Odine/Burak: Visionary Investments Will Be a Game-Changer for Financial Data
Foreks - Odine, which has been providing software solutions and engineering services to national and international companies since 2000, is drawing attention this year with its innovative R&D initiatives. In December, Odine achieved the distinction of being the first and only Turkish company to be included in the Capacity Media’s 20 Top Telco Vendors Power List for two consecutive years, a recognition from one of the most influential publishing organizations in the telecommunications sector based in the UK. Additionally, it has been recognized as one of Turkey's fastest-growing technology companies within the framework of the Deloitte Technology Fast 50 program.
Focus on AI in 5G/6G Infrastructures Alper Tunga Burak, Chairman of the Board and CEO of Odine, stated that significant strides have been made in their R&D and innovation initiatives throughout 2024. "With the strategic appointments and international collaborations we have achieved this year, we are supporting our growth strategy with R&D investments and continuing to shape the future of the industry. While working on 5G and 6G technologies to realize our future vision, we have set clear strategies and concrete goals for ourselves. These objectives include developing fully autonomous (zero-touch) network infrastructure solutions through our AI efforts and becoming a leading technology company globally by transferring our experience in the telecommunications sector to different fields.
In this context, we are focusing on developing an AI-supported orchestration product that can be integrated into 5G and 6G private network communication infrastructures. With these services and efforts, we will also contribute to the improvement of our country's national and secure communication infrastructure and add value to the Turkish economy by bringing these solutions to international markets," he said.
Visionary Investments to Boost Financial Data Highlighting that they are among the fastest-growing technology companies in Turkey with exports to 23 countries, Alper Tunga Burak provided the following evaluation regarding financial performance: "As Odine, we increased our net sales revenue by 48% in the third quarter compared to the same period last year, reaching 504.7 million TL. Our gross profit rose by 173%, hitting 190.2 million TL, while EBITDA grew by 137%, amounting to 120.9 million TL. The company's gross profit margin was 37.7%. As part of our sustainable growth strategy, we will continue to see the results of our investments aimed at increasing Odine's competitiveness in both local and global markets by 2025."