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ASELSAN announces financial results for 2020
2020 year-end financial results of ASELSAN have been announced. The company’s revenues grew by 24% in 2020 compared to the previous year and exceeded 16 Billion TL. The net profit of the company reached 4.5 Billion TL with an increase of 33% compared to the previous year. ASELSAN, which increased its receivable collections significantly with the revenues from exports, completed the year with a strong cash position.
ASELSAN, the world’s 48th largest defense company with its sales and production network spanning over 12 countries in 3 continents, completed 2020 with record results. The company’s consolidated net sales increased by 24% compared to the previous year and exceeded 16 Billion TL. The company’s Earnings Before Interests, Taxes, Depreciation and Amortization (EBITDA) increased by 38% to its all time high of 4 Billion TL. The EBITDA margin exceeded expectations and reached its highest level in the history of the company with 24.4%.
1 Billion Dollar Export Backlog Threshold is Exceeded
ASELSAN’s acceleration in exports continued 2020, when the mobility between countries stopped completely due to the pandemic. In 2020, the company signed contracts with 6 new countries for a total amount of 446 Million Dollars and contributed to the export volume of our country. With the contribution of new orders received from abroad, export backlog reached its historical peak by exceeding the 1 Billion Dollar threshold. Total backlog is 9.5 Billion Dollars.ASELSAN Did Not Stop During The Pandemic!
ASELSAN Chairman, President and CEO Prof. Dr. Haluk GÖRGÜN said the following in his evaluation of the 2020 year-end financial results:
“Being aware of the responsibility we bear for our country, in 2020, when the negative effects of the pandemic are felt in every field, our motto was “ASELSAN does not stop, cannot stop! ” and we did not stop our activities for a single day. We have implemented a very effective decision mechanism within ASELSAN since the first effects of the pandemic began to appear. While observing the needs and expectations of our government on the one hand, we also tried to take all kinds of precautions for the health of our employees. In 2020, ASELSAN continued its activities in the field of technology and R&D by making R&D expenditures of 3.3 Billion TL. We mobilized all our financial and operational resources to ensure that more than 4 thousand suppliers, who provide products and services to ASELSAN, are not adversely affected by the pandemic. Our high revenue and profitability figures by the end of 2020 are the result of these management strategies that we have implemented with the awareness of being a family.
We Achieved Development With Our Values
The new conditions brought by the pandemic have completely reshaped the ways of doing business around the world that have been accustomed to for decades. The fact that this change took place at an unaccustomed speed negatively affected companies that were unprepared in terms of infrastructure and human resources. ASELSAN has been a change leading company for many years and invested in qualified human resources, which it sees as its most valuable asset. Our human assets of ASELSAN came together around our company values consisting of Unity, Excellence, Development, Innovation and Trust and formed the driving force of our development in the challenging conditions of 2020. With approximately 1,500 employees, who joined our ASELSAN family in 2020, we further strengthened this ring of values and completed the year with the highest employment rate of all time.ASELSAN Is Growing Rapidly Globally
As ASELSAN, we continue to rapidly expand our global activity with our sales and production network spanning over 12 countries in 3 continents. We are pleased to start gaining from our global leadership vision that we initiated 2 years ago. 2020 has been a very productive year in which the highest export receivable collection was made, the most export orders were received and the number of export countries was increased to 70. As part of our strategy to resolve our processes with our overseas customers in the country where they are located, in a timely and effective manner, we established companies, opened offices and branches in 3 countries last year. With these breakthroughs, our total number of offices and branches at home and abroad reached 28.
Cash Management Approach Covering the Whole Ecosystem Was Adopted
Prof. Dr. Haluk GÖRGÜN stated that in 2020 they worked with an understanding that prioritized the financial needs of not only ASELSAN and its affiliates, but also more than 4 thousand suppliers. Prof. Dr. GÖRGÜN said that they had reduced the liquidity pressure caused by the pandemic in the ecosystem by paying out more than 12 Billion TL to their business partners last year. The share of local companies in ASELSAN’s total procurement increased to 73% in 2020. 9 out of every 10 orders placed were forwarded to SMEs. While ASELSAN completed the year with a record level of cash collection, the company closed the year with a net cash position thanks to the successful working capital management throughout the year. The Company’s cash level by the year end stood at 4 Billion TL.
Our Country’s Goals Are Our Goals
ASELSAN Chairman, President and CEO Prof. Dr. Haluk GÖRGÜN concluded his statements with the following words. “From defense electronics to health, from communication systems to financial Technologies, from energy and transportation systems to space technologies; we proudly observe the benefits of our products and services for our nation in every field we operate. In a period when pandemic conditions were getting worse, our ventilators, offered to the usage of our nationis one of these products. ASELSAN, together with the members of the consortium it cooperates with, produced more than 20,000 ventilators in a very short time and provided a very important support to our health community in the fight against Covid-19. Our ventilators were made available to our friend and brother countries under the coordination of Turkish Government.As ASELSAN, our goal is to reduce our country’s dependence on imports by producing high-standard technological products and services in all areas we operate. With its experience of more than 45 years, high engineering skills and financial strength, ASELSAN is able to achieve these goals. We will continue to work diligently to carry ASELSAN, which is of crucial importance to Turkish nation and entrusted to us, beyond these successful results. I would like to thank all of our stakeholders, especially our employees, for their trust in us and for always being with us, and I hope that our success will continue to increase.”
ASELSAN announces financial results for 2020 | Turkish Defence News
Year-end financial results of ASELSAN have been announced. The company's revenues grew by 24% in 2020 compared to the previous year and exceeded 16 Billion TL.
www.turkishdefencenews.com
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Turkey-made auxiliary ship project for India includes tech transfer
Aproject for Turkish shipbuilders to build five fleet support vessels for the Indian Navy will include technology transfer, local media said Tuesday, citing sources familiar with the subject.
Turkey’s TAIS, a consortium initially founded by the owners of the top five leading shipyards of Turkey to offer expert and innovative solutions in naval shipbuilding, announced back in June 2019 that it won a $2.3 billion (TL 16 billion) tender to build five 45,000-ton fleet support ships. The signing of the contract, however, was postponed due to several political or financial reasons.
As part of the project, the value of which was stated as between $1.5 billion to $2 billion by the Indian media, Visakhapatnam-based Hindustan Shipyard Limited (HSL) is expecting an order from the Indian Navy by year-end for the building of the vessels and will see technology transfer from Turkey’s Anadolu Shipyard (ADIK), part of the TAIS consortium, the Hindustan Times reported Tuesday.
“The agreement with the Turkish consortium will kick in after HSL gets an order from the Indian Navy. If all goes well, that could happen by October 2021. Several Indian vendors will also be involved in the project,” someone with knowledge of the issue was cited in the report who spoke on condition of anonymity.
The HSL earlier proposed to the Indian Navy to build the fleet support ships by partnering with South Korea’s Hyundai Heavy Industries (HHI), but the proposal received by that company was rejected over cost disputes.
The first support vessel to be built in the HSL is expected to be delivered to the country’s navy within four years after a green light was given by the authorities for the construction. The rest is set to be delivered at 10- to 12-month intervals.
The 230-meter (755-foot) ships with a displacement of 45,000 tons can carry fuel and other supplies for warships.
Another person speaking to the Indian news site said: “Turkey’s shipyards are fully booked for a long time and there is nothing to lose by transferring technology and having all the vessels built in India. Turkish engineers will come to India to assist with the project,” explaining why the construction is not beginning in Turkey.
The TAIS consortium, along with the ADIK, where eight landing ships were built for the Turkish Naval Forces along with the TCG Bayraktar, an amphibious tank landing ship designed to carry up to 20 tanks at once, and TCG Sancaktar, a single boat and displacement type vessel, also includes Sedef Shipyard and Sefine Shipyard.
In Sedef Shipyard, the construction of Turkey’s first landing helicopter dock (LHD) type amphibious assault ship, TCG Anadolu, continues, while, Sefine Shipyard is where the fleet replenishment vessel (DIMDEG) for the naval forces is under construction.
Besides, Anadolu Shipyard, the leading company in the TAIS, is also building two cadet training ships for Qatar, which were launched respectively on Oct. 8 and Dec. 25, 2020.
Turkey-made auxiliary ship project for India includes tech transfer
A project for Turkish shipbuilders to build five fleet support vessels for the Indian Navy will include technology transfer, local media said Tuesday,...
mulj
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this is just ilustration what you can expect once more complex systems for land and air you develop. really great achievment to sell india this kind of hardware considering all political relations.Turkey-made auxiliary ship project for India includes tech transfer
A project for Turkish shipbuilders to build five fleet support vessels for the Indian Navy will include technology transfer, local media said Tuesday,...www.dailysabah.com
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There is whole world beyond politics.
(non-political) turks and indians for most part get along quite well and we have lot of things to participate and improve relations on.
Lot of things need not be through a prism of any another country. Both countries are secular democratic republics and that should ideally be a shared underlying basis for relations in the long term.
Coming to this deal (which I welcome wholeheartedly) specifically on underlying forces driving it past the seemingly more visible political issues:
India - Turkey two way goods trade will soon be 10 billion yearly, and its heavily in favour of India....(direction split in 2018 was like 7.5 billion vs 1.1 billion).
This is far larger trade (done by Turkey) than with any other country in the subcontinent. This gives broader sentiment of the wider Turkish population and country dynamic w.r.t India IMO.
Overall Turkey buys from India almost 10 times more than what it buys from Pakistan and Bangladesh combined (though India outnumbers by 3.5 times by population these two-combined)
Thus Turkey has lot of pent-up natural equilibrium-driven counter-pressure (like found in nearly any trade deficit/surplus situation vis a vis currency movements/pressures) for lot of its goods and services in Indian market if it harnesses this....especially as India both continues to grow fast and also chooses to diversify away from its import reliance on China.
So its no surprise that Turkish shipyard could bid competitively.
That too done under pretty loggerhead political admins (Erdogan and Modi) and geopolitical climate at current juncture....so it will be good to shup up lot of unreasonable naysayers (typical online trolls and hothead media commentators etc).
This all forms basis for improving relations long term sustainably too.
i.e Turkey should do things like research where it is competitive with China on, and promote those products in India as it has trade deficit with India, whereas India has trade deficit with China etc....so it is a positive pressure it can harness+divert for mutual benefit. Similar can be done for services and tourism and cultural exchange overall too.
India and Turkey have lot of engineering and high-tech areas to cooperate on too. Back in 2009, India launched a satellite for ITU (Istanbul Technical university) for example at very competitive cost as just one example....becoming the first satellite launched by a turkish university.
mulj
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this whole reply require new topic, so if you would like open one for consideration of turkish approach to the south asian countries and multilateral relations in order to not derailing this specific topic.
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Mods can move it maybe to turkey economy section etc....or you can quote it there to continue convo you might want etc.
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Turkey-made auxiliary ship project for India includes tech transfer
Aproject for Turkish shipbuilders to build five fleet support vessels for the Indian Navy will include technology transfer, local media said Tuesday, citing sources familiar with the subject.
Turkey’s TAIS, a consortium initially founded by the owners of the top five leading shipyards of Turkey to offer expert and innovative solutions in naval shipbuilding, announced back in June 2019 that it won a $2.3 billion (TL 16 billion) tender to build five 45,000-ton fleet support ships. The signing of the contract, however, was postponed due to several political or financial reasons.
As part of the project, the value of which was stated as between $1.5 billion to $2 billion by the Indian media, Visakhapatnam-based Hindustan Shipyard Limited (HSL) is expecting an order from the Indian Navy by year-end for the building of the vessels and will see technology transfer from Turkey’s Anadolu Shipyard (ADIK), part of the TAIS consortium, the Hindustan Times reported Tuesday.
“The agreement with the Turkish consortium will kick in after HSL gets an order from the Indian Navy. If all goes well, that could happen by October 2021. Several Indian vendors will also be involved in the project,” someone with knowledge of the issue was cited in the report who spoke on condition of anonymity.
The HSL earlier proposed to the Indian Navy to build the fleet support ships by partnering with South Korea’s Hyundai Heavy Industries (HHI), but the proposal received by that company was rejected over cost disputes.
The first support vessel to be built in the HSL is expected to be delivered to the country’s navy within four years after a green light was given by the authorities for the construction. The rest is set to be delivered at 10- to 12-month intervals.
The 230-meter (755-foot) ships with a displacement of 45,000 tons can carry fuel and other supplies for warships.
Another person speaking to the Indian news site said: “Turkey’s shipyards are fully booked for a long time and there is nothing to lose by transferring technology and having all the vessels built in India. Turkish engineers will come to India to assist with the project,” explaining why the construction is not beginning in Turkey.
The TAIS consortium, along with the ADIK, where eight landing ships were built for the Turkish Naval Forces along with the TCG Bayraktar, an amphibious tank landing ship designed to carry up to 20 tanks at once, and TCG Sancaktar, a single boat and displacement type vessel, also includes Sedef Shipyard and Sefine Shipyard.
In Sedef Shipyard, the construction of Turkey’s first landing helicopter dock (LHD) type amphibious assault ship, TCG Anadolu, continues, while, Sefine Shipyard is where the fleet replenishment vessel (DIMDEG) for the naval forces is under construction.
Besides, Anadolu Shipyard, the leading company in the TAIS, is also building two cadet training ships for Qatar, which were launched respectively on Oct. 8 and Dec. 25, 2020.
Turkey-made auxiliary ship project for India includes tech transfer
A project for Turkish shipbuilders to build five fleet support vessels for the Indian Navy will include technology transfer, local media said Tuesday,...
Help me out, is this the largest export deal in the defence industry? Milgem export to Pakistan was similar ish in value?
Can we put together a top 5 of export deals?
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ATAK deal was 1,5 b usd, though I haven't heard anything of it. But yes it's definitely among top 3.
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NEFER (7.62mm, double-barreled 30mm 2A42 automatic cannon), specially designed for the Kazakh Army
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Kazakhstan's military is testing foreign armored vehicles
As part of the study by the Armed Forces of the international market for weapons and military equipment, Kazakhstani experts assessed the capabilities of the Turkish armored vehicle ARMA-8x8. A demonstration of the capabilities of an armored wheeled vehicle ARMA-8x8 with a combat module NEFER took place in the Karaganda garrison at the Spassk training ground.
The combat capabilities of the armored car, as well as the weapons on board, were tested at different times of the day. According to the manufacturer, the NEFER combat module (30 mm 2A42 automatic cannon with a coaxial 7.62 mm machine gun) was specially designed for use in the Kazakh army.
It allows you to shoot at night using a sighting system and a thermal imaging camera. This provides good visibility and effective engagement of targets.
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Do you guys agree with this article that UAE and KSA may improve relations with Turkey?
www.defensenews.com
Turkey-Gulf détente may boost Turkish exports
As relations among Mideast neighbors improve, will Turkey see more opportunities for defense exports?
www.defensenews.com
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Do you guys agree with this article that UAE and KSA may improve relations with Turkey?
Turkey-Gulf détente may boost Turkish exports
As relations among Mideast neighbors improve, will Turkey see more opportunities for defense exports?
There have been signs and comments that indicate a softening between Saudi Arabia and Turkey. I have my doubts about UAE, but I also think that the new US government will leave its impact in the region and we might see better relations because Saudi Arabia once again seeks allies that are not the democratic led US.
Differences between UAE and Turkey just seem to big to solve that easily. Look at their support for Greece, Hafter and I believe Somalia too. Too many differences.
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Arma 8x8 being tested by Kazakh Army
-> Notice the diffrent looks.
-> Notice the diffrent looks.
Hexciter
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Another B*kdil’s article. Next one please.Do you guys agree with this article that UAE and KSA may improve relations with Turkey?
Turkey-Gulf détente may boost Turkish exports
As relations among Mideast neighbors improve, will Turkey see more opportunities for defense exports?
PS: UAE can’t pass from the revenge so easily.
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Interesting take, lets see if your leadership thinks the same.
S
Don't think so with Erdogan at the helm.Do you guys agree with this article that UAE and KSA may improve relations with Turkey?
Turkey-Gulf détente may boost Turkish exports
As relations among Mideast neighbors improve, will Turkey see more opportunities for defense exports?
I think relations will normalize after 2023 when Erdogan loses the next election.
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Export variant of SARP-Zafer with NSV (Russian НСВ Никитина-Соколова-Волкова) machine gun
