ASELSAN's financial results for 2023 have been announced. Accordingly, ASELSAN's annual turnover grew by 10 percent compared to the same period of the previous year and reached 73.6 billion TL.
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% compared to the same period of the previous year and reached 16 billion TL. With an EBITDA margin of 22%, ASELSAN's net profit reached 7.4 billion TL. The ratio of the company's equity to assets was 59%.
ASELSAN General Manager Ahmet Akyol evaluated the company's year-end financial results as follows:
"We have left our mark on 2023, the symbol of the Turkish Century. As ASELSAN, we have become one of the institutions that completed 2023 in the most successful way. We have brought many new and critical technologies to our country and our army.
CENK, AKREP and ALPER Radars, YENER Mine Detection System, ASELFLIR-400 Camera, Gözde Guidance Kit, Gökdeniz Air Defense System, ODAKAN camera family are just some of the products that entered the inventory for the first time in 2023. We have reached the final stage of many products that we think will play a game-changing role. 2023 has been a year in which we have made significant progress and achieved success in our products such as the world's best camera ASELFLIR-500, our country's first long-range air defense system SİPER, our first over-the-horizon sonar DÜFAS, our first AESA aircraft nose radar, our guided ammunition TOLUN, and our autonomous underwater vehicle DERİNGÖZ. We have successfully completed the testing phases of many of these products, and we have moved to the mass production stage in some of them.
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 balance orders reached USD 11 Billion, which is a historical record level at the end of 2023.
2023 was a year in which ASELSAN also achieved significant success in exports. We exported to four countries for the first time. We exported more than 20 products for the first time. Especially on the other side of the world, with the tank modernization tender we won in Chile, we proved ASELSAN's competence in this field. In 2023, we achieved a historic success by signing a new export contract worth 601 million dollars.
We have equipped many platforms, which are a source of pride for Türkiye and exported abroad, with ASELSAN technologies. With these technologies, we add strength to the power of our brand platforms such as ATAK, Hürkuş, Bayraktar TB2, Anka, MİLGEM, Ejder Yalçın, Kirpi.
In 2023, we rose to 47th place among the world's largest defense industry companies. We took the lead among the companies with the highest R&D expenditures in Türkiye. The fact that the number of our employees exceeded 10,500, most of whom are engineers, in 2023 was 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, the Guidance Kit Integration and Production Facility, and the Electronic Warfare Production and Integration Facility became operational. We have also initiated four more important and major investments in the fields of FLIR camera systems, air defense systems, microelectronics and AESA radar.
Our achievements motivate us to do more in the Turkish Century. We have managed to serve our country for nearly half a century with technologies that inspire confidence. 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 of our National Technology Move. In 2024, we will make the best products in their field, offer firsts to the world and continue our export-oriented growth strategy."
