Turk Telekom: Broadband growth drives net profit

12 Feb 2010

Turk Telecom has reported a 4.6% year-on-year rise in net profit for the year ended 31 December 2009, up from TRY1.75 billion (USD1.16 billion) in FY2008, to TRY1.83 billion. Revenues for the period climbed by 3.7% to TRY10.57 billion in 2009, rising from TRY10.19 billion a year earlier as broadband growth offset falling PSTN revenues. The company’s ADSL operation posted revenues of TRY2.14 billion for the full year 2009, up from TRY1.67 billion a year earlier, while traditional fixed line sales declined from TRY5.22 billion in 2008 to TRY4.58 billion a year later. Operating expenses grew by 8% year-on-year while CAPEX jumped by 40.7%, up to TRY6.3 billion and TRY2.47 billion respectively. The company spent heavily on upgrading its broadband operations in 2009, an investment which appears to have paid off, in the short term at least. Paul Doany, CEO of Turk Telekom said: ‘In 2009 the primary focus for Turk Telekom Group was improving our basic communication infrastructure to enable us to launch an 8Mbps standard speed internet service across the whole of Turkey. It is a proud achievement for Turkey considering that many European countries still have a standard speed of 2Mbps or less and it will be the basis for convergence technology launches in 2010. Over the next year we will continue to add more innovative services and offerings, such as IPTV, and add more focus to the exporting of our services and products.’

The company’s mobile arm, Avea, posted revenues of TRY2.5 billion for the year ended 31 December 2009, up from TRY2.11 billion in 2008, a growth largely attributed to the launch of 3G services in July 2009.

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