ASELSAN Reports Strong H1 2025 Financial Results

Türkiye’s leading defense electronics company, ASELSAN, posted strong H1 2025 results, highlighting rising demand in core military sectors and growing export activity. The company reported 53.7 billion Turkish Lira ($1.3 billion) in revenue during the first six months of the year, marking an 11.3% real increase compared to 2024.

ASELSAN Revenue Surges with Expanding Defense Contracts

Deliveries across air defense, radar, electronic warfare, avionics, and advanced optics programs fueled the growth.
CEO Ahmet Akyol said, “With the aselsaneXt program launched in 2024, we built strong momentum. Our H1 2025 results prove we sustained that momentum, driven by domestic and international demand.”

New contract volume reached $2.8 billion, with $1.3 billion from exports. The order backlog climbed 30% to $16 billion, signaling a robust long-term production outlook.
The Book-to-Bill ratio stood at 2, exceeding industry norms.

Profitability and R&D Investments

EBITDA: 13.5 billion TL (25% margin)
Net debt reduction: 38%, Net Debt/EBITDA down to 0.57
R&D spending: $572 million (+42%)
Infrastructure investments: $104 million (doubled YoY)

Eight new products were introduced, many leveraging artificial intelligence, generating $25 million in annualized cost savings. Efficiency gains increased revenue per employee by 1.6%, while localization with Turkish suppliers further reduced costs.

Market Position and Outlook

ASELSAN became Borsa İstanbul’s most valuable publicly traded firm, with a market capitalization above $21 billion, reflecting strong investor confidence.

Looking forward, ASELSAN plans to accelerate serial production of air defense systems, radar solutions, guided munitions, and electro-optics. The company aims to expand exports into new markets in H2 2025 while maintaining high R&D investments.