Hitit (HTTBT), Turkey's global technology exporter in the field of aviation and travel technologies, completed the second quarter of 2025 with strong growth. The company, which provides aviation software solutions to 72 partners in 50 countries across six continents, reported EBITDA of $7.9 million and an EBITDA margin of 40%.

August 12, 2025, Istanbul – Hitit (HTTBT), the second-largest airline reservation system provider in Europe and Africa and the third-largest in the world, continued its steady growth in the second quarter of 2025. The company achieved a 31% increase in sales revenue, reaching 19.8 million dollars in turnover. Hitit, which conducts 77% of its sales in foreign currency, reported a foreign revenue ratio of 60%. The total cash and cash equivalents amounted to $16 million, with a net cash balance of $5.9 million as of June 30, 2025.  

“With our technology, we are at the heart of aviation on six continents.”

Hitit General Manager Nevra Onursal Karaağaç stated that the company, which is a pioneer in the airline and travel technology sector in Turkey with its 30-year history, is moving forward with confidence in line with its global growth targets: Nevra Onursal Karaağaç said, “We provide solutions to the needs of our partners with different business models in 850+ airports in 50 countries across six continents with 72 partners. Passenger numbers increased by 36% compared to the same period last year. This increase came not only from new partnerships but also from the growing operations of our existing partners. We are maintaining our leadership in the IATA ARM (Airline Retail Maturity Index). Additionally, we are making a difference in the industry with our new and comprehensive Offers and Orders, which enable airlines to completely overhaul their operations, and our Modern Airline Retail System Hitit Oxygen product. Hitit Oxygen is currently the only product actively in use as the world's largest modern airline retailing application.“ Karaağaç added the following information about Hitit Oxygen, which went live in June at the IATA headquarters in Geneva: ”It is expected that Oxygen will serve over 12 million passengers in its first year. This system is the most comprehensive Quotation and Order solution to go live on a global scale."

Other projects developed by Hitit are also progressing rapidly. The first phase of software development for the Hitit Payment Services Platform (HPO) has been completed. User testing began in the second quarter. The system will first be integrated with the Agency Distribution System (ADS), followed by full integration with the Crane PSS platform.

Karaağaç emphasized that Hitit is determined to continue its social responsibility projects with a focus on sustainability. He stated that the sustainability approach has been integrated into the company's business processes in many areas, from climate change mitigation to energy efficiency R&D, gender equality, and equal opportunities in education. Karaağaç continued, “The cooperation protocol we have signed with Darüşşafaka, the implementation of the ‘Flying Rackets’ social responsibility project's Turkey Championship, and our cooperation with Özyeğin University on the Artificial Intelligence Platform are among the important steps we have taken as Hitit in the field of sustainability in the second quarter of 2025.”

“Our Growth Forecasts for the End of the Year Are Positive”

Sezer Tuğ Özmutlu, Deputy General Manager of Finance and Procurement, said the following about the company's financial data as of the end of the second quarter:

"We continued our steady growth in the second quarter of 2025. Our company achieved a 31% increase in sales revenue, reaching a turnover of $19.8 million. We conducted 77% of our sales in foreign currency. Our foreign revenue ratio was 60%. Our total cash and cash equivalents amounted to $16 million, and our net cash balance as of June 30, 2025, was $5.9 million.”

Emphasizing that the company continues to invest in technology and marketing, Özmutlu continued: “We made 8.7 million dollars in R&D investments in the first half of 2025. Additionally, we made 1.6 million dollars in investments in licenses, hardware, and fixed assets. The field research project we completed in Indonesia provided significant contributions to our market strategies. We will see the effects of these investments on revenue and profitability more clearly throughout the year."

Özmutlu made the following assessment regarding the company's financial outlook for the end of the year: "We aim to close 2025 with a strong financial performance. We are maintaining our previously announced forward-looking expectations. We have the potential to achieve revenue growth of 33% to 38% in USD terms, an EBITDA margin of 43% to 48%, a net profit margin of 25% to 30%, and an investment/revenue ratio of 30% to 35%.”

Hitit published its first Sustainability Report, sharing its activities in the environmental, social, and governance (ESG) areas with the public. The report, which was announced on the Public Disclosure Platform (KAP) and covers the results for 2024, was prepared in accordance with TSRS 1 and TSRS 2 standards, and also took into account the sector-based sustainability standards developed by the Sustainability Accounting Standards Board (SASB).