-500 was used in the successful first firing test of ANKA-III TUSAŞ. The firing test of our Long-Range Air Defense System SİPER Product-2 System also made us proud. We also completed the first long range firing of the Air Defense Missile System HİSAR-O.

We introduced ASELSAN ZMA-X which we have modernized by equipping it with indigenous sensors at TEKNOFEST Adana. “Additionally, our Unmanned Ground Vehicle ASLAN became the first vehicle weighing over 500 kilograms to enter the inventory. We have added new capabilities to the MARLIN family, which is the first Unmanned Surface Vehicle to enter the inventory of our Naval Forces. We have successfully conducted the ballistic firing test of the KUZGUN Cruise Missile from MARLIN,” he said.

“As we approach our 50th anniversary, we have set a vision for the future, which we call AselsaneXt 2030, with a primary focus on 2030 and beyond. We are determined to place ASELSAN among the 30 largest defense companies in the world until 2030 by producing the best-in class products, developing game-changing technologies and by expanding our global reach,” Akyol said.

Aselsan /

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