Financial results for January-September 2017 period Netaş increases its international markets revenue by 238% to TRY 163 million
Netaş has announced its financial results for the first nine months of 2017. Netaş increased its international market sales revenue by 238% year-on-year to TRY 163 million. The company improved its total orders booked by 35% to TRY 609 million compared to the same period of the previous year.
Today, Turkey's leading systems integrator Netaş announced its financials for the January-September period of 2017. In this time frame Netaş increased its orders received by 35% to TRY 609 million compared to the same period of the previous year, thanks to growth in international markets and enterprise segment orders. In the nine-month period of the current year, sales revenues of Netaş amounted to TRY 688 million, and raised its international markets revenue by 238% to TRY 163 million. The company generated TRY 34 million EBITDA in the period between 1 January and 30 September, while generating a cash totaling TRY 54 million from its operating activities.
Netaş CEO C. Müjdat Altay commented, "2017 has a very important place in the 50-year long history of Netaş. With our new shareholder, ZTE, we began to execute projects that will take Netaş to the future stronger, beginning from the second half of 2017. We are pleased with the performance Netaş recorded in the first nine months of the year. In addition to developing next-generation technologies, our success in providing end-to-end solutions on a global scale and our high project delivery performance led us to raise our sales revenue in the international markets by more than three folds compared to the same period last year. We increased our order on hand by 10% compared to the end of 2016, to TRY 701 million. We believe this increase will be a positive contribution to our performance until the year end. Currently, we have a strong position in the market, and with ZTE, we believe Netas is headed to higher success. "
In the first nine months of 2017, Netaş recorded significant growth particularly in the enterprise segment. Total orders booked in this segment almost doubled compared to TRY 125 million in the first nine months of 2016 and reached TRY 249 million in the nine-month period of 2017. Thanks to the projects that are continuing with existing customers and with the addition of new projects in the field of public security, the amount of orders booked in this cluster increased by 73% year over year, while the revenue from the projects increased by 130%.