Astor Enerji Is Growing With R&d And Investments In The Industry (2)

Astor Enerji is Growing with R&D and Investments in the Industry

In the first half of 2023, Astor Energy, whose balance sheet increased by 56% compared to the end of 2022 and reached an asset size of 10 billion TL, increased its revenue by 68% compared to the June 2022 period and reached 4.7 billion TL. The Company, whose international sales reached 33% of its total revenue, increased its net profit by 150% to TL 1.6 Billion as of June 2023 compared to June 2022.


With a 40-year history, Astor Energy was established in 1983 in Istanbul. The GEÇGEL Family acquired the company shares in 2005. Mr. Feridun Geçgel, the Chairman of the Board of Directors of the Company, and Mr. Enver Geçgel, the Vice Chairman of the Board of Directors, had been engaged in commercial activities in this field by buying and selling electrical-electronic materials and transformers before 2005 when they started transformer manufacturing and carried their sectoral experience to the manufacturing industry.

The headquarters of the Company was moved from Istanbul to Ankara in 2014 and currently continues its production activities in two separate factory buildings integrated with each other with a total closed area of 105,000 m² on a land of 140,000 m² in Ankara ASO 2nd Organized Industrial Zone located in Sincan district of Ankara province.

The Company continues its production with the clean energy generated by the 6.6 MW rooftop SPP installed in its production facilities.

Transformer and Switching Products produced by the Company are used in many areas such as electricity generation plants, transmission and distribution systems, all industrial production facilities such as iron and steel, cement, glass, paper, and in facilities belonging to public and private enterprises such as hospitals, shopping centers and schools. In summary; “Astor Energy’s products are used everywhere from energy production to the end user.”

Astor Enerji, which is the 147th largest industrial organization according to ISO-500 2021 data, ranks first in the ranking on the basis of transformer and switching products manufacturers.

In these aspects, Astor Enerji A.Ş. is a strong brand that leads the sector in the electromechanical manufacturing industry by manufacturing and selling transformers with 40 years of knowledge, is innovative, and represents our country successfully worldwide with its exports to more than 90 countries.

Astor Enerji is Growing with R&D and Investments in the Industry (3)


Astor Energy, which has a strong equity and financial strength, covers 61% of its balance sheet, which reached TL 10 Billion as of June 30, 2023, with Equity. The company’s authorized capital ceiling is TL 4,250 million and its paid-in capital is TL 998 million.

The Company’s shares started to be traded on the Stars Market of Borsa Istanbul (BIST) on January 18, 2023 under the code “ASTOR”. The size of the public offering was realized as 210,000,000 units and TL 2,625,000,000,000. With an IPO price of TL 12.50, Astor Energy’s market capitalization before the IPO was USD 750 million, and as of the current situation, the market capitalization has reached USD 4 billion.

Astor Energy, which is included in the National and International indices, started to be traded in the BIST 30 index in addition to the BIST 100 and BIST 50 indices as of July 1, 2023, in line with the increase in the company’s transaction volume and market value.

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


Astor Energy exports to more than 90 countries, including Europe, the Middle East and North Africa, the United Kingdom, Central Asia and the Caucasus regions. 53% of its exports are to EU countries.

Astor Energy, which aims to export 40% of its total sales by maintaining and expanding its domestic customer base, has achieved export revenues of TL 1.5 billion, corresponding to 33% of its total revenue of TL 4.7 billion as of June 2023.

With a 2023 revenue target of 540 million USD, Astor Energy expects to achieve its 40% international sales target in the near future, depending on the regular increase in orders. In fact, the announcement of some of the orders received, which were publicly disclosed on PDP from the IPO until the beginning of August 2023, exceeded USD 310 million.


Astor Energy has been increasing the number of its employees in line with the development in its volume of activities, and has increased its number of employees from 1,000 in 2020 to 1,531 in 2022 and to 1,706 as of June 2023. The company contributes significantly to employment in the real sector and also serves as a technical school.

Astor Enerji is Growing with R&D and Investments in the Industry (1)


R&D In 2016, Astor Energy obtained an R&D Center certificate from the Ministry of Industry and Technology and has an R&D-centered growth strategy. In this context, the company allocated 3,034 m² of space for its R&D center.

The company, which has R&D and quality policies, has the capacity to produce Distribution Transformers, Power Transformers, Medium Voltage and High Voltage switching products that are important for the sector under a single roof. It also manufactures special transformers and project-based transformers and installs them outside the country by its own technical staff.

Sustainability Investments: The Company continuously makes sustainability investments in its existing production lines. In addition, the Company has decided to invest in increasing capacity in distribution transformers and has started the process. With this, the distribution transformers of 15,000 MVA

Expanding its range of activities in the energy sector, Astor Energy is also investing in SPP and charging network management in addition to its existing businesses.

Bala SPP: The solar power plant investment with a power of 13,950 kWe/17,732kWp on land in the Balâ district of Ankara province, with a project amount of approximately USD 10,600,000, 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 were established and put into use in 14 provinces. By the end of 2023, it is targeted to complete the installation of a total of 300 AC/DC slot stations.

In line with this target, new agreements have been made to reach 107 DC and 76 AC charging stations in 37 provinces by the end of 2023. There are also locations where negotiations are ongoing.

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

Astor Energy aims to further increase its contribution to our country’s economy and foreign trade in the electromechanical sector with a sustainable approach in the coming years and to carry its production capacity and know-how to the international arena.

On behalf of the Board of Directors, we would like to take this opportunity to thank all of our stakeholders, including our Company’s suppliers, customers and investors, which have reached 1 million.

The Excitement Of The National Match Will Be Experienced At Vestel Amfi!
The Excitement of the National Match Will Be Experienced at Vestel Amfi!
Pınar Deniz Magnum Special Invitation Pursue Pleasure “haz Peşindeysen”
Pınar Deniz – Magnum Special Invitation – “Pursue Pleasure” “Haz Peşindeysen”
Would You Like To Lose Weight While Sitting Down Yelda Başaran
Would you like to lose weight while sitting down? Yelda Başaran
I Was Asking The Questions 'why, For What Reason, How' Very Often Special Interview With Eray Emin Aydemir And Eylül Aşkın
I was asking the questions ‘why, for what reason, how?’ very often – Special interview with Eray Emin Aydemir and Eylül Aşkın
Power Of Literature At Evolution Art Gallery Book Signing Event For Nesrin Dosdoğru's 'hide And Seek With Fathers'
Power of Literature at Evolution Art Gallery: Book Signing Event for Nesrin Dosdoğru’s ‘Hide and Seek with Fathers’
Meeting Of Young Art In Denizculture And Gallery Deniz 85 Works Of 48 Artists Are Being Exhibited
Meeting of Young Art in DenizCulture and Gallery Deniz: 85 Works of 48 Artists are Being Exhibited
Fashion And Comfort Meet Come As You Are
Fashion and Comfort Meet: Come As You Are
The Evolution Of Art Episode 18 Lawyer Serra Taşköprü, Günsu Saraçoğlu Evolution Art, Mikado Communication
The Evolution of Art Episode 18 – Lawyer Serra Taşköprü, Günsu Saraçoğlu – Evolution Art, Mikado Communication
An Exciting Exhibition At Red Art In Istanbul Lunatic Asylum
An Exciting Exhibition at RED ART in Istanbul: Lunatic Asylum
Ai Supported Recruitment Biases And Solutions
AI-Supported Recruitment: Biases and Solutions
Yed I Sevda Concert Young Talents And Master Artists Shared The Same Stage
Yed-i Sevda Concert: Young Talents and Master Artists Shared the Same Stage
Contemporary Suseven, Who Is In The Spotlight With His Latest Single Broken Guitar, With Eylül Aşkın... Exclusive Interview
Çağdaş Suseven, who is in the spotlight with his latest single “Broken Guitar,” with Eylül Aşkın… Exclusive Interview
Günsu Saraçoğlu's Rebirth Collection Can Be Visited Until July 4th
Günsu Saraçoğlu’s “ReBirth” Collection Can Be Visited Until July 4th
The Evolution Of Art Episode 17 Günsu Saraçoğlu, Eylül Aşkın Evolution Art, Mikado Communications
The Evolution of Art Episode 17 – Günsu Saraçoğlu, Eylül Aşkın – Evolution Art, Mikado Communications
Turkey's Alpet Is Now Brand New Çiğdem Yorgancıoğlu Impression
Turkey’s Alpet Is Now Brand New – Çiğdem Yorgancıoğlu Impression
Erkan Ulu Schools' Young Philosopher Awards 2024 Competition Results Announced Here Are The Winners!
Erkan Ulu Schools’ Young Philosopher Awards 2024 Competition Results Announced: Here are the Winners!
The Corporate Governance And Sustainability Panel Will Take Place In Adana
The Corporate Governance and Sustainability Panel Will Take Place in Adana
Şahsenem Most Successful Artist Of Central Asia And Turkiye
Şahsenem “Most Successful Artist of Central Asia and Turkiye”
Rıdvan Akparlak I Think Popular Culture Has Hurt Us A Lot In Terms Of Music. Exclusive Interview With Eylül Aşkın
Rıdvan Akparlak: “I think popular culture has hurt us a lot in terms of music.” Exclusive Interview with Eylül Aşkın
The Evolution Of Art Episode 16 Ekrem Kahraman, Günsu Saraçoğlu Evrim Art, Mikado Communication
The Evolution of Art Episode 16 – Ekrem Kahraman, Günsu Saraçoğlu – Evrim Art
An Exhibition Dedicated To Virginia Woolf, A Room Of One's Own, Kendİne Aİt Bİr Oda
An exhibition dedicated to Virginia Woolf, “A Room of One’s Own”, “KENDİNE AİT BİR ODA”
Mikedi Aims To Introduce Turkish Culture To The World With The Lucky Charm Cat 3
Mikedi aims to introduce Turkish culture to the world with the Lucky Charm Cat
From The Pen Of Serra Taşköprü 'will You Lynch Me' 'beni LİnÇ Eder Misiniz
From the Pen of Serra Taşköprü: ‘Will You LYNCH Me?’ ‘Beni LİNÇ Eder misiniz?
Çiğdem Yorgancıoğlu Centennial Republic & Fairy Tales 4 Children
Çiğdem Yorgancıoğlu: Centennial Republic & Fairy Tales 4 Children
Following The Trail Of Cultural Diversity The 13th Edition Of The Sintesi Exhibition Has Begun!
Following the Trail of Cultural Diversity: The 13th Edition of the SINTESI Exhibition Has Begun!
Türkiye News Portal Logo
Turhapo Logo
Türkiye Haber Portalı Logo