Record-high backlog in the first quarter of 2024 for ASELSAN

ASELSAN reported a record-high backlog of 11.1 Billion USD in the first quarter of 2024, breaking a historical record. Net sales were also up reaching 15.1 Billion TL, a 5% increase compared to the first quarter of 2023.

ASELSAN is one of Türkiye’s leading defence companies, and their financial and operational results for the first quarter of this year also showed gross profit increased to 4.4 Billion TL with 3% growth compared to the same period last year. EBITDA rose by 3%, reaching 3.4 Billion TL, with an EBITDA margin of 22%. ASELSAN’s equity to assets ratio remained strong at 63%. ASELSAN CEO Ahmet Akyol said of the financial results of the first quarter of 2024: “We made a strong start to 2024 in line with our export-oriented growth strategy. 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.”

Ahmet Akyol outlined that within the scope of the Project of Adding Additional Capabilities to Tanks, ASELSAN equipped M60T tanks with ASELSAN’s advanced technology. He also remarked that Türkiye’s first national combat aircraft KAAN, powered by ASELSAN’s superior avionics systems, made its first flight. ASELSAN also introduced the Low Frequency Active Sonar System (DÜFAS), which according to the company is Türkiye’s first national anti-submarine warfare sonar, to the navy.

The company successfully completed the first diving tests of the Autonomous Underwater Vehicle DERİNGÖZ, which it maintains will contribute to Türkiye’s dominance in the seas. They also added MARLİN Unmanned Marine Vehicle and YENER Mine Detection System to their inventory and integrated their MURAD Aircraft Nose Radar into the F-16 platform and started test flights. They signed the first export contract for our TOLUN Guided Munition.

In addition, Ahmet Akyol reavealed that ASELSAN had made the first export of the ASELFLIR-500 EO Reconnaissance, Surveillance and Targeting System, providing “higher performance than its equivalents” according to the company.

Ahmet Akyol described ASELSAN’s three main visions that span across all of their products: to produce the world’s best products in their fields, to develop game-changing technologies, and to grow with an expert focus. Today, ASELSAN has over 500 products used around the world, and they are looking to develop their synergy and strategic collaborations in the future.

With roadmaps created until 2030 for the company’s products and technologies, ASELSAN’s primary goal according to Ahmet Akyol is to become” one of the top 30 defence industry companies in the world.” He says that they will achieve this with their “state-of-the-art technology, highest quality and efficient production, and exponential export growth.”

ASELSAN will be exhibiting at Milipol Qatar from 29 to 31 October 2024 at the Doha Exhibition and Convention Center (DECC).

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Image credit: Harun Yogurtcu for Unsplash

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