ONRYT signed an important contract with SSB.

Collaboration Between ONRYT and SSB

Onur Yüksek Teknoloji (ONRYT) announced that it has signed a critical contract with Turkey's Defense Industry Presidency (SSB). This contract is considered a significant step towards the digitization of the communication infrastructure of the command and control elements of the Turkish Armed Forces.

Contract Details

According to the announcement, the total value of the contract between ONRYT and SSB has been set at 7.36 million dollars, with an additional option foreseen for 1.11 million euros. In a statement regarding the project, it was said, "The project is expected to have a positive impact on financial statements in terms of revenue, operational profitability, and liquidity." These statements signal that the contract will likely create a positive effect on the company's financial indicators.

Stock Performance

Following the news, investors showed intense interest in ONRYT shares. The shares gained 3.43% as of 16:42, trading at 66.35 TL. This increase has been interpreted as a reflection of the market’s desire to evaluate the potential benefits that the contract will bring.

As a result, ONRYT's contract with SSB symbolizes an important development for both the company and the Turkish defense industry, while also managing to attract investors' attention.