ASELSAN announced its 2020 financial results. The company's turnover grew by 2020% in 24 compared to the previous year and exceeded 16 Billion TL. The net profit of the company reached 33 Billion TL with an increase of 4,5% compared to the previous year. Increasing its collections at a high rate with export-sourced revenues, ASELSAN completed the year with its strong cash position.
ASELSAN, the world's 3th largest defense industry company with its sales and production network spanning 12 countries in 48 continents, completed 2020 with record results. The company's consolidated net sales increased by 24% compared to the previous year, exceeding the level of 16 billion TL. The company's Earnings Before Interest, Depreciation and Tax (EBITDA) increased by 38%, reaching a record level of 4 billion TL. The EBITDA margin exceeded the expectations and reached the highest level in the history of the company with 24,4%.
$ 1 Billion Order Threshold in Exports Exceeded
ASELSAN continued its run in exports in 2020, when the mobility between countries stopped completely due to the pandemic. The company contributed to the export volume of our country by signing a total of 2020 million USD contracts with 6 new countries in 446. With the contribution of new orders received from abroad, foreign orders exceeded the $ 1 billion threshold and reached their historical peak. Total balance orders also amounted to US $ 9,5 Billion.
ASELSAN Did Not Stop In The Pandemic!
ASELSAN Chairman of the Board and General Manager Prof. Dr. Haluk GÖRGÜN said the following in his assessment of the 2020 year-end financial results:
"Aware of the responsibility we bear for our country in 2020, when the negative effects of the pandemic are felt in every field," ASELSAN cannot stop, cannot stop! " we said and we did not interrupt our activities for one day. We have implemented a very effective decision mechanism within ASELSAN since the first effects of the epidemic began to be seen. While observing the needs and expectations of our State on the one hand, we also tried to take all kinds of precautions for the health of our employees. In 2020, ASELSAN made an R&D expenditure of 3,3 Billion TL and increased its activities in the field of technology and R&D. We mobilized all our financial and operational resources to ensure that our more than 4 thousand suppliers providing products and services to ASELSAN are not adversely affected by the pandemic. Our high turnover and profitability figures we reached at the end of 2020 are the result of these management strategies we implement with the awareness of being a family.
We Achieved Development With Our Values
The new conditions brought along by the pandemic have completely reshaped the way of doing business that has been taken for granted and ossified for decades around the world. The fact that this change took place at an unusual speed had a negative impact on companies that were unprepared in terms of infrastructure and human resources. ASELSAN is a company that has been leading change for many years and invests in qualified human resources, which it sees as its most valuable asset in this direction. The human values of OUR ASELSAN have become the driving force of our development in the challenging conditions of 2020 by interlocking around our company values consisting of Unity, Excellence, Development, Innovation and Trust. We further strengthened this circle of values with our approximately 2020 employees who joined our ASELSAN family in 1.500, and zamWe completed it with the highest employment figure of all times.
ASELSAN's Global Footprint is Growing Rapidly
As ASELSAN, we continue to rapidly expand our global activity with our sales and production network spanning 3 countries in 12 continents. We are pleased to have started to reap the fruits of our Global Leadership vision, which we implemented 2 years ago, as of last year. The year 2020 was a very productive year in which the highest export collection was made, the most export orders were received, and the number of exporting countries was increased to 70. We carry out our processes with our foreign customers in the country where they are located. zamAs part of our immediate and effective resolution strategy, we established companies, opened offices and branches in 3 countries last year. With these breakthroughs, our total number of subsidiaries and branches in Turkey and abroad has reached 28.
A Cash Management Approach Encompassing the Whole Ecosystem was Adopted
Prof. Dr. Haluk GÖRGÜN; He stated that in 2020, they work with an understanding that prioritizes the financial needs of not only ASELSAN and its affiliates, but also more than 4 thousand suppliers. Prof. Dr. GÖRGÜN; He said that last year, by paying more than 12 billion TL to their business partners, they reduced the liquidity pressure caused by the pandemic in the ecosystem to a minimum level.
The share of domestic companies in ASELSAN's total purchases increased to 2020% in 73. 10 out of every 9 orders placed were forwarded to SME companies. 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 that continued throughout the year. The company's year-end cash holdings stood at 4 Billion TL.
Our Country's Goals Are Our Goals
ASELSAN Chairman of the Board and General Manager Prof. Dr. Haluk GÖRGÜN concluded his statements with the following words. “From defense electronics to health, from communication systems to financial technologies; We proudly observe the benefits of our products and services to our nation in every field we operate, from energy and transportation systems to space technologies. In a period when pandemic conditions were getting worse, our breathing device, which we offered to our nation, became one of these products. ASELSAN, together with the members of the consortium it collaborates with, has produced more than 20.000 respirators in a very short time and provided a very important support to our health community in the fight against Kovid-19. Our respirators were made available to our friendly and brotherly countries under the coordination of our State.
As ASELSAN, our goal is to reduce our country's external dependence by producing high-standard technological products and services in all areas we operate. With its experience of more than 45 years, high engineering ability and financial strength, ASELSAN is able to achieve these goals. We will continue to work tirelessly and tirelessly to carry ASELSAN, which is the apple of the eye 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 hope that our success will continue to increase.