The company signed new contracts worth 2.8 billion USD in the same period, representing a 10% rise compared to the first half of 2024. Export-related agreements accounted for 1.3 billion USD, reflecting a notable surge in ASELSAN’s international engagements.
ASELSAN’s order backlog rose by 30%, reaching a total of 16 billion USD. Operating EBITDA stood at 13.5 billion TL, with a real increase of 15% and a margin of 25%, while the Book-to-Bill ratio was recorded at 2 — positioning the company above the industry average.
Research and development expenditures grew by 42% to 572 million USD, and infrastructure investments doubled to 104 million USD year-on-year. The company also reported a 38% reduction in net debt, improving its Net Debt/EBITDA ratio from 1.21 to 0.57.
CEO Ahmet Akyol highlighted the company’s momentum, stating: “With the aselsaneXt program we launched in 2024, we had gained strong financial momentum. Our second-quarter results once again confirmed that we maintained this momentum in the first half of 2025.”
Akyol noted the strategic strength behind the figures, adding: “Our revenue, which we increased by over 11% in real terms, along with a new contract volume of 2.8 billion USD — 1.3 billion USD of which is export-related — clearly demonstrates the solid financial footing ASELSAN has established. The 30% increase in our backlog, reaching 16 billion USD, indicates that our company will continue its stable and robust growth base.”
He pointed to three main drivers of success: a focus on high-tech products, efficiency improvements, and localisation. “For example, in the first six months of this year, we introduced 8 new products which were given into inventory for the first time,” he said. “Due to integration of artificial intelligence into our processes, we achieved 25 million USD in annual savings.”
Despite an increase in personnel, ASELSAN reported a 1.6% rise in revenue per employee. “Additionally, with the orders placed for products localized together with our suppliers, we created a significant cost advantage,” Akyol noted.
The company also showcased 10 new high-tech products at the IDEF fair, underlining its strategic progress. “This successful outcome has emerged thanks to our technological expertise, financial performance, and the impact of recent global developments,” the CEO stated.
ASELSAN’s market valuation on Borsa İstanbul rose significantly in 2025, making it the exchange’s most valuable company. “Currently, our market capitalization has exceeded 21 billion USD. This development is a concrete indication of our investors’ confidence in the company and their belief in our long-term potential,” Akyol concluded.
