Ankara: Trkiye's defense leader, Aselsan, has announced a 25% real-term increase in its revenue, achieving 88.5 billion Turkish lira ($1.8 billion) for the first half of the year. This surge is attributed to new contracts and strategic investments in production capacity and research, the firm disclosed on Tuesday.
According to Anadolu Agency, Aselsan secured new contracts worth $4.9 billion in the first half, marking a 72% increase from the same period last year. The company's total order backlog rose by 45% to reach $23.2 billion, underscoring robust demand for its defense products both domestically and internationally.
The company significantly boosted its capacity and scale investments by 195% to $323 million. Furthermore, its research and development spending, particularly in critical technologies such as quantum computing and underwater systems, increased by 41% to $804 million.
The company's net debt-to-EBITDA ratio showed improvement, decreasing from 0.57 to 0.55. Its EBITDA margin increased by 120 basis points to 26.3%, resulting in a total EBITDA of $488 million, as reported in the financial statement.
Aselsan's operational cash flow amounted to $319.7 million in the first half, maintaining an equity ratio of 56%, which is notably higher than sector averages. The company recently inaugurated 17,360 square meters (186,861 square feet) of new production and test centers focused on smart munitions and defense systems to support its expanding operations.
Additionally, the company introduced 19 robotic automation lines to improve delivery speed and production quality. Chief Executive Officer Ahmet Akyol emphasized that Aselsan's financial discipline allows continued investment in future capabilities while preserving a robust balance sheet.
Looking ahead, Aselsan anticipates its total order backlog to surpass the $30 billion mark starting next year. Beyond defense, the company initiated civilian projects this year, including signaling technologies for Europe's fastest fully autonomous metro line and a new open-heart surgery device, the report states.
Aselsan also celebrated its inclusion in the Forbes Global 2000 list, a first for any Turkish defense company, marking a significant achievement for the firm.