Aselsan Elektronik Sanayi Ve Ticaret AS

Analysis

Business Description

Aselsan Elektronik Sanayi Ve Ticaret AS (ASELSAN) is a defense electronics manufacturing company. The company designs, produces, develops, integrates and sells products to various industries such as military communications systems, radar systems, electronic warfare systems, transportation systems, security systems, space technologies, electro-optic systems, navigation and avionics systems.

It also offers weapons systems, command control communication computer intelligence reconnaissance and surveillance systems, microwave products, energy systems, naval systems, unmanned systems, automation systems and traffic and toll collection systems.

The company classifies its revenue generating activities into two categories: Domestic sales and Export sales.

ASELSAN operates manufacturing facilities in Macunkoy, Akyurt, Golbaşi, and Teknokent in Turkey.

R&D Overview

ASELSAN's R&D activities strive to develop innovative technologies in the areas such as telecommunications, rail systems and medical systems. The company operates through a network of six research and development centers such as Defense System Technologies, Radar Electronic Warfare and Intelligence Systems, Microelectronics, Guidance and Electro-optics, Communication and Information Technologies, Transportation, Security, Energy & Automation Systems and ASELSAN Research Center. It collaborated with several universities and research organizations to foster R&D. In FY2020, AEST invested TRY282.6 million on R&D, which as a percentage of revenue, stood at 1.8%.

Business Segments
Overview

Generates revenue from selling various electronics, defense, electro-optics, communication and information technology, automation, and transportation products.

Performance

Reported revenue of TRY14,591.2 million for FY2020, which grew 26.8% YoY, and recorded a CAGR of 34.1% during 2018-20. The segment accounted for 90.3% of the company's revenue in FY2020.

Inventore veritatis
Overview

Generates revenue by exporting the products to various international markets.

Performance

Reported revenue of TRY1,539.9 million for FY2020, which decreased 2.2% YoY, and recorded a CAGR of 31.6% during 2018-20. The segment accounted for 9.5% of the company's revenue in FY2020.

Performance

Reported revenue of TRY25.1 million for FY2020, which grew 21.2% YoY, and recorded a CAGR of 89.1% during 2018-20. The segment accounted for 0.2% of the company's revenue in FY2020.