Altınay Defense Technologies announced its financial results for the nine-month period of this year. According to the financial data for the period of January 1-September 30, 2024, announced on KAP (Public Disclosure Platform), the company achieved a turnover of 1.1 billion TL and a net profit of 212.5 million liras.
Altınay Defense Technologies General Manager Z. Burak Mercan stated that they have a position that designs, develops, manufactures and even exports technology within Türkiye's defense industry and said, "We are developing domestic and national defense systems for land, sea and air platforms. We are involved in the most important projects in Türkiye. We take an active role in our national projects, including KAAN and Hürkuş, and we are accelerating our investments in a way that will increase our contributions. With the public offering we made in May, we are gradually expanding our sphere of influence in line with our vision of growth both in Türkiye and globally. The steps we have taken with this growth vision are also positively reflected in our financial data."
"We entered the last quarter with a strong performance"
Pointing out that they entered the last quarter of 2024 with a strong balance sheet performance, Mercan gave the following information about the financial statement: "We increased our turnover to over 1 billion liras in the nine-month period. The total realized cost amount decreased by 29 percent compared to the same period of the previous year and amounted to 563.4 million liras. In our EBITDA amount, we achieved a high success with an increase of approximately 9 times compared to the previous period and reached 517.7 million liras. We managed to increase our net profit to 212.5 million with a significant increase compared to the same period of the previous year and to the level of approximately 20 percent. This achievement underscores the strong foundation of our company and our potential for future growth. It also reinforces our determination to reach new heights."
Stating that they have recently implemented important agreements one after the other, Mercan reminded that they have gained full ownership in their subsidiary DASAL and said, "We have signed a strategic agreement by increasing our share in DASAL Aviation Technologies capital from 51 percent to 100 percent. In addition, we received an order of 1 million 644 thousand 750 dollars to be used within the scope of air defense systems. We follow the developments both in Türkiye and globally in a way that will strengthen our position in the defense industry and increase our performance. In line with our sustainable growth strategy, we are taking firm steps towards bigger goals."
