Ankara, 26 February 2025 – ASELSAN has announced exceptional financial results for 2024. Revenues reached 120 billion TL (over 3.2 billion USD) with a 13% growth rate, while EBITDA margin rose from 22% to 25%. The company signed 6.5 billion USD worth of new sales contracts, 1 billion USD of which were international.
ASELSAN, Türkiye’s leading defense company, achieved 120 billion TL (over 3.2 billion USD) revenue with 13% annual growth in 2024. EBITDA margin increased from 22% to 25%, while net profit margin rose from 10% to 13%. The new contracts signed reached 6.5 billion USD bringing the company’s total backlog to 14 billion USD.
Deliveries in air defense, radar, electronic warfare, guidance, avionics, electro-optics, naval and military communication systems significantly drove the revenue growth. Enhancing both its product and customer portfolio, the company introduced 29 new products in 2024.
By establishing effective international collaborations, ASELSAN signed export contracts worth more than USD 1 billion in 2024 with an annual growth rate of 70%. The company signed contracts with seven countries for the first time, bringing the total number of countries, which trust ASELSAN technology to 92. In addition, 31 products were exported for the first time. The realized export volume of 508 million USD in 2024, with 67% increase from the previous year, demonstrated ASELSAN’s growing influence in global markets.
ASELSAN President & CEO Ahmet Akyol evaluated the financial results: “Our 2024 financial results strongly reflect the success of our aselsaneXt vision and international cooperation-driven growth strategy. Last year, we expanded our global presence to 20 countries with six new offices. One of our key achievements, ASELFLIR-500, first rolled off the production line in February 2023 and exported to 16 countries within a year. In 2024, our 29 systems, including the key components of Steel Dome, such as SİPER and HİSAR air defense systems, AESA-based ALP 300-G, ALP 100-G radars; and our naval systems MARLİN USV, DÜFAS low frequency towed active sonar system entered into the inventory. Our TOLUN guided munition, capable of engaging eight targets in a single sortie, became operational in 2024.
We ensured sustainability by reinforcing R&D and mass production infrastructure with strategic investments including our latest 40 million USD Electro-Optic FLIR Production Facility and a 50 million USD Radar Integration Center. As we proudly celebrate our 50th anniversary, we aim to sustain over 10% growth in 2025 with our young and talented work force. Looking ahead, we strongly believe that we will be among the world’s top 30 defense companies until 2030 by focusing on talent, processes, technology, production, and business development.”
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