ASELSAN says revenue rose 28% in first nine months

ASELSAN said revenue for the first nine months of the year reached TL 151.5 billion, an increase of 28% in real terms compared to the same period of the previous year. New export contracts signed by ASELSAN rose by 34% to USD 1.9 billion. The USD 30 billion level in backlog was exceeded for the first time in the company’s history. The Book-to-Bill ratio rose to 4.4. Investments in critical infrastructure and facilities necessary for design and production, which are essential for preparing ASELSAN for the future, gained momentum during this period. In the first nine months of the year, investments increased by 228% to USD 684 million. The strong order portfolio, investments expanding production capacity, and increased R&D emerged as the key drivers supporting ASELSAN’s sustainable growth. ASELSAN continued to realize the positive outcomes of the aselsaneXt Program, which it began implementing in 2024 to achieve its long-term objectives, in the third quarter of 2026 as well. In the first nine months of 2026, ASELSAN’s revenue grew by 28% in real terms compared to the same period of the previous year, reaching TL 151.5 billion. Air Defence, Radar and Electronic Warfare Systems, Underwater Systems, AI-Powered Urban Security Systems, Guided Munition Systems, Electro-Optics, and Communication technologies played a determining role in the revenue achieved in the first nine months of the year. This growth was supported by increasing demand for ASELSAN’s high-technology products. The Company’s backlog increased by USD 7.5 billion compared to the previous quarter, reaching USD 30.7 billion. All-time highs were recorded in new contracts and backlog. The company’s EBITDA margin increased by 190 basis points compared to the same period of the previous year, reaching 26.8%. During the same period, ASELSAN’s EBITDA amount also rose by 38% to TL 40.6 billion. The consistent implementation of efficiency-enhancing initiatives, combined with the company’s strategic transformation toward critical, high barriers to entry technologies within its product portfolio, made a significant contribution to ASELSAN’s growth and the preservation of its operational margins. Additionally, ASELSAN’s revenue per employee increased by 4% in USD terms during the same period. Along with the increasing backlog, investments that will provide ASELSAN with additional production capability and scale continued uninterruptedly in the first nine months of the year. Investments at the Oğulbey Technology Base and existing campuses increased by 228% during this period, reaching USD 684 million. The first phase of the Oğulbey Technology Base, the foundation of which was laid in 2025, and which represents the largest single defence industry investment in the history of the Turkish Republic, became operational during this period. Similarly, many new investments, such as the Guided Ammunition Systems Production Center, were commissioned during this period. The robotics and automation infrastructure in the production of air, naval and land defence systems was significantly strengthened. ASELSAN, which leads Türkiye in the number of R&D projects it conducts and in engineer employment, increased its R&D expenditures by 36% in the period compared to the same period of the previous year, reaching USD 1.3 billion. Investments directed at domains characterized by high barriers to entry, particularly LEO Satellite Technologies, Quantum Computing Technologies, Underwater Technologies, High-Power Microwave Technologies, Microelectronic System Technologies, and Smart Ammunition and Propulsion System Technologies gained momentum. These ongoing future-oriented investments will continue to strengthen ASELSAN’s standing in the global defence industry. The company’s operational cash flow reached TL 23 billion in the first nine months of 2026. During this period, the share of ASELSAN’s financial liabilities within total assets was 14%. Through effective financial management and newly developed strategies, ASELSAN’s financing expenses decreased by 10.3% compared to the same period of the previous year. ASELSAN CEO Ahmet Akyol said: “2026 is not just a year in which ASELSAN has grown, it is the year we redefined the very scale of our growth. The transformation unveiled through aselsaneXt is evident across every dimension of the company: from order intake to investments, from production capacity to technological depth. We have moved beyond meeting today’s requirements and are building the capabilities today to answer tomorrow’s challenges. In addition to steady growth, our growth rate is also accelerating. Looking at our third quarter growth figures in USD terms, we grew by 18% in 2024, 29% in 2025, and 42% this year. We are performing far above our sector’s global averages in growth and across many business volume indicators. In August, we climbed three positions to rank 40th in Defense News’ Top 100 list, and became the first Turkish defence company ever included in the Forbes Global 2000. Similarly, leading global investment institutions are increasingly highlighting ASELSAN’s achievements in their reports.” For Editorial Inquiries Contact: Editor Kym Bergmann at [email protected] For Advertising Inquiries Contact: Group Sales Director Simon Hadfield at [email protected]