Aselsan Reported Net Profit of 1.7 Billion TL

Sharing the figures for the first quarter of 2022, Aselsan reported a net profit of 1.7 Billion TL, which exceeded market expectations.

The company reported a net profit of 1 billion 695 million TL in the first quarter of this year. Military Electronics Industry, or Aselsan for short, announced a net profit of 1.7 billion TL in the first quarter of 2021. Aselsan submitted its consolidated balance sheet for 2022 to the Public Disclosure Platform today. Accordingly, in the first quarter of 2022, the company exceeded the market expectations and achieved a net profit of 1 billion 695 million TL. Aselsan made a profit of 1 billion 233 million TL in the first quarter of 2021. According to its consolidated balance sheet for 2022, Aselsan made sales of 4 billion 365 million TL, 3 billion 717 million TL of sales consisted of domestic sales. Thus, the company's revenue increased by 38 percent compared to the same period of the previous year. While Aselsan achieved a gross profit of 1 billion 313 million TL in this quarter, the gross profit margin of the company was recorded as 30 percent. While Aselsan's EBITDA reached 1 billion 37 million TL with an annual increase of 36 percent, its EBITDA margin was 24 percent. In the first three months of the year, Aselsan spent 1 billion 461 million TL and the most important part of this was customer-based. The company's 2022 year-end forecasts are; Net sales of more than 25%, EBITDA margin of over 22% and investment expenditure of 5 billion TL were reported.