Astor Enerji explains new factory investment

Astor Enerji held a presentation meeting at its factory and headquarters building covering the company's new factory investment and 2025 targets. Astor Enerji, standing out with over 40 years of sector experience and exports to more than 90 countries, held a presentation meeting at its factory and headquarters building located in Ankara ASO 2nd Organized Industrial Zone. The presentation meeting, where detailed information was shared about two separate factory buildings with 105,000 m² of enclosed space that are integrated with each other, also conveyed to participants the work underway on the land where new factory investment will be made. The meeting was attended by all members of Astor's Board of Directors and senior management, as well as press representatives and analysts and managers from portfolio management companies. Representatives from the press and financial institutions attending the meeting at Astor's production center expressed their satisfaction with the investor meeting being held at the factory building and with seeing the factory and production processes, as well as with the detailed assessments regarding operations and financial results. They noted that it is a matter of pride that such production is realized in Turkey, and during the factory tour they also observed the high number of female employees, expressing their pleasure at this situation. Olcay Doğan, CFO of Astor Enerji A.Ş., disclosed in his detailed presentation to participants that the company's 2024 revenue target is USD 826 million, its 2025 revenue target is USD 1,013 million with a 23% increase on a USD basis, its 2024 export target is USD 400 million, and its 2025 export target is USD 512 million with a 28% increase on a USD basis.

Sales and profitability

Astor Enerji, which grew by 59% compared to end of 2022 to reach TRY 18.8 billion in total assets as of end of 2023, increased its revenue by 23% compared to end of 2022, bringing it to TRY 16.9 billion. The company, whose foreign sales reached 34% of total revenue, is targeting to increase the export share to 48% by end of 2024 and to 51% by end of 2025. The company's net period profit increased by 125% compared to 2022, reaching TRY 4.6 billion as of end of 2023. The Return on Assets ratio, which was 17.3% in 2022, rose to 24.5% by end of 2023, and the Return on Equity ratio increased from 30.5% to 37.6%. The company continues its sustainable growth in production and financial structure. Astor Enerji's foreign sales reached TRY 5.8 billion with a 96% year-on-year increase compared to 2022. 2023 exports were realized as USD 195 million. As of 2023, products manufactured are exported to more than 90 countries worldwide, and the share of exports in total sales rose to the 34% level. It was reported that the highest exports by region were 50% to European countries and 25% to the Middle East and North Africa. The company, which meets its domestic and foreign sales by increasing capacity, is projected to have 2024 and 2025 exports at approximately 50% of its revenue.

R&D and investments

Astor Enerji, with a business program based on continuous development of R&D-focused production techniques and methods, continues its healthy growth with an approach of transforming every value it creates back into reinvestment. With the R&D Center certificate the company received from the Ministry of Industry and Technology in 2016, R&D-centered activities continue, including collaborations with TÜBİTAK and universities. The company, which has R&D and quality policies, stands out with its capacity to produce under one roof distribution transformers, power transformers, and medium and high voltage switching products that are important for the sector.