ASELSAN’s inflation-accounted financial results for 2023 were announced. Accordingly, ASELSAN’s annual turnover grew by 10% compared to the same period last year, reaching TL 73.6 billion (approx. $2,5 billion.
While the company’s gross profit increased by 13% compared to the same period of the previous year, Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) increased by 14% to TL 16 billion. With an EBITDA margin of 22%, ASELSAN’s net profit reached TL 7.4 billion (approx. $250 million). The ratio of the company’s equity to assets was realized as 59%.
Ahmet Akyol, General Manager of ASELSAN, evaluated the company’s year-end financial results as follows:
“We have left our mark on 2023, which is the symbol of the Turkish Century. As ASELSAN, we have been one of the organizations that completed 2023 in the most successful way. We brought many new and critical technologies to our country and our army.
The CENK, AKREP and ALPER Radars, the YENER Mine Detection System, the ASELFLIR-400 Camera, the Gözde Guidance Kit, the Gökdeniz Air Defense System, and the ODAKAN camera family are just some of the products that will enter inventory for the first time in 2023. ASELFLIR-500, the world’s best camera; SİPER, Turkey’s first long-range air defence system; DÜFAS, our first over-the-horizon sonar; TOLUN, our first AESA aircraft nose radar and guided munition; and DERİNGÖZ, our autonomous underwater vehicle. In many of these products, we have successfully completed the test phases, and in some of them, we have entered the mass production phase.
As ASELSAN, we continue to work with all our strength for our country, to produce technology and to strive to go further. With the USD 5 billion order we received in 2023, our Company’s outstanding orders at the end of 2023 reached a historical record level of USD 11 billion.
2023 was also a year in which ASELSAN realized significant achievements in exports. We exported to four countries for the first time. We exported more than 20 products for the first time. Especially with the tank modernization tender we won in Chile, on the other side of the world, we proved ASELSAN’s competence in this field. In 2023, we achieved a historic success by signing a new export contract worth USD 601 million.
We have equipped many platforms, which are the source of pride for Turkey and are also exported abroad, with ASELSAN technologies. With these technologies, we are strengthening the power of our brand platforms such as ATAK, Hürkuş, Bayraktar TB2, Anka, MİLGEM, Ejder Yalçın and Kirpi. By 2023, we have risen to 47th place among the world’s largest defense industry companies, and we have taken the lead among Turkey’s companies with the highest R&D expenditures.
In 2023, the number of our employees, the majority of whom are engineers, will exceed 10,500, which is another development that shows the level ASELSAN has reached.
ASELSAN is constantly increasing its investments to develop and produce high technology. Last year, the Advanced Materials Facility, Guidance Kit Integration and Production Facility and Electronic Warfare Production and Integration Facility became operational. We have also initiated four more important and major investments in FLIR camera systems, air defense systems, microelectronics and AESA radar.
Our achievements motivate us to do more in the Turkish Century. With the technologies we will develop, we will continue to be one of the most important actors of the Turkish Century and one of the most valuable stakeholders in our National Technology Movement. In 2024, we will make the best products in our field, present the firsts to the world and continue our export-oriented growth strategy.
