Turksat Cable TV Operations and Satellite Communications Company, a Turkish state-run satellite communications firm, was able to reach its top figures in profit as well as net sales last 2017, based on its yearly statement.
The share of its liquid assets was nine percent last year. On the other hand, the share when it comes to commercial receivables has increased up to 19% in the same year.
The ratio of its short-term liabilities to assets was 15% while the ratio of equity to assets was 82%. Plus, in long-term liabilities to the total assets, the growth is 3%.
Turksat Satellite Communications and Cable TV Operations Provider, which does not have an obligation for any financial institution, was able to increase its equities. More particularly, it has become TL 2.2 billion, which is 540 million in dollar.
Based on the report, the satellite service provider achieved the highest net sales and earnings in the history of its long years of service in the industry. More particularly, its net sales became 31.55% last year. The TL 940.8 million in 2016 becomes TL 1.2 billion in 2017. Meanwhile, its sales cost grew by 31.08% from TL 760.6m to TL 997m in the same year.
When it comes to the operating profit of the company, it augmented by 126.5%. On the other hand, the period income became 60.08%. In terms of EBITDA, it improved by 37.87 % in 2017 compared to 2016.
The net sales for all satellite operations upsurged by 10.11 %, net cable sales by 21.13 %, and the net computer operation sales by 115.60 %.
The TL 173.8 m is part of the rise of the TL 296.7 m in terms of net sales. All of these were acquired from the information revenue. The TL 82.6 m is from the cable revenue. Plus, the TL 40.4 m is from the profits in the satellite operations.
Turksat Satellite Communications and Cable Operations service provider was one of the institutions that had been affected by the damaging and potential attack during the July 15 coup attempt. Despite that, the company has been striving harder to provide the best and the highest quality of services for all their clients. Due to the satellite innovation and hard work, it has become a leading institution that has been a top priority for many people. That is why they were able to acquire high revenues over the past years.