Aselsan revenue rises 15 pct in first quarter

ANKARA

Aselsan’s revenue rose by 15 percent in real terms in the first quarter of 2026 from a year earlier to 34.3 billion Turkish Liras, while its new export contracts increased by 69 percent to $629 million.

In a statement to the Public Disclosure Platform (KAP), the company said the positive impact of its “aselsaneXt” transformation program, launched in 2024 as part of its long-term targets, continued into 2026.

The company said revenue growth was driven by deliveries in areas including Steel Dome, radar, electronic warfare, military communications, AI-supported urban security, electro-optical systems and guided munitions.

Aselsan’s backlog rose by 39 percent year-on-year to $20.7 billion, while total new contracts signed in the first three months of the year reached $1.26 billion. Export-related contracts accounted for half of the total.

The company’s EBITDA margin increased by 260 basis points from the same period last year to 25.2 percent. EBITDA rose by 28 percent to 8.6 billion liras.

Aselsan posted a net profit of 5.5 billion liras in the first quarter, above analysts’ expectations of 4.7 billion liras. Net profit doubled compared with the same period of last year.

The company also said its commercial payables fell by 30 percent compared with the end of 2025.

Aselsan President and CEO Ahmet Akyol said the first-quarter figures showed that the company was not only growing but also improving its management, transformation and technological depth.

“Our revenue reaching 34.3 billion liras, our export contracts rising by 69 percent to $629 million, and our backlog reaching $20.7 billion confirm the resilience and sustainability of our business model,” Akyol said.

Akyol also said the company made half of last year’s total investment in the first quarter alone.

The company aims to deliver more than 400,000 products to end users this year, after delivering 286,000 products last year.