Turk Telekom 3Q13 revenues increase 4.8% to TRY3.4bn

24 Oct 2013

Turk Telekom has reported revenue of TRY3.392 billion (USD1.719 billion) for the three months ending 30 September 2013, up 4.8% year-on-year. EBITDA edged up 0.4% to TRY1.305 billion, while operating profit for the third quarter decreased 3.2% on an annualised basis to TRY864 million. However, net profit slumped 63.6% from TRY630 million to TRY229 million in the period under review, chiefly due to ‘unfavourable foreign exchange movements’ which saw the Turkish lira (TRY) devalued against the euro (EUR) and the US dollar (USD). CAPEX for the third quarter of 2013 increased 14.5% to TRY645 million.

In operational terms, Turk Telekom’s broadband customer base rose 2.9% to 7.2 million by 1 October 2013, while fixed PSTN lines fell 8.6% to 12.7 million. Meanwhile, the telco’s mobile unit Avea saw its subscriber base grow 6.9% y-o-y to 14.1 million; of these, 7.9 million were on pre-paid plans, up 7.2% y-o-y.

Group CEO Hakam Kanafani commented: ‘Sustained robust operating performances in broadband, mobile and corporate data businesses were main drivers of our strong consolidated results. Our broadband business continued its high revenue growth trend with [an] 8% year-over-year increase. Revenues from broadband business almost matched revenues from fixed voice for the first time this quarter and its share in the revenue mix is now 25% … Mobile data continued to be among growth drivers in mobile business which has been further supported by our market leading smartphone penetration levels reaching 33% this quarter’.

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