Turkcell 1Q14 revenues up 6% to TRY2.86bn

29 Apr 2014

Istanbul-based telecoms group Turkcell has reported group revenue of TRY2.86 billion (USD1.34 billion) for the three months ended 31 March 2014, representing a 6% rise year-on-year. Turkcell’s domestic revenues remained stable at TRY2.20 billion, while its international subsidiaries posted combined revenues of TRY650 million, up 33% from TRY488 million previously. EBITDA increased 10% y-o-y to TRY887 million, but net income dropped 36% from TRY566 million to TRY359 million. The company’s bottom line was adversely impacted by the devaluation of the Ukrainian Hryvnia (UAH) against the US dollar (USD).

In its home market, Turkcell reported a 0.3% annual decrease in its mobile customer base, to 34.8 million, compared to 34.9 million one year earlier. The bulk of the net new additions were post-paid subscribers – up 4.4% to 14.1 million – whilst pre-paid subscriptions declined 3.3% to 20.7 million. Blended average revenue per user (ARPU) remained stable at TRY21 per month, and minutes of use jumped by 6.6% to 254.6 minutes on the back of enhanced tariff offers. Meanwhile, the company’s fixed broadband subsidiary Superonline, which is in the process of rolling out a nationwide fibre-to-the-home (FTTH) network, passed approximately 1.8 million homes at the end of 1Q14; as at 1 April Superonline had notched up 614,000 FTTH subscribers, a 32.3% improvement y-o-y. The unit’s contribution to Turkcell group financials continued to improve, recording 37.6% annual revenue growth, to TRY279.7 million.

In Ukraine, Turkcell’s 53%-owned subsidiary Astelit, ended the quarter with 9.3 million ‘active’ subscribers, up from 8.2 million a year earlier, with the unit’s total subscriber base rising 1.4 million to 12.5 million. Fintur, which has interests in wireless operators in Kazakhstan, Azerbaijan, Moldova and Georgia, and in which Turkcell owns a 41.45% stake, ended March with 20.7 million customers, down 3.3% year-on-year.

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