Aselsan Elektronik Sanayi ve Ticaret A.Ş. has shared its financial results for the third quarter of 2024 with the public. The balance sheet released by Aselsan was evaluated by Gedik Yatırım Menkul Değerler A.Ş.
# Aselsan Stock News
According to Gedik Yatırım’s evaluation, Aselsan’s net sales in the third quarter of 2024 increased by 27.36% compared to the same period last year, reaching 21.811 million TL. EBITDA also rose by 21.56% during the same period, amounting to 5.051 million TL. However, the EBITDA margin decreased by 110 basis points, standing at 23.2%. The company’s net profit was recorded at 2.004 million TL, reflecting a decrease of 21.81%.
# Aselsan 2024 Third Quarter Balance Sheet Evaluation
Gedik Yatırım’s report indicated that Aselsan achieved sales revenue of 21.811 million TL in the third quarter of 2024. The company’s EBITDA was 5.051 million TL, with a net profit of 2.004 million TL. The annual growth in sales revenue was recorded at 27.4%, and despite a decrease of 110 basis points in the EBITDA margin, EBITDA increased by 21.6%. The report noted that after accounting for a deferred tax income of 2.046 million TL, the company announced a net profit of 2.004 million TL. Due to financial expenses and currency losses pressuring operational income, the pre-tax profit amounted to 55 million TL. It was mentioned that net debt increased by 19% on a quarterly basis, primarily due to the need for working capital to finance significant new accumulated workloads. The report also emphasized that despite the increase in net debt, the Net Debt/EBITDA ratio remained low at 1.3.
Gedik Yatırım assessed the impact of Aselsan’s financial results on the stock as having a limited positive effect. As for Aselsan’s expectations for 2024, they include an increase in sales revenue of over 10%, an EBITDA margin exceeding 22%, and an investment expenditure of 14 billion TL.
Source
Arwen Volkov, A graduate of the University of St. Gallen in Switzerland with a degree in International Finance, Arwen specializes in sustainable finance and green investments. She began her career at an investment bank in London, where she developed financing models for environmentally friendly projects. Known for her analytical and strategic thinking skills, Arwen is a sought-after financial consultant. In her spare time, she mentors fintech startups, contributing to their growth strategies. She is also a nature enthusiast and an amateur photographer.
