Turk Telekom Q1 revenues boosted by 16.6%

Turk Telekom’s consolidated revenues increased by 16.6% year-on-year to TRY6.3 billion (USD905 million) in Q1 2020, while the group’s quarterly EBITDA grew by 12.1% to TRY3.0 billion, giving an EBITDA margin of 47.2%. Operating profit increased by 14.3% to TRY1.7 billion for the first three months of the year, with net income of TRY661 million compared to TRY310 million in the year-ago quarter, on the back of strong underlying operating performance and lower financial expenses with reduced foreign exchange exposure. CAPEX was TRY896 million in January-March 2020, compared to TRY637 million in 1Q19.

In operational highlights, Turk Telekom’s direct fibre broadband internet subscribers grew to 1.74 million at end-March 2020, up from 1.39 million twelve months earlier, with fibre-to-the-home/building (FTTH/B) coverage now exceeding 6.4 million premises, up by around one million premises in a year. Mobile subscribers at subsidiary TT Mobil increased to 23.2 million with 253,000 net additions in 1Q20, as the share of active LTE subscribers in the subscriber base rose to 58%, up nine percentage points y-o-y. Average monthly data usage per LTE user increased to 8.2GB in 1Q20 from 6.2GB in 1Q19.