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Aselsan posted $1.05 billion in turnover in 9 months

Aselsan posted $1.05 billion in turnover in 9 months

Turkish defense giant Aselsan posted TL 10.3 billion ($1.05 billion) in turnover in the first nine months of 2021, 22% higher than the same period of last year.

The company also posted record profit at TL3.1 billion, an internal report revealed Wednesday.

While Aselsan’s gross profit increased by 52% compared to the same period of the previous year; earnings before interest, tax, depreciation and amortization (EBITDA) increased by 36% year-on-year, reaching TL 2.5 billion. The EBITDA margin was 24%.

The company’s equity to assets ratio was announced as 59%. The total balance orders rose to $9.3 billion.

Haluk Görgün, Aselsan chairperson of the board and general manager, whose views were included in the company statement said that the company has continued to produce value for the future of the country with its all stakeholders.

“Our work continued uninterruptedly, believing that the independence in defense technologies will further increase with a sustainable growth. Our company continued its stable and profitable growth. When the first nine months of this year are compared with the same period of the previous year, the positive trend, which is visible in almost all of our financial indicators, is expected to get stronger by the end of the year,” he said.