Turk Telekom has reported revenues of TRY2.89 billion (USD1.89 billion) for the three months ended 31 March 2011. This figure represents an increase of 11.7% compared to the same period a year earlier. Operating profit for the first quarter increased 26.7% from TRY689 million to TRY874 million year-on-year, while Turk Telekom reported net income of TRY609 million in 1Q11, up 11% year-on-year. CAPEX for January – March increased 53.6% year-on-year, reaching TRY314 million. The telco credits the improved figures to solid growth from its broadband and mobile units, supported by successful cross-selling activities.
In operational terms, Turk Telekom’s broadband customer base rose to 6.7 million by 1 April 2011, an increase of 5.6% year-on-year. In contrast fixed PSTN lines fell to 15.8 million, down 4.1% year-on-year. Turk Telekom’s mobile unit Avea saw its subscriber base grow 1.5% year-on-year to 11.8 million; of these, 6.8 million were on pre-paid plans, down 7.1% year-on-year. In contrast, post-paid subscribers increased 16% to five million. In addition, Turk Telekom indicated that its IPTV service ‘Tivibu Web’ reached one million subscribers by end-March, with the firm’s ongoing fibre-to-the-cabinet (FTTC) rollout gaining pace, passing three million homes by the end of 1Q11.
Company CEO Hakam Kanafani commented: ‘The first quarter of 2011 marked a very good start of the year. Turk Telekom group revenues increased by 12% year-on-year to TRY2.9 billion, and 20% y-o-y growth in EBITDA, with an EBITDA margin of 44% and net income of TRY609 million. This was the result of successful performance in all business segments. We enhanced our customers’ loyalty with advantageous tariffs while ensuring world class services. Our continued infrastructure and technology investments will not only support the growth of our business, but also improve the competitiveness of the country. Turk Telekom Group is very well positioned to sustain the momentum and continue to build on our recent growth during the rest of 2011, and we will continue to improve our services to the market’.