AbdulQadir7
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ASELSAN, Turkey's leading defense electronics company, has announced impressive financial results for the first half of 2024, showcasing robust growth and a record-breaking order backlog. The company's performance underscores its growing prominence in the global defense industry and Turkey's increasing role as a major defense exporter.Key Highlights:
- Revenue Growth: ASELSAN's turnover in the first six months of 2024 grew by 8% compared to the same period last year, reaching a substantial 35.7 billion Turkish Lira (approximately $1.05 billion USD).
- Record Backlog: The company's order backlog has soared to an all-time high of $12.3 billion, representing an 11% increase from the $11 billion reported at the end of 2023.
- New Contracts: ASELSAN signed new contracts worth $2.6 billion in the first half of 2024, marking a significant 124% increase compared to the same period last year.
- Profitability: The company's net income surged by 133% compared to the first half of 2023, reaching 3.6 billion Turkish Lira.
- Financial Stability: ASELSAN maintained a strong equity-to-asset ratio of 61%, demonstrating its solid financial foundation.
- Expanding Global Presence: ASELSAN has successfully penetrated new markets, with first-time export contracts for eight products, including the KORKUT air defense system and ASELFLIR 500 electro-optical system.
- Technological Advancements: The company continues to invest heavily in research and development, introducing cutting-edge products like the ALP 300-G Portable Early Warning Radar System.
- Diversification: ASELSAN has expanded its portfolio beyond traditional defense products, entering civilian markets with innovations like the ADR-M100 Mobile X-Ray Device.
- Strategic Partnerships: The company has fostered collaborations both domestically and internationally, strengthening its position in the global defense market.