ASELSAN gets $1.3B new orders in Jan-Sept

Turkey’s major defense company ASELSAN received new orders of $1.3 billion in the January-September period this year with a 78% annual climb. 

ASELSAN’s total backorders reached $9.3 billion as of the end of the third quarter – 93% of them were defense and 7% of them were non-defense orders. 

The company reported that its nine-month revenues amounted to 10.3 billion Turkish lira (around $1.27 billion) while its net profit was 3.1 billion Turkish lira (some $385 million).*

In a written statement, ASELSAN’s head Prof. Dr. Haluk Gorgun noted that the company continued its stable and profitable growth. 

“The positive trend, which is visible in almost all of our financial indicators, is expected to get stronger by the end of this year,” said Gorgun. 

“We see nationalization as a matter of survival, not only in defense but in all areas of technology,” he said. “In this context, in the third quarter of this year, we took another step, which can be considered as one of the historical milestones for ASELSAN and entered the field of financial technologies.”

“We believe that our entry into the field of financial technologies will reflect on both the orders that ASELSAN will receive in the coming period and its customer portfolio as a variety,” said Gorgun. 

“ASELSAN will now take place in this arena, which includes various topics from new generation banking technologies to payment register devices,” he said. “The trust of our nation and the effort of more than 9,000 employees are behind our every success.”

“We will work harder to increase this national confidence with new technologies,” he added. 

Established in 1975, Turkey’s leading defense company ASELSAN is an entity of Turkish Armed Forces Foundation. Currently, 74,20% of the shares are owned by the Foundation whereas the remaining 25,8% runs in Borsa Istanbul stock exchange. 

The company’s capability/product portfolio comprises communication and information technologies, radar and electronic warfare, electro-optics, avionics, unmanned systems, land, naval and weapon systems, air defense and missile systems, command and control systems, transportation, security, traffic, automation and medical systems. 

ASELSAN is listed among the top 100 defense companies of the world, according to the “Defense News” platform.


* The nine-month average U.S. dollar/Turkish lira exchange rate was 8.08 this year.


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