Turk Telekom 1Q14 revenues up 1.6%; net income slumps 27.1%

Turk Telekom has reported revenues of TRY3.195 billion (USD1.520 billion) for the three months ended 31 March 2014, up 1.6% compared to the TRY3.143 billion it booked in the same period a year ago. EBITDA for the first quarter increased 4.2% to TRY1.200 billion year-on-year, while net profit dropped 27% to TRY384 million, mainly due to the Turkish lira’s (TRY) depreciation against the US dollar (USD) and the euro (EUR). CAPEX for January–March increased 9.7% y-o-y to TRY279 million.

In operational terms, Turk Telekom’s broadband customer base rose to 7.4 million by 31 March 2014, up 4.2% from 7.1 million a year earlier; of these 682,000 customer accounts were said to be fibre-optic connections. By contrast, fixed PSTN subscriptions fell from 13.2 million to 12.2 million, a decrease of 7.8% y-o-y. Meanwhile, Turk Telekom’s mobile unit Avea saw its subscriber base grow 11.4% y-o-y to 15.3 million; of these, seven million were on post-paid plans, up by around one million on an annualised basis.