According to ASELSAN's statement to the Public Disclosure Platform (KAP), in 2026 the company continued to benefit from the positive results of the “aselsaneXt” program, which it began implementing in 2024, to achieve its long-term goals.
The company continued its growth with its strong operational performance, increasing technology investments and disciplined financial management, growing by 15 percent in real terms year-on-year in the first quarter, reaching 34.3 billion TL.
While ÇELİKKUBBE, radar, electronic warfare, military communications, artificial intelligence-assisted urban security, and electro-optical and guided munitions systems played a crucial role in sales, the company's remaining orders increased by 39 percent to $20.7 billion.
New export contracts signed in the first three months of the year increased by 69 percent compared to the same period last year.
The company's EBITDA margin, which maintains its strategy of focusing on operational efficiency and high technology at the core of its business transformation activities, increased by 260 basis points compared to the same period last year, reaching 25.2 percent.
During the same period, the company's EBITDA increased by 28 percent and reached 8.6 billion TL.
In addition to these developments, general administrative costs fell by 3 percent compared to the same period last year thanks to the consistent implementation of efficiency-enhancing measures.
While ASELSAN's per capita sales in dollar terms increased by 1.5 percent, the company's number of employees increased by over 3,000 compared to the same period last year.
The company's R&D spending rose 41 percent to $357 million in the relevant period compared to the same period last year.
In the first quarter of the year, there was a 261 percent increase in investments for capacity expansion at the Ogulbey Technology Base and existing campuses compared to the previous period.
While the company's operating cash flow increased 15 percent in dollar terms compared to the same period last year, the proportion of financial debt to its assets decreased from 12.2 percent to 10.9 percent during the period.
While net debt fell by 16 percent in the first quarter of the year compared to the same period last year, the net debt/EBITDA ratio, which was 0.60 in the first quarter of 2025, was 0.41 in this period.
While the company continues to perform below the industry average in terms of debt indicators, its commercial debt decreased by 30 percent compared to the end of 2025.
ASELSAN, which further strengthened its position in the international defense ecosystem by significantly increasing its effectiveness in global markets, signed new contracts worth a total of $1.26 billion in the first three months of the year, with 50 percent of these contracts resulting from new export contracts.
While the increase in new export contracts reached 69 percent, reaching $629 million, other orders continued to rise uninterrupted.
As of the first quarter of the year, the company's remaining orders rose 39 percent to $20.7 billion compared to the same period last year.
The important contracts signed in the first quarter of the year were “the contract for the export of communication systems and payloads for unmanned maritime vehicles signed with international customers,” “the contract for the export of air defense and avionics systems signed with international customers,” “the contract signed with a domestic platform manufacturer for the export of electro-optical systems for delivery to users abroad,” and “the contract for the supply of guidance systems signed with the Presidency of the Defense Industry of the Republic of Turkey.”
“aselsaneXt program demonstrated strong financial performance”
Ahmet Akyol, General Manager of ASELSAN, whose views were included in the statement, in his assessment of the financial results of the first quarter of 2026, stated that they have shown very strong financial performance since 2024 when they launched the “aselsaneXt” program.
Stating that they achieved serious real growth figures of 13 percent in the first year of the program and 15 percent in 2025, Akyol explained that they were happy to maintain this strong performance in the first quarter of the year, saying:
“The results we achieved in the first quarter clearly show that ASELSAN is a company that is not only growing, but also being properly managed, transformed and deepened. Our company, which grew by 5 percent in the first quarter of 2024 and by 9 percent in the same period of 2025, grew by 15 percent in the first quarter of 2026. Our turnover reached 34.3 billion TL, our export contracts increased by 69 percent to 629 million USD, and our Remaining orders increased by 20.7 percent.” Billions of dollars confirm the resilience and sustainability of our business model.
During this period we considered growth along with financial soundness. The increase in our EBITDA margin to 25.2 percent, the decrease in our net debt/EBITDA ratio to 0.41 and our strong cash flow are the concrete results of our disciplined financial management. “The ability to increase balance sheet strength while maintaining high growth demonstrates ASELSAN’s now established corporate capacity.”
“We made half of the investments we made all of last year in the first quarter.”
Drawing attention to investments in the last two years, Ahmet Akyol said they increased their research and development expenditure by 41 percent to $357 million and their mass production investments by 261 percent to $137 million. Akyol continued as follows:
“We made half of the investments we made last year in the first quarter. Behind this appetite for investment is the strong need and demand for ASELSAN's products and technologies. With our approaches that respond much more quickly to the needs in this area, focus on cost-effective designs and reduce product development time, we are able to offer the world much faster and more products. Our goal is to repeat the success we have achieved by shipping 286,000 products to “We want to take our end-user achievements over the last year to the next level by exceeding 400.” A thousand units this year. “The capacity increases we have implemented, particularly in the technology base, are a crucial threshold for managing this level of production.”
“ASELSAN has become a player that sets technology standards”
Akyol, General Manager of ASELSAN, explained that the transformation carried out by ASELSAN has attracted the attention of international players, stressing that the fact that half of the contracts signed in the first quarter were export-based is a valuable indicator.
Akyol said: “The NATO Secretary General's visit to ASELSAN clearly demonstrated that our company's position in the global defense ecosystem has now been reciprocated at a strategic level. This contact is a sign that ASELSAN is evolving into not only a technology producing company, but also a technology standard setting player.”
There are three promotions taking place at SAHA Istanbul
Stating that they will introduce their new products for the first time with three launches at SAHA Istanbul, which will be held next week, Akyol said:
“These products will demonstrate that we are closely following the field of modern warfare, that we can respond quickly to changing conditions and our global competitiveness. Today, ASELSAN has transformed itself into a structure that combines its financial strength with its technological depth and its technological depth with its global domain. In the coming period, we will witness the development of these three areas simultaneously. Our first quarter results were a strong sign that we will achieve our goals for 2026 and beyond. With this strong performance, we will continue to be on the Be a global company brand.”
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