Goldan Defense Technologies Reports 1.1 Billion TL Revenue in First Nine Months
Altınay Defense Technologies (ALTNY) announced that it achieved a revenue of 1.1 billion TL in the first nine months of the year. According to the data disclosed through the Public Disclosure Platform (KAP), the company reached a net profit of 212.5 million TL and reduced its total costs by 29% to 563.4 million TL during this period.
General Manager Burak Mercan stated that these successes have strengthened Turkey's position in the defense industry. He emphasized that they are developing indigenous and national defense systems for land, sea, and air platforms, highlighting Altınay Defense Technologies' involvement in significant national projects and its acceleration in investments. He also noted that the growth vision following the company's public offering in May has positively reflected in its financial results.
Mercan mentioned that they entered the last quarter of 2024 with strong financial indicators, revealing a nearly 20% increase in net profits, which reached 212.5 million TL during the nine-month period. The company's EBITDA has also increased approximately ninefold compared to the previous period, reaching 517.7 million TL.
He pointed out that they signed a strategic agreement by increasing their stake in the subsidiary DASAL Aviation Technologies from 51% to 100%. He noted that a $1,644,750 order received for air defense systems has strengthened their position in the defense industry, indicating that they are closely monitoring global developments. These steps demonstrate the company's commitment to a sustainable growth strategy.
The rising graph of Altınay Defense Technologies, established in 2014 under the Altınay Technology Group, is continually expanding and has undertaken significant projects and products in the defense sector. Since its inception, the company has operated in areas such as Motion Control Systems, Unmanned Systems, and Weapon Systems, further solidifying its strong capital structure through a successful public offering process completed in May.
With over 180 expert engineers working for the company, it provides solutions primarily to the Turkish Armed Forces and various public and private sectors, while operating with the goal of becoming a global player. Based in Istanbul Kurtköy, Altınay Defense Technologies possesses important international standard certificates such as AS9100D, ISO 9001, ISO 14001, and ISO 45001. The company is enhancing its growth potential for the future by participating in critically important projects in the defense industry.
Current status of ALTNY share: Following the announcement of Altınay Defense Technologies' Q3 financial results, the stock gave back the 2% increase it saw yesterday, falling nearly 2% to about 92 TL in the last hour. The shares have exhibited a horizontal trend since September. After its public offering in May, ALTNY recorded a significant value increase of nearly 280%, reaching a peak of 132.7 TL. The shares entered a correction phase in August and currently continue with a 163% increase in value since the IPO date.