Quoted by Milliyet, he added that there is a will for one. Moreover, Türksat has passed the international financial reporting system and has an agreement with an international audit firm. Some banks have also received preliminary reports about the public offering.
Gül was speaking in a conference with MUSAID, the Independent Industrialists’ and Businessmen’s Association. In it, he also said that legislation related to Türksat requires political will and there is as yet no clear timetable for an IPO.
Türksat’s net sales amounted to TL580 million (€181.7 million) in 2014 and should reach over TL800 million this year. Gül stressed that the company is profitable and its EBITDA margin, of around 30%, is significantly higher than those of IT companies, which barely reach double figures.
Turkey is one of only seven countries in the world that manufactures its own satellites.
It currently has four, all of which are operated by Türksat.