Placing operational efficiency and corporate transformation strategies at the core of its activities, ASELSAN recorded an EBITDA margin of 25%, marking an increase of 100 basis points compared to the same period of last year. The Company’s EBITDA generated from its operations also grew in real terms by 18% year-on-year, reaching 22,7 billion TL.
Maintaining its strong growth momentum, ASELSAN once again sustained its Book-to-Bill ratio at 2 for 2 consecutive years one of the key indicators of forward-looking growth. Continuing this positive trend, the Company carried this ratio to 2,5 in the first 9 months of 2025, remaining above industry averages.
In this period, ASELSAN signed a contract valued at 1.65 billion EURO for the procurement of air defense systems, marking the largest single new order secured in 2025. During the same period, the Company’s total assets grew by 6%. Deliveries across key segments including STEEL DOME, radar systems, electro-optics, electronic warfare, security solutions, naval systems, and military communications played a significant role in this performance during the period.
Along with these developments, the Company’s net debt declined by 40% compared to the same period of the previous year. Accordingly, ASELSAN’s Net Debt/EBITDA ratio, which stood at 1,27 during the first 9 months of 2024, showed a strong improvement and realized at 0,57 in the same period of 2025.
ASELSAN CEO Ahmet Akyol evaluated the financial results for the first 9 months of 2025 stating: “Our strong momentum in growth remained intact in the third quarter, and we delivered real growth of 12,3% in the first 9 months of the year. In addition to sustaining our robust financial and operational performance, we successfully maintained our strong pace in new orders. This milestone clearly demonstrates the continued trust of our customers and stakeholders, and reaffirms ASELSAN’s strategic role in the defense and technology ecosystem.
When we look at our financial statements, we observe significant improvements across all key indicators such as revenue, profitability, leverage, and cash flow compared with the same period of last year. Our financial performance clearly demonstrates that ASELSAN is being managed with strong discipline, achieving not only growth but sustainable and value-driven growth, and that the Company is positioned for continued success.
Today, ASELSAN develops products that only a select number of companies worldwide are capable of producing and the third quarter marked a historic period for ASELSAN. In a ceremony attended by the President of Türkiye, we delivered 47 components of the STEEL DOME system to our heroic Armed Forces. During this significant event, we also laid the foundation of our new OĞULBEY Technology Base. With a total investment value of 1.5 billion USD, this project stands as the largest single defense industry investment in the history of the Republic of Türkiye. Once completed, the facility will become the largest air defense complex in Europe. In this way, ASELSAN’s production capacity, particularly in air defense systems and across several other strategic domains, will expand substantially.
As a company that develops and manufactures high-technology solutions, ASELSAN continues to serve as a strong attraction point for Türkiye’s brightest youth. We will continue to invest in our employees, the true heroes behind the achievements that make our nation proud, as well as in the promising talents.”
