Turk Telekom achieves 12.6% annual turnover boost

12 Feb 2018

Consolidated annual revenues at full-service operating group Turk Telekom increased 12.6% to TRY18.14 billion (USD4.74 billion) in 2017, whilst twelve-month EBITDA grew 18.0% to TRY6.45 billion – representing its highest growth rates in turnover and EBITDA since its 2008 initial public offering (IPO). EBITDA margin of 35.6% was a 1.6 percentage point improvement compared to 2016, driven by accelerated revenue growth and effective cost management. The group invested TRY3.22 billion in CAPEX in FY 2017, representing 17.8% of consolidated revenues, compared to 2016’s TRY3.03 billion CAPEX (18.8% of revenues). Net income reached TRY1.14 billion in FY17, a significant improvement compared to net loss of TRY724 million a year earlier, thanks to stronger operating performance and moderated foreign exchange movements in the most recent year.

Turk Telekom’s consolidated subscriber base reached 41.7 million at 31 December 2017, with 1.1 million and 2.8 million net additions in Q4 and FY17 respectively. Fixed broadband subscribers (retail and wholesale) rose by 368,000 in Q4 to 9.7 million, whilst mobile subscribers (retail) climbed 423,000 in the most recent quarter (and 1.0 million in the full year) to 19.6 million. The post-paid mobile subscriber ratio improved by two percentage points, to 55% in the year, whilst Turk Telekom’s 4G LTE network coverage expanded to 83% of the population at the end of December 2017, up from 75% twelve months before.

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