September 12, 2024

ASELSAN achieves record growth in first half of 2024 with strong financial performance

By Defence Industry Europe

Turkish defence company ASELSAN has reported robust financial results for the first half of 2024, showcasing significant growth across key financial metrics. The company announced revenues of 35.7 billion Turkish Lira (over 1 billion USD), marking an 8% increase from the previous year. Net profit surged by 133%, reaching 3.6 billion TL, highlighting the company’s continued expansion and resilience.

ASELSAN, a leader in Turkey’s defence industry, also reported an EBITDA of 8.7 billion TL, reflecting a 9% growth year-on-year. New contracts worth 2.6 billion USD, including 365 million USD from international markets, have boosted the company’s total order backlog to 12.3 billion USD.

Commenting on the results, ASELSAN President & CEO Ahmet Akyol stated, “Our successful operations and game-changing technologies are clearly reflected in our first-half financial results, affirming that we are on track with our 2030 goals. We have positioned ourselves among the world’s ten fastest-growing defence companies, climbing to 42nd on the ‘Top 100 Defence Companies List’ by Defence News.”

The first half of 2024 was notable for ASELSAN’s export achievements, with the company securing international contracts for eight of its products, including KORKUT, CENK, FERSAH, ASELFLIR 500, and GÖZDE. The company also expanded its reach to three new countries, further diversifying its global footprint.

ASELSAN made significant deliveries to Turkish security forces, including the ALP 300-G Portable Early Warning Radar System and the AESA Aircraft Nose Radar, fulfilling all domestic radar requirements. The company continued to advance its GÖKSUR Close-in Air Defence System and introduced the 8×8 vehicle-integrated version of the KORKUT Air Defence Weapon System in Europe. Furthermore, ASELSAN equipped TÜRKSAT 6A with advanced communication payloads and outfitted the national submarine TCG PİRİREİS with cutting-edge communication systems.

The company also achieved notable successes in missile technology, including the extended range firing tests of the Hisar-O medium-range missile, which hit targets with high precision, and the testing of the TOLUN guided munition, launched from the AKINCI UCAV.

As ASELSAN approaches its 50th anniversary, it has set a forward-looking vision, AselsaneXt 2030, aimed at securing a place among the world’s top 30 defence companies by the year 2030. The company’s continued focus on innovation and expansion underpins its strategic goals for the future.