Turkcell 1Q19 revenues boosted by 19.2% year-on-year

2 May 2019

Turkey’s Turkcell posted group revenues of TRY5.675 billion (USD952 million) in the first quarter of 2019, up 19.2% year-on-year, helping to boost three-month EBITDA 12.8% to TRY2.281 billion (giving an EBITDA margin of 40.2%, up 0.4 percentage points). Consolidated Q1 net profit jumped 144.5% to TRY1.224 billion, swelled by the completion of Turkcell’s sale of its stake in former international division Fintur to Telia Company, generating TRY772 million profit alone (whilst the final transaction value was EUR352.9 million [USD396.0 million]). Revised targets for 2019 predict revenue growth of 17%-19% (up from 16%-18%) and an EBITDA margin of 38%-40% (up from 37%-40%).

Turkcell highlighted solid operational performance in Q1 2019 including: mobile ARPU growth of 13.4% y-o-y; residential fibre ARPU growth of 12.3% y-o-y; mobile multi-play subscriber ratio reaching 68.6%, up 9.9pp y-o-y; multi-play with TV subscriber ratio reaching 49.5%, up 3.8pp; and 4G user average data usage reaching 7.8GB in March.

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