Turkey’s leading defense electronics company, ASELSAN, has reported a strong start to 2025, maintaining its robust growth trajectory. According to the company’s disclosure to the Public Disclosure Platform (KAP), ASELSAN’s revenue rose by 9% year-on-year to 22.8 billion Turkish lira in the first quarter. The total value of newly signed contracts reached $1.5 billion, a 46% increase, while export agreements surged by 220% to $372 million.

ASELSAN’s order backlog grew by 35% to $15 billion, reflecting continued demand for its defense technologies. The company’s EBITDA rose by 10% to 5.1 billion TL, maintaining a solid 23% margin, while the book-to-bill ratio remained above 2 for the second consecutive year—an indication of sustained operational strength.

A significant portion of ASELSAN’s revenue came from deliveries of air defense systems, radar technologies, electronic warfare solutions, naval systems, weapon systems, and tactical communications equipment. The company’s R&D spending increased by 33% to $250 million, and capital investments rose by 70% compared to the same period last year. Despite these major expenditures, ASELSAN successfully reduced its financial debt by 8% and trade liabilities by 37%, lowering its net debt-to-EBITDA ratio to 0.6, well below the industry average.

ASELSAN CEO Ahmet Akyol highlighted that 2025 began with the same momentum as the company’s record-breaking 2024:

“Nearly every indicator showed historic highs last year. The 46% increase in new contracts demonstrates our customers’ trust, and the 220% rise in international business confirms that our export-driven growth strategy is working.”

Akyol also emphasized ASELSAN’s market leadership, stating, “We are currently the most valuable company on the Borsa Istanbul (BIST 100). Increasing R&D and investment spending while reducing debt reflects sound management and financial discipline.”

In addition to financial success, ASELSAN achieved several technological milestones in Q1 2025. The company completed the delivery of the HİSAR O Air and Missile Defense System, integrated PUHU 3-LT Electronic Support Systems and upgraded armored vehicles (ZMA) for the Turkish Armed Forces. It also conducted successful tests of the GÖZDE Guidance Kit, ANTIDOT 2-U/S Electronic Support Pod, TOLUN precision munition, and GÖKSUR point air defense system.

Furthermore, three major investment projects—focusing on photon detectors, radar systems, and air defense technologies—were included in the Project-Based Investment Incentive Program by the Ministry of Industry and Technology, totaling $616 million in value. These projects will enable ASELSAN to scale up production of high-value defense systems for domestic and international markets.

With its strong financial performance, expanding export portfolio, and focus on innovation, ASELSAN continues to solidify its position as one of the world’s fastest-growing and most technologically advanced defense companies.