ASELSAN Boasts Highest Turnover Increase in Deloitte 2018 Study

6 Aralık 2018
ASELSAN_Deloitte_2018 - C - Deloitte

Alper ÇALIK /

According to Deloitte 2018’s Global Aerospace and Defence Industry Financial Performance Study, ASELSAN ranked first internationally in terms of increased turnover, seeing a 42.3 percent increase in Turkish Liras in its 2017 turnover.

On the list of the world’s largest 100 defence and aerospace sector companies, the average increase in turnover has remained at 2.7 percent. ASELSAN came 63rd on the list based on turnovers, being the sole Turkish company included in the list.

The study, based on 19 financial indicators, ranked the performance of 100 companies that have generated at least $500 million in revenues in 2017.

Based on these assessments, ASELSAN stood among the top 10 companies when ranked according to the criteria listed in the table below.

Criterion Average of Top 100 Companies ASELSAN ASELSAN’s Rank among the Top 100 according to Relevant Criterion
Revenue growth 2.7% 42.3% 1st Place
Revenue per employee growth 2.4% 42.3% 1st Place
Return on assets 5.2% 12.7% 4th Place
Core operating margin 10.8% 22.2% 5th Place
Core operating earnings per employee $38,543 $65,145 8th Place


Deliveries Continue in the Modular Temporary Base Area Project

In October, the public was informed of three more important developments at ASELSAN. The first of these was related to the BARQ joint venture company, whose memorandum of understanding was signed in March during DIMDEX 2018. According to a statement released by ASELSAN on October 4 on the Public Disclosure Platform (KAP), BARQ has been officially established with capital of 1 million Qatari Riyals. The company was established with the aim of carrying out the production, sales and marketing of command and control systems, thermal and day/night cameras, crypto devices and remote-controlled weapon systems. The company’s stocks are currently held by the Qatar-based Barzan Holdings (51%), ASELSAN (48%) and SSTEK (1%).

The memorandum of understanding concerning the establishment of the BARQ joint venture was signed during DIMDEX 2018 in March.

The memorandum of understanding concerning the establishment of the BARQ joint venture was signed during DIMDEX 2018 in March.



In another important development for ASELSAN, the Presidency of Defence Industries (SSB) announced on October 17  that ASELSAN had delivered three more Modular Temporary Base Areas (MTBAs) to the Turkish Armed Forces (TAF), bringing  the number of systems delivered to date to 29, thus crossing off one more item on the list of the Presidency’s 100-Day Action Plan. The MTBA project had been signed initially between the SSB and ASELSAN on February 5, 2013, and under the same project, ASELSAN received additional orders from the SSB on January 12 and July 31, 2018.

On October 26, ASELSAN also announced on the Public Disclosure Platform the signing of an additional contract valued at a total of ₺1.54 billion and $165 million, concerning the TAF Joint Multi-Band Digital Radio Procurement Project, under which ASELSAN is charged with the delivery of the HF and V/UHF radios detailed in the contract between 2019 and 2024.

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