ASTOR Energy continues production with own clean energy

Astor Energy was founded in Istanbul in 1983 and has a history of 40 years. The Geçgel family purchased  the company shares in 2005. Before 2005, when they started to manufacture transformers, Feridun GEÇGEL, Chairman of the Board of Directors of the Company, and Enver GEÇGEL, Vice Chairman of the Board of Directors; They carry out commercial activities in this field by buying and selling electrical-electronic materials and transformers, and they carry their sectoral experience to the manufacturing industry.

The headquarters of the company was moved from Istanbul to Ankara in 2014 and it still continues its production activities in two separate factory buildings integrated with each other with a total closed area of 105.000 m² on a 140.000 m² land in Ankara ASO 2nd Organized Industrial Zone located in the Sincan district of Ankara. It continues its production with the clean energy it produces with the 6.6 MW roof GES installed in its production facilities.

Transformer and Switching Products produced by the Company; are used in electricity generation enterprises, transmission and distribution systems, in all industrial production facilities such as iron-steel, cement, glass, paper, in many areas, especially in facilities belonging to public and private enterprises such as hospitals, shopping centers and schools.

According to ISO-500 2021 data, Astor Energy, which is the 147th largest industrial enterprise, ranks first in transformer and switching products manufacturers.

With these aspects, Astor Enerji A.Ş. has an important place in the electromechanical manufacturing industry by manufacturing and selling transformers with its 40 years of know-how. Astor A.Ş. exports to more than 90 countries.

IPOs and indices

Astor Energy, which has its own equity and financial strength, covered its balance sheet, which reached 10 Billion TL as of June 30, 2023, with 61 percent of its own funds. While the registered capital ceiling of the company is 4.250 Million TL, its paid-in capital is stated as 998 Million TL.

The company’s shares start to be traded on the Borsa Istanbul (BIST) Yildiz Market with the code “ASTOR” on 18.01.2023. The IPO size is 210.000.000 units and 2.625.000.000.-TRY. With a public offering price of TRY 12.50, Astor Enerji had a pre-IPO market value of US$ 750 million, and its current market value has reached the level of US$ 4 billion. As of July 1, 2023, depending on the increase in the transaction volume and market value of Astor Energy, which is included in the National and International indices; BIST 100 trade started, in addition to BIST 50 and BIST30 indices.

The company, which is also included in the BIST Non-Bank Liquid 10 and BIST Participation indices, was included in the international indices FTSE Russel Large Cap, FTSE All World and S&P Global BMI as of June 2023.

Exports to more than 90 countries

Astor Energy; exports to more than 90 countries including Europe, Middle East and North Africa, United Kingdom, Central Asia and Caucasus regions. 53 percent of its exports are made to EU countries. Astor Energy, which aims to export 40 percent of its total sales by maintaining and expanding its domestic customer base, has achieved an export income of 1.5 billion TL, which corresponds to 33 percent of its total revenue of 4.7 billion TL as of June 2023.

With a revenue target of 540 Million USD in 2023, Astor Energy expects to reach its 40 percent overseas sales target in the near future, depending on the regular increase in orders. Because the announcement of some of the orders received, which was shared with the public on the Public Disclosure Platform from the public offering to the beginning of August 2023, exceeded US$ 310 million.

Contribution to employment

Astor Energy, which also increases the number of its employees depending on the development in its activity volume; The number of employees, which was at the level of 1,000 in 2020, increased to 1,531 in 2022 and to 1,706 as of June 2023. The company has a qualification that contributes significantly to employment in the real sector and at the same time serves as a technical school.

R&D centered growth strategy

R&D: Astor Energy, which received the R&D Center certificate from the Ministry of Industry and Technology in 2016, has an R&D-centered growth strategy. In this context, 3.034 m² area has been allocated for the R&D center.

Having R&D and quality policies, the company has the capacity to manufacture Distribution Transformers, Power Transformers, Medium Voltage and High Voltage switching products, which are important for the sector, under one roof. In addition, it manufactures special transformers, project-based transformers, and installs its own technical staff in the country and abroad.

Sustainability Investments: The company makes continuous sustainability investments in its existing production lines. In addition, it takes a capacity-increasing investment decision in the distribution transformers division and starts the process. With this distribution transformers of 15,000 MVA, Astor Energy, which is expanding its range of activities in the energy sector, is also making investments in GES and charging network management in addition to its current business.

Bala SPP: 13.950 in Bala district of Ankara province The solar power plant investment with a kWe/17.732kWp power on land, with a project value of approximately 10.600.000 USD, is expected to be completed in 2023.

Electric Vehicle Charging Station Investments: As of the first half of 2023, a total of 124 charging units will be installed in 14 provinces and put into use. By the end of 2023, it is aimed to complete the installation of 300 slot stations, including AC/DC.

In line with the target; new agreements are being made to reach the number of 107 DC and 76 AC charging stations by the end of 2023, covering a total of 37 provinces. In addition, there are locations where negotiations continue.

An investment of 750,000 USD was made in 2022 for charging stations, and the investment amount in 2023 is expected to be 10 million USD.