ASELSAN's 2023 financial results, with inflation accounting applied, have been announced. Accordingly, ASELSAN's annual turnover grew by 10% compared to the same period last year and reached TRY 73.6 Billion.
While the company's gross profit increased by 13% compared to the same period last year; Earnings Before Interest, Depreciation and Tax (EBITDA) increased by 14% compared to the same period last year, reaching TRY 16 Billion. ASELSAN's net profit reached TRY 7.4 Billion, with an EBITDA margin of 22%. The ratio of the company's equity capital to assets was 59%.
ASELSAN CEO Ahmet Akyol evaluated the company's year-end financial results as follows:
“We left our mark on 2023, the symbol of The Century of Türkiye. As ASELSAN, we completed 2023 with record successes. We have brought many new and critical technologies to our country and our army.
CENK, AKREP and ALPER Radars, YENER Mine Detection System, ASELFLIR-400 Camera, Gözde Guidance Kit, Gökdeniz Air Defense System, ODAKAN camera family are just some of our products that will enter the inventory for the first time in 2023. We are in the final stages of many products that we think will play a game-changing role. In 2023, we have made significant progress and achieved success in our products such as the world's best camera ASELFLIR-500, our country's first long-range air defense system SİPER, our first over-the-horizon sonar DÜFAS, our first AESA aircraft nose radar, our guided munition TOLUN, and our autonomous underwater vehicle DERİNGÖZ. We have successfully completed the testing phases of many of these products, and have started mass production for some of them.
As ASELSAN, we continue to work with all our strength for our country, produce technology and strive to always go further. With the USD 5 Billion orders we received in 2023, our backlog reached USD 11 Billion, which is a historical record level for us.
2023 was a year in which ASELSAN achieved significant success in exports. We exported to 4 countries for the first time. We exported more than 20 products for the first time. We have proven ASELSAN's competence in this field, especially with the tank modernization tender we won in Chile, on the other side of the world. In 2023, we achieved a historical success by signing new export contracts worth USD 601 Million.
We have equipped many platforms, which are a source of pride for Türkiye and exported, with ASELSAN technologies. With these technologies, we strengthen the power of platforms such as ATAK, Hürkuş, Bayraktar TB2, Anka, MİLGEM, Ejder Yalçın, Kirpi. In 2023, we rose to the 47th place among the world's largest defense industry companies. We took the lead among the companies that spend the most on R&D in Türkiye.
The fact that the number of our employees will exceed 10,500 in 2023, the majority of whom are engineers, is another development that shows the level ASELSAN has reached.
ASELSAN constantly increases its investments to develop and manufacture high technology. Last year, the Advanced Materials Facility, Guidance Kit Integration and Production Facility and Electronic Warfare Production and Integration Facility became operational. We have initiated four more important and major investments in FLIR camera systems, air defense systems, microelectronics and AESA radar fields. Our successes motivate us to do more in The Century of Türkiye. We have managed to serve our country for nearly half a century with reliable technologies. With the technologies we develop, we will continue to be one of the most important actors of the Turkish Century and one of the most valuable stakeholders of our National Technology Move. In 2024, we will produce the best products in our field, offer firsts to the world, and continue our export-oriented growth strategy.”
