Aselsan shares jump on FY profit beat

Aselsan Elektronik Sanayi ve Ticaret

26/02/2025 08:04

** Shares in Aselsan ASELS.IS jump 3.2% after Turkey-based defense electronics company FY results beat estimates

** The company posts FY net profit of 15.30 billion lira  ($419.69 million), versus a profit of 10.53 billion lira year ago

** Brokerage Halk Yatirim and Yatirim Finansman expects announcement to positively reflect on shares

** Halk Yatirim says Aselsan's Q4 net profit increased by 47% year-on-year to 8.77 billion lira, surpassing both the company's forecast and the market consensus by 43% and 30%, respectively

** Halk Yatirim says the deviation in net profit was driven by stronger-than-expected operational profitability and net financial income

** "Better operational result was main reason of deviation from our estimates in the quarter" Halk Yatirim notes

** The stock is the best performer in main BIST 100 index .XU100 which is down 0.2%

($1 = 36.4552 liras)

 (Reporting by Canan Sevgili)

 ((canan.sevgili@thomsonreuters.com))