Türkiye's defence giant Aselsan posted a 25 percent real-term increase in revenue to $1.8 billion (88.5 billion Turkish lira) in the first six months of the year, driven by new contracts and investments in production capacity and research, the defence firm said on Tuesday.
The company signed new contracts worth $4.9 billion in the first half, up 72 percent from the same period last year.
Its total order backlog increased 45 percent to $23.2 billion, reflecting strong domestic and international demand for its defence products.
Aselsan increased its capacity and scale investments by a whopping 195 percent to $323 million, while its research and development (R&D) spending, focusing on critical technologies like quantum computing and underwater systems, jumped 41 percent to reach $804 million.
The company's net debt-to-EBITDA (earnings before interest, taxes, depreciation and amortisation) ratio declined from 0.57 to 0.55.
Its EBITDA margin rose by 120 basis points to 26.3 percent, generating total EBITDA of $488 million, according to the financial report.
The defence giant’s operational cash flow totalled $319.7 million in the first half, while it maintained an equity ratio of 56 percent, well above sector averages.
The recently commissioned 17,360 square meters (186,861 square feet) of new production and test centres will be dedicated to smart munitions and defence systems to support the firm’s growing scale.
The company also launched 19 robotic automation lines to enhance delivery speed and production quality of Aselsan’s offerings.
Chief Executive Officer Ahmet Akyol said the company's financial discipline would allow it to invest in future capabilities while maintaining a strong balance sheet.
Aselsan’s total order backlog is expected to exceed the $30 billion threshold starting next year.
The company also launched civilian projects this year, including signalling technologies for Europe's fastest fully autonomous metro line and a new open-heart surgery device, according to the report.
Aselsan also highlighted its inclusion in the Forbes Global 2000 list as the first and only Turkish defence company to achieve the distinction.
