Turkish defense giant ASELSAN records Q1 profits of $147M, revenue surges by 34%

Being the home for many Technologies indigenous to Turkey, ASELSAN made a net profit of 1.2 billion TL ($147 million) in the first quarter of 2021 marking an increase of 34% compared to the same period of the Previous year.

ASELSAN’s 3-month turnover in 2021 grew by 22 percent compared to the same period of the previous year, reaching 3.2 billion TL, while the company's gross profit increased by 24% compared to the first quarter of last year. The company also received backorders worth 9 billion dollars.

"We are the address for national and domestic technologies"

Evaluating the financial results of ASELSAN for the first quarter of 2021, the CEO of Aselsan Prof. Dr. Haluk GÖRGÜN said the following:

"We experienced a significant acceleration in our growth and profitability indicators in the first quarter of 2021. The company enjoyed stable growth and high profitability in this period despite the global economic contraction during the novel coronavirus pandemic."

He also underlined that attempted direct and indirect embargoes on Turkey have "once again revealed the importance of self-sufficiency in defense."

In his statement, Gorgun added that the introduction of the CATS Electro-Optical Reconnaissance, Surveillance and Targeting System developed and produced by the company was the most recent example of "the struggle for independence" in defense industry "that we have been continuing for more than 45 years."

"ASELSAN continues to grow in the field of medical devices"

Touching on ASELSAN's activities in non-defense areas, Prof. Dr. Haluk GÖRGÜN continued as follows:

"In the first quarter of 2021, ASELSAN exported an Automatic External Defibrillator device, that performs critical intervention in sudden cardiac arrest, to France and Italy."

"We focus on financial technologies"

GÖRGÜN also said ASELSAN was structured to follow developments in financial technologies and evaluate business development opportunities in this field, taking into account the rapid changes in the financial sector. Adding "With our strong financial structure and experience, we aim to be an important technology provider in the field of financial technologies."

Source: AA

Turkish defense giant ASELSAN records Q1 profits of $147M, revenue surges by 34%

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