Turkey’s defense electronics giant ASELSAN has announced record-breaking financial results for the first half of 2025. According to inflation-adjusted figures disclosed to the Public Disclosure Platform (KAP), ASELSAN’s revenue grew by 11.3% in real terms compared to the same period last year, reaching ₺53.7 billion. During the same six-month period, newly signed contracts climbed to $2.8 billion — with $1.3 billion of that total coming directly or indirectly from export deals. This achievement underscores ASELSAN’s position as one of the most financially robust and globally competitive companies in the defense sector.

The company’s strong performance was supported by deliveries in key technology areas such as air defense, radar, electronic warfare, electro-optics, avionics, and weapon systems. ASELSAN’s EBITDA rose by 15% to ₺13.5 billion, while its EBITDA margin improved by 100 basis points to 25%. Meanwhile, the Net Debt/EBITDA ratio dropped to 0.57, demonstrating improved financial discipline and operational efficiency.

ASELSAN also maintained its leadership in R&D, increasing its research spending by 42% year-on-year to $572 million. Investments in serial production infrastructure doubled, surpassing $100 million. The company’s backlog grew by 30% to reach $16 billion, while financial liabilities as a share of total assets fell to 12.7%. Trade payables declined by 21%, and operating cash flow improved markedly, with free cash flow turning positive for the period.

ASELSAN CEO Ahmet Akyol highlighted the continued success of the “aselsaneXt” transformation program, noting that eight new products entered inventory in the first half of 2025. “Our focus on high-tech solutions, efficiency, and localization is paying off,” said Akyol. “We achieved $25 million in annual savings through AI integration, increased per-capita productivity, and reduced dependency on imports through domestic supplier collaboration. With our market value now exceeding $21 billion, ASELSAN has become the most valuable company listed on Borsa İstanbul.”

Akyol emphasized that the global rise in defense budgets and security demands has created new opportunities for ASELSAN’s export-focused growth strategy. “We are expanding into new markets with advanced air defense, radar, smart munitions, guidance, and electro-optical systems,” he said. “Our goal is to strengthen both Turkey’s defense capabilities and our international presence by offering innovative, high-value technologies designed for the battlefields of the future.”