ASELSAN Elektronik Sanayi ve Ticaret Anonim (ASELS) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue was TL 151.486bn, up 28% in real terms YoY; profit attributable to owners reached TL 26.471bn.

• Record 9M contract intake of $14.015bn and a $30.744bn backlog supported growth; capacity investment reached $684m.

Financial highlights

• 9M gross profit was TL 47.496bn vs TL 36.439bn; operating profit was TL 39.309bn vs TL 34.085bn.

• Q3 revenue was TL 58.063bn vs TL 42.983bn; operating profit was TL 15.523bn vs TL 9.737bn.

• 9M profit for the period was TL 26.350bn vs TL 15.033bn; Q3 profit attributable to owners was TL 11.227bn vs TL 6.182bn.

• Operating cash flow was TL 30.103bn, down from TL 36.166bn in 9M 2025; cash and cash equivalents ended at TL 31.845bn.

Outlook and guidance

• Contracts totaling $881m were signed after the reporting period.

• Qualifying manufacturing income tax rate is scheduled to fall from 25% to 12.5% from 1 January 2027; the change was reflected in deferred tax calculations.

• Management prioritizes timely delivery, expanded production capacity and sustained technological capability.

• Investment priorities include satellite, quantum computing, underwater, high-power microwave, microelectronics and smart ammunition technologies.

• ASTRALINK low-orbit satellite concept was unveiled, with satellite communications planned alongside land, sea and air capabilities.