ASELSAN's financial results for the first half of 2020 have been announced. ASELSAN reached the highest first-year profit of all time with TL 1,8 billion. The company's turnover grew by 13% and reached 5,2 billion TL.
ASELSAN closed the year 2019 with strong profitability indicators; In the first six months of 2020, it continued its positive momentum in profitability indicators. The company's gross profit increased by 38% compared to the same period of the previous year. Earnings Before Interest, Depreciation and Taxes (EBITDA) also increased by 35% to TL 1.274 Million. The EBITDA margin reached 20%, exceeding the 22-24,4% range, which was the company's forecast for the end of the year. With these results, ASELSAN managed to achieve the best first-year profit of all time.
Strong profitability also continued to feed ASELSAN's equity growth. The company's equity grew by 11% compared to the year-end and exceeded 15 billion TL. The ratio of equity to assets, which was 2019% at the end of 53, rose to 56% in the first half of the year.
Evaluating the financial results of the company in the first half of the year, ASELSAN Chairman and General Manager Prof. Dr. Haluk GÖRGÜN:
“The first half of 2020 was a period when the coronavirus epidemic changed both social and commercial life all over the world. During this period, serious disruptions and contractions occurred in the production and sales volumes of companies, especially in the supply chain. On the other hand, the epidemic period was a period in which companies were tested how prepared they were for such crisis periods. From the moment the first effects of the epidemic were seen, ASELSAN took effective steps towards the management of the process by making very fast decisions both within the company and before all external stakeholders, including its suppliers. In this process, we have determined the uninterrupted continuity of our activities by considering the health of our employees as the first priority. This business continuity; We have provided by strictly fulfilling all the directives of our Ministry of Health and all related organizations regarding the epidemic. Thanks to the measures we have taken, ASELSAN has become the first defense industry company to be entitled to COVID-19 Safe Production / Safe Service Certification by fulfilling all the standards set by the Turkish Standards Institute.
Turkey was the best managers in the world epidemic and the effects of one of the countries managed to keep to a minimum. In this process, ASELSAN became one of the members of the consortium for national ventilator production initiated under the leadership of our Ministry of Industry and Technology and our Ministry of Health. At the first stage, 5.000 devices were manufactured, meeting the needs of our country. The export of the device to various countries of the world still continues. "
New Order of 511 Million Dollars in First Half
ASELSAN, which succeeded in eliminating the negative effects of the epidemic by continuing its activities without interruption, managed to receive a new order of 2020 million dollars in the first half of 511. Professor Dr. GÖRGÜN stated that "10% of the said orders are sourced from foreign customers, it is important for the continuation of international marketing activities without interruption and to show the competitiveness of ASELSAN products". ASELSAN's total balance orders were $ 9,5 billion as of the end of the first half, while 94% of the balance orders were defense and 6% non-defense orders. Professor Dr. GÖRGÜN underlined that "ASELSAN will continue to increase its contribution to the Turkish defense industry and to transfer this experience to non-defense fields such as health, energy and finance in the upcoming period."
7 Billion TL Support from ASELSAN to Defense Ecosystem
Professor Dr. Haluk GÖRGÜN stated that "the sustainability of the defense industry ecosystem is one of ASELSAN's main priorities, and that no disruption was included in the procurement processes during the epidemic period". The company continued to place new orders for its more than 5.000 suppliers. Since the beginning of the year, more than 7 Billion TL has been paid to supplier companies, ensuring the continuity of the production wheel in the sector. In April 2020, as an indication of the uninterrupted continuity of activities, the “Our Power One” platform was launched for ASELSAN's suppliers. With this platform, activities such as bidding, quality, product supply, trainings, inspection processes, supplier scorecards and announcements were carried out without interruption.
ASELSAN is the 48th Largest Defense Company of the World
ASELSAN continued to rise steadily every year in the list of the world's largest defense industry companies (Defense News Top 2008), to which it was included in the 97th place in 100. Professor Dr. Haluk GÖRGÜN; “One of ASELSAN's strategic goals, the goal of becoming one of the world's top 50 defense companies, has come true; He said that ASELSAN is ranked as the 2020th largest defense company in the world in the list of "Defense News 48". Stating that they see this as the result of a growth strategy spread over a long term, Prof. Dr. GÖRGÜN; He said, “He is pleased that ASELSAN's strong balance sheet structure, profitability and turnover development have reached a level that can compete with the world's major companies”.
ASELSAN continued its rise in ISO 500
Istanbul Chamber of Industry (ISO) titled "Turkey's Top 500 Industrial Enterprises by the" list of 4 rows Taking 11'incilig rising ASELSAN, the highest EBITDA with the 1st company, while the Ankara-based companies are among the first places in Turkey took.
ASELSAN is also a Pioneer in Employment Increase
ASELSAN continued to implement its employment plans in the first half of 2020 without compromise. In this context, 2020 people were employed in the first six months of 732. The total number of employees of the company reached 8.279 people, including new hires. Professor Dr. Haluk GÖRGÜN; “We consider human capital as the most valuable asset of our company. There was no change in our employment policies in 2020 and we continued recruitment by acting within our targets. ASELSAN's 55-year first place was once again registered in the Most Attractive Employers Survey in Engineering and IT, organized by Universum, in which 54.597 students from 6 universities participated. We are confident that ASELSAN will maintain its leadership in its sector and will continue to be one of the most preferred companies in the coming years thanks to the investments we have made in the development of our human assets.
As ASELSAN, we completed the first half of 2020 with extremely successful results, with our solid business model, competent human resources, effective working capital management and strong balance sheet structure. Our results confirm our year-end projections, a 40-50% increase in turnover and 20-22% EBITDA margin targets.
I would like to take this opportunity to thank our human assets and all our stakeholders who work uninterruptedly with great devotion. "