ASELSAN's first quarter financial results for 2021 have been announced. Despite the global economic contraction experienced during the pandemic, the company completed the period with stable growth and high profitability. ASELSAN's 3-month turnover grew by 22% compared to the same period of the previous year and reached 3,2 billion TL.
The company's gross profit increased by 24% compared to the first quarter of last year; Earnings Before Interest, Depreciation and Tax (EBITDA) increased by 23% compared to the same period of the previous year and reached 761 million TL. The EBITDA margin reached 20%, exceeding the 22-24% range that was the company's forecast for the end of the year. ASELSAN's net profit also increased by 34% compared to the same period of the previous year and reached 1,2 billion TL. The ratio of company's equity to assets was 56%. Balance orders totaled 9 Billion USD.
"We are the Address of National and Domestic Technology"
Evaluating the financial results of ASELSAN for the first quarter of 2021, Chairman of the Board and General Manager Prof. Dr. Haluk GÖRGÜN said the following:
“The first quarter of 2021 has been a period in which the world enters its second year of struggling with the pandemic, and countries have tried all methods to minimize the economic damage of the pandemic. As ASELSAN, with full awareness of the responsibility we have assumed for our country, we left behind a quarter in which we continued our activities without interruption. We have worked with our usual discipline by taking all kinds of health measures without exception, taking care of each of our stakeholders, from our customers to our employees, from our suppliers to our society. As a result, we experienced a significant acceleration in our growth and profitability indicators in the first quarter of 2021.
The first months of 2021 were once again a period when ASELSAN's founding mission and the reason for its existence were visible. Embargoes, which are tried to be applied directly or indirectly to our country, once again demonstrated the importance of self-sufficiency in defense. The introduction of the CATS Electro-Optical Reconnaissance, Surveillance and Targeting System developed and produced by ASELSAN has been the most recent example of the struggle for independence we have been continuing for more than 45 years.
"We Continue to Support Our Supplier Ecosystem During the Pandemic Period"
“With the vision of the Defense Industry Presidency, we are an important part of the supplier ecosystem that is growing day by day in Turkey's struggle for technological independence. We continued our efforts to financially support our suppliers in 2021 under the umbrella of the union of forces we created. In this context, we made a financial contribution to our more than 4 thousand suppliers in the first quarter by paying nearly 4 billion TL.
In order to manage our supplier network more effectively, accelerate our nationalization efforts and increase our competitiveness in the international arena, we have structured our Industrialization and Supply Directorate as the Assistant General Manager of Supply Chain Management. With the new organization we have implemented, we will be much more proactive in matters of nationalization and the acquisition of new companies in the defense industry. "
"ASELSAN Continues Its Growth In The Field Of Health"
Touching on ASELSAN's activities in non-defense areas, Prof. Dr. Haluk GÖRGÜN continued as follows:
“We have put tens of thousands of respirators into the service of our Ministry of Health by doing our part in the respiratory device production campaign initiated with the aim of finding a solution to the needs of our nation in the difficult conditions of 2020. In the first quarter of 2021, we exported our Automatic External Defibrillator (OED) device, which will perform critical intervention in sudden cardiac arrest, to France and Italy.
"We Focus on Financial Technologies"
“Considering the rapid changes in the financial sector, we have structured our organization in order to follow the developments in financial technologies and to take advantage of business development opportunities in this field. With our strong financial structure and experience, we aim to be an important technology provider in the field of financial technologies. We will work day and night to develop national technologies in this field that requires serious engineering skills.
The global epidemic entering its second year and the accompanying economic difficulties revealed the importance of companies having a strong financial structure. With our strong equity, low indebtedness ratios and strong balance sheet, we will continue to move forward with the same determination to work in the rest of 2021 and transfer this to our financial results. I would like to thank Mr.President, who always encouraged and led us in the process of transferring our experience in the defense industry to many civilian areas, and nearly 9 employees who contributed to this success.