Aselsan reports 23 billion liras of revenue in first quarter
ISTANBUL
Aselsan, Türkiye’s leading defense company, has reported a 9 percent annual increase in its revenue to 22.8 billion Turkish Liras in the first quarter of 2025.
The company’s net income surged 25 percent year-on-year to 2.13 billion liras in the January-March period, while gross profit was up 13 percent to 6.8 billion liras.
Deliveries for air defense systems, weapon systems, radar, electronic warfare, ElectroOptics, naval systems and military communication Systems constituted a significant share of the revenue obtained during this period, Aselsan said in a statement.
New orders surged by 46 percent to $1.5 billion in the first quarter compared to the same period of last year. Exports contracts amounted to $372 million, pointing to an annual increase of 220 percent.
The 220 percent growth in new international contracts highlights the success of the export-driven growth strategy, commented Cem Akyol, the CEO.
“Aselsan closed 2024 as the 6th most valuable in the BIST-100 index, and we are currently the most valuable company of BIST-100 index,” Akyol said.
Driven by strong order intake, backlog rose by 35 percent compared to the same period last year, reaching $15 billion, the company said.
Aselsan boosted its R&D spending by 33 percent year-on-year, while the company’s capital expenditures also increased by 70 percent annually.
In the first quarter, the company reduced its financial debts by 8 percent and trade payables by 37 percent.
