Türkiye’s defense and electronics firm Aselsan reported a 25% increase in revenue in the first half of the year, driven by new contracts and expanded investments in production and research, the company announced Tuesday. Revenues rose to 88.5 billion Turkish lira (approximately $1.8 billion) on a real-term basis.

Aselsan secured new contracts valued at $4.9 billion during the period, marking a 72% increase compared with the same six months last year. The company’s total order backlog also expanded by 45%, reaching $23.2 billion, signaling robust demand for its defense products in both domestic and international markets.

The firm substantially increased its capacity and scale investments by 195% to $323 million. Additionally, research and development (R&D) expenditures rose by 41% to $804 million, with a focus on advanced areas including quantum computing and underwater systems. Aselsan’s CEO Ahmet Akyol emphasized that the company’s disciplined financial management supports ongoing investment in future technologies while maintaining a strong financial position.

Financial metrics demonstrated improved profitability and liquidity. The net debt-to-EBITDA ratio decreased slightly from 0.57 to 0.55, while the company’s EBITDA margin grew by 120 basis points to 26.3%, resulting in total EBITDA of $488 million. Operational cash flow reached $319.7 million, and the equity ratio remained solid at 56%, surpassing industry averages.

To support its expanding production capabilities, Aselsan commissioned new facilities totaling 17,360 square meters, dedicated to manufacturing smart munitions and defense systems. The company also introduced 19 robotic automation lines aimed at accelerating delivery times and enhancing product quality.

These developments reflect Aselsan’s ongoing commitment to scaling its operations and advancing its technological expertise amid rising demand for defense solutions.