ASELSAN Elektronik Sanayi ve Ticaret Anonim (ASELS) Q2 2024 earnings summary

Executive summary

• Revenue for the six months ended 30 June 2024 reached TL 35.7 billion, up from TL 33.0 billion year-over-year.

• Net profit attributable to equity holders was TL 3.8 billion, a significant increase from TL 1.6 billion in the prior year period.

• The company maintained a strong equity position, with total equity rising to TL 113.3 billion as of 30 June 2024.

• Cash and cash equivalents decreased to TL 1.9 billion from TL 8.2 billion at year-end 2023.

Financial highlights

• Gross profit for the six-month period was TL 11.4 billion, up from TL 10.2 billion year-over-year.

• Operating profit reached TL 9.3 billion, compared to TL 16.3 billion in the prior year, reflecting lower other operating income.

• Earnings per 100 shares for the period were 83.31 kuruş, up from 69.31 kuruş year-over-year.

• Total assets stood at TL 185.5 billion, slightly down from TL 187.8 billion at year-end 2023.

• Short-term financial liabilities increased to TL 26.3 billion from TL 23.5 billion at year-end.

Outlook and guidance

• After the reporting period, new contracts totaling USD 370 million were signed, indicating continued business momentum.