ASELSAN Elektronik Sanayi ve Ticaret Anonim (ASELS) Q4 2024 earnings summary

Executive summary

• Consolidated revenue reached TL 120.2 billion for 2024, up 13% year-over-year, with strong growth in both domestic and export sales.

• Net profit attributable to equity holders rose to TL 15.3 billion, a 45% increase compared to 2023.

• The company maintained a robust cash position, ending the year with TL 16.6 billion in cash and cash equivalents.

• Total assets grew to TL 242.8 billion, and equity attributable to shareholders increased to TL 140.3 billion.

Financial highlights

• Gross profit margin improved to 31.8% from 27.3% year-over-year.

• Operating profit reached TL 27.3 billion, up from TL 22.3 billion in 2023.

• Earnings per 100 shares increased to 335.50 kuruş from 230.83 kuruş.

• Cash flows from operating activities were TL 21.4 billion, with a net increase in cash of TL 7.1 billion.

• Total financial liabilities stood at TL 32.6 billion, with a net debt/equity ratio of 11%.

Outlook and guidance

• After year-end, new contracts totaling USD 414 million were signed, supporting future revenue growth.

• The company restructured its Microelectronics Guidance and Electro-Optics division to enhance focus on high technology and global competitiveness.