Turkey’s leading defense industry company, ASELSAN, achieved a record-breaking order backlog of $11.1 billion in the first quarter of 2024. This milestone was accompanied by a 5% year-on-year growth, resulting in a turnover of 15.1 billion TL.
The financial results for the first quarter of 2024 showed a 3% increase in gross profit compared to the same period last year. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) rose by 3% to reach 3.4 billion TL, with an EBITDA margin of 22%. Net profit stood at 1.2 billion TL, while the equity-to-assets ratio was recorded at 63%.
ASELSAN’s General Manager, Ahmet Akyol, highlighted the company’s rapid start aligned with its export-focused growth strategy. He emphasized ASELSAN’s significant contributions to the national defense ecosystem and economy, underscoring the record-breaking order backlog as a testament to their commitment to Turkey’s technological independence.
Akyol also discussed key projects and achievements, including enhancing tank capabilities, developing the KAAN system, and introducing the DÜFAS system to the navy. He outlined three primary goals for ASELSAN: producing the world’s best products in their field, developing game-changing technologies, and focusing on export-oriented growth.
In addition to its defense-related endeavors, ASELSAN has made significant strides in the civilian sector, providing game-changing systems for the country. Akyol emphasized the company’s reliability with over 500 products used domestically and internationally, reinforcing ASELSAN’s status as a global entity.
Looking ahead, ASELSAN has mapped out strategic plans up to 2030, aiming to increase its mass production capacity through significant investments. Akyol reiterated ASELSAN’s ambition to become one of the top 30 defense companies globally, driven by technological excellence, high-quality production, and strong export potential.
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